Beneficial Holdings, Inc. Affiliates to Apply for New Nicaragua Gaming License
(firmenpresse) - MANAGUA, NICARAGUA -- (Marketwire) -- 02/22/12 -- Beneficial Holdings, Inc. (PINKSHEETS: BFHJ), through its Nicaraguan subsidiary, Grupo Beneficial, will apply for a new 20 year gaming license.
Presently, Beneficial Holdings' affiliates maintain separate gaming licenses from the Nicaraguan Institute of Tourism ("INTUR") that allow the operation of its gaming parlors.
The Nicaraguan Parliament passed new regulations to provide a stable environment for both operators of gaming parlors and their customers. The law is known as "El Ley Especial para el Control y Regulación de Casinos y Salas de Juegos, 766." Beneficial Holdings commends the Nicaraguan Parliament, the Frente Sandinista de Liberación Nacional (FSLN), and Nicaraguan President Daniel Ortega for their workable solutions and forward thinking that will help develop tourism and business stability in Nicaragua.
Under the new program, INTUR will be granting 20 year licenses. The licenses will enable Beneficial affiliates to acquire locations throughout Nicaragua. The new locations can be easily added. The new locations will still be subject to suitability requirements and may not be near schools.
Beneficial Holdings' affiliates will be making the application no later than March 31, 2012. The affiliates will engage BDF Bank and Assa Insurance Company as to the letters of credit in favor of INTUR for the new program.
The licensing scheme will enable Beneficial Holdings' affiliates to quickly establish new locations without apprehension since the central licensing scheme will be in place. This will allow for rapid growth and additional locations in the second and third quarter of 2012. Beneficial affiliates have been in negotiations for several new locations, but have held back because of uncertainty as to whether new regulations would adversely affect its investments. Now Beneficial can proceed with capital infusions into the lucrative Nicaraguan market.
The new licensing paradigm will also make it easier to add gaming tables to the locations in addition to the electronic machines. Gaming table availability will enable Nicaragua to compete with tourism destinations such as Costa Rica which recently introduced legislation that is not friendly for gaming enterprises or their players.
ABOUT BENEFICIAL HOLDINGS, INC.
Beneficial Holdings, Inc. is an international casino holding company, specializing in acquiring undervalued gaming assets. The Company owns a bar and casino also in Managua, a slot parlor in Masaya, Nicaragua, and a joint venture in Ticuantepe, Nicaragua. The Company operates and online live dealer casinos for non-U.S. residents.
This release does not constitute an offer of securities for sale. It contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements involve risks and uncertainties that could cause results to differ. Statements are based on information available as of today and the company undertakes no obligation to update statements to reflect future occurrences.
Contact Information
Beneficial Holdings, Inc.
+011-505-8367-3333 Telephone
Themen in dieser Pressemitteilung:
Unternehmensinformation / Kurzprofil:
Datum: 21.02.2012 - 23:26 Uhr
Sprache: Deutsch
News-ID 1085309
Anzahl Zeichen: 0
contact information:
Contact person:
Town:
MANAGUA, NICARAGUA
Phone:
Kategorie:
Government & Administration
Anmerkungen:
Diese Pressemitteilung wurde bisher 77 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"Beneficial Holdings, Inc. Affiliates to Apply for New Nicaragua Gaming License
"
steht unter der journalistisch-redaktionellen Verantwortung von
Beneficial Holdings, Inc. (Nachricht senden)
Beachten Sie bitte die weiteren Informationen zum Haftungsauschluß (gemäß TMG - TeleMedianGesetz) und dem Datenschutz (gemäß der DSGVO).
