LAS VEGAS, NV, Mar 19, 2012 (MARKETWIRE via COMTEX) -- Beneficial Holdings, Inc. (pinksheets:BFHJ), in its strategy to move its operations domestically, announced that it intends to apply for a Nevada Intrastate Gaming License which will enable it, partnered with a licensed casino operator, to offer certain online games to residents of Nevada. With a license under Nevada Regulation 5A, the Company may be able to offer non-gaming hotels access to the online casino in customer rooms in Nevada for people want to play the offered games.
The Company is in negotiations with several consultants who work with Nevada licensed casinos to finalize a joint venture agreement. In the interim, the Company is establishing a system that will begin with poker and, as regulations allow the expansion into other areas of play, offer live dealer games. The Company, as a Nevada corporation, will acquire the facilities to headquarter its technology in Nevada to make it a true intrastate offering.
As other states begin to allow licensing of online casinos, the Company will attempt to utilize its forthcoming Nevada facilities where possible.
Pursuant to the September 2011 opinion by the United States Department of Justice authored by Assistant Attorney General Virginia A. Seitz finding that the Wire Act of 1961 only applies to sports gaming bets, the Company believes that opportunities will be available for it on an intrastate level, state by state, as regulations are issued. As such, the Company will focus its energy domestically during this year.
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 www.sportsbook.cr and www.bet.cr 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. www.beneficialholdings.info www.bet.cr www.sportsbook.cr +505-8367-3333 Telephone
SOURCE: Beneficial Holdings, Inc.
http://www.beneficialholdings.info http://www.bet.cr http://www.sportsbook.cr/
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