Beneficial Holdings Contracts to acquire seven gaming locations in Nicaragua

This acquisition will bring the company's total number of locations to eight. The firm will take possession of one of the locations in Masaya, Nicaragua, within a week. Management from Inversiones Nacionales Capri of Managua, which is the seller of the businesses, will assist Beneficial Holdings, Inc. during the transition phase of this acquisition in exchange for a temporary management fee of 10% of the monthly net profits from the new locations.

Another two locations are also in Masaya. The remaining four establishments being acquired are in Managua and Tipitapa, Nicaragua. On average, each location has been in business and profitable for over five years.

The acquisition will increase the company's gaming machine inventory to over 200 electronic gambling devices including slots, poker machines, and modern digital games manufactured by International Game Technology of Reno, Nevada.

Over the next 60 days, the company will be engaged in intensive monitoring of the locations to determine methods to improve customer service, increase revenues, modernize the establishments, and offer additional products and services.