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Beneficial Holdings to Develop Online Casino Operations
LAS VEGAS, NEVADA --
Beneficial Holdings, a company built on late-night infomercial products like sexual enhancement pills and weight-loss products, is continuing its expansion into the gaming industry by developing an online casino operation. The company recently acquired a land-based casino, and now plans international online gambling activities to expand its gaming portfolio.
Just over a week ago, Beneficial obtained licensing to do business in Nicaragua. Within days of receiving that permission, Beneficial purchased a casino in Managua under its Grupo Beneficial brand.
Yesterday, the company announced the Board of Directors had given executive leadership a mandate to begin developing an online casino brand. The Internet gaming will include slots, card and table games.
Beneficial says estimates that the online gambling industry will reach $48 billion in sales next year and $125 billion by 2015 made it imperative for the company to expand in this area.
Unless and until US gaming laws change, Beneficial, a US company, will not be serving US patrons.
"As a United States corporation, we recognize and support the Unlawful Internet Gambling Enforcement Act of 2006 and believe we can comply and be extremely profitable by accepting only European and Asian clients," said Carolina Navarro, president of Beneficial Holdings. "Recognizing international gaming laws, including a prohibition on players from the United States, is an essential part of the company's strategy to avoid costly regulatory matters that other online casino companies are facing."
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