Nicaraguan Gaming Operator Enters Online Casino Field

A new online casino will be opened by Beneficial Holdings of Nicaragua, as soon as negotiations with potential operating partners are completed.

Beneficial Holdings, a company which has rapidly acquired assets in South America in the land-based casino industry, is continuing its plans to become a force in the online casino world. The company announced today in a press release that it had narrowed the field for a vending partner to two companies.

While not releasing the names of the prospective partnership for the online gambling venture, Beneficial officials did explain the process which led them to the decision. The original plan to base operations in Costa Rica and handle development and processing itself became problematic to Beneficial as Costa Rica tightened regulations and eyed taxation.

Beneficial is now desiring a joint venture which would operate under an existing license, with programming and operation of the online casino to be handled by the vendor. Processing and technical support would also be included.

Beneficial would oversee the operation, using its brands and standards of design, and pay the vendor a commission in the range of 25 percent. Company officials say negotiations should be complete by the beginning of November, and then the Internet gambling site could be operational within two months.

Beneficial already has an affiliate relationship with Virgin Games, which will continue until the new deal is finalized.