New Internet Operator on the Block

New Internet Operator on the Block

News from Las Vegas is that an enterprise that has its origins in sex pills and weight loss solutions is expanding into the online and land gambling industry.

Beneficial Holdings has already acquired a small land casino and a license in Managua, Nicaragua through a subsidiary titled Grupo Beneficial, and has plans to move into the online gambling sector, according to a company statement. The company does not plan to seek any US business until the legal problems associated with accepting US players can be resolved.

Possibly encouraging shareholders and investors, Beneficial makes the rather bullish prediction that the online gambling sector will be worth $48 billion by 2010, and taking a longer view could reach $125 billion by 2015!

Carolina Navarro, the company's president, says the company respects and supports the Unlawful Internet Gambling Enforcement Act, and will therefore accept only European and Asian players once the online operation is up and running.

"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," she said.

There was no indication as to which software company Beneficial may approach to power its new online casino venture.

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