Conihasset's Wholly Owned Subsidiary MH Gaming Reports 17.86% Increase in Continuing Same Store Sales for Third Quarter 2011
October 04 2011 - 7:30AM
Marketwired
Conihasset Capital Partners (PINKSHEETS: CNHA) announced today that
its wholly owned subsidiary MH Gaming ("MHG") recorded an increase
in continuing same store sales of 17.86% for the third quarter 2011
when compared to the third quarter 2010.
"This is a tremendous revenue result for MHG," stated Richard
Bailey, President and Chief Executive of Conihasset. "The summer
months are historically the slowest, most difficult three months of
the year. The fact that Tom Melina and his management team exceeded
our revenue expectations during the third quarter is very important
as we position ourselves for the busy season over the next two
quarters."
"I am obviously very pleased with our revenue results this
quarter," stated Melina, MHG's Chief Operating Officer. "Our focus
during the off-season was to experiment with different promotional
approaches in an effort to better understand the customer
experience. During this quarter we developed a very targeted and
specific promotional strategy which resulted in three of our five
best revenue days to date in 2011. We look forward to employing
these strategies as well as other initiatives, such as our newly
launched shuttle bus service, as we head into the busiest six
months of the year."
During the quarter, MHG also closed the Vero Beach facility
which had been consistently unprofitable since MHG acquired the
three facilities on December 30, 2010.
About Conihasset: Conihasset Capital
Partners, Inc. is a holding company quoted on the OTC Pink Market
under the ticker symbol CNHA. The Company's primary operating
subsidiary is MH Gaming ("MHG"), which currently owns and manages
senior entertainment arcades in the state of Florida.
FORWARD-LOOKING
STATEMENTS: Statements included in this press release that are
not historical facts are "forward-looking statements" within the
meaning of the Private Securities Litigation Reform Act of 1995
(the "1995 Act"). Words such as "believe," "expect," "anticipate,"
"intend," "look forward," "opportunities," "potential," and similar
expressions identify forward-looking statements. The Company
cautions readers that forward-looking statements reflect the
Company's current expectations and assumptions that are subject to
certain risks and uncertainties which could cause actual results to
differ materially from those projected in the forward-looking
statements. Statements made herein are made in reliance on the safe
harbor for forward-looking statements contained in the 1995 Act.
The Company assumes no obligation to update or revise any
forward-looking statements made herein or any other forward-looking
statements otherwise made by the Company.
Contact: Richard Bailey 617-320-8347 Conihasset 759 CJC
Highway, #235 Cohasset, MA 02025 Tel: 617-320-8347 Facsimile:
617-249-0198 www.conihasset.com