SOURCE: Caribbean Casino and Gaming Corp

June 22, 2010 15:03 ET

Caribbean Casino and Gaming Corp Announces Letter From PinkSheets.com Which Confirms CGAQ Status Is Now Current Information

MIAMI, FL--(Marketwire - June 22, 2010) - Caribbean Casino and Gaming Corp (PINKSHEETS: CGAQ) announced today that it has just received written confirmation from Pinksheets.com that their reporting status has been upgraded to Current Information. The additional work and efforts to become a great communicator of information to their stock holders has been recognized accepted and rewarded.

In an email received today, Andrew Lawyer of Pink OTC Markets, Inc. stated, "After a form check of the information posted to OTCMarkets.com, I have determined that the company has met the requirements for the Current Information tier for the period ending 03/31/2010. The company will be moved to the Current Information tier no later than the next market open."

CEO Steven Swank stated, "This is a great day for CGAQ. Among all of our efforts, we have again taken our acquisition company to a new level. This will increase investor confidence, shareholder wealth and attract additional long term investors."

CGAQ had previously stated that they were looking forward to becoming the most transparent pinksheet company out there. This new level of recognition by PinkSheets.com is evidence of its commitment to follow through with all goals and statements made.

Mr. Swank continued, "We are excited for the investor confidence and now our investors can be even more excited."

About Caribbean Casino and Gaming Corp:

Caribbean Casino and Gaming Corp (PINKSHEETS: CGAQ) is the owner and operator of the Sosua Bay Grand Casino. The corporation is focused on becoming a leader in the Caribbean for gaming and entertainment to include live betting in its partnership with Kenilworth Systems Corporation from cameras located above tables within the Sosua Bay Grand Casino. Not only will Caribbean Casino and Gaming Corp offer world class gaming and accommodations within its facilities for those visiting our properties, but also allow patrons to wager (where allowed) from the comfort of their own home or hotel room. The casino is now the centerpiece in the Sosua Bay Resort at Puerto Plata, Dominican Republic, the largest and most populated Caribbean Island.

FORWARD-LOOKING STATEMENT

This report contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. "Forward-looking statements" describe future expectations, plans, results, or strategies and are generally preceded by words such as "may," "future," "plan" or "planned," "will" or "should," "expected," "anticipates," "draft," "eventually" or "projected." You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements. The forward-looking statements in this report are made as of the date hereof and Caribbean Casino and Gaming Corporation undertakes no obligation to update such statements.

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