SOURCE: Caribbean Casino and Gaming Corp

May 06, 2010 08:00 ET

Caribbean Casino and Gaming Corp Completes Online Gaming Tests for Live Roulette and Sports Wagering: World Wide Launch Set for June 2010 With Estimated Revenues of $250,000 per Month

MIAMI, FL--(Marketwire - May 6, 2010) -  Caribbean Casino and Gaming Corp (PINKSHEETS: CGAQ) announced today, that its Sosua Bay Grand Casino location has completed its live online gaming division tests and will commence cash wagering in June 2010. The division includes the Live Online Broadcast and Wagering for Roulette and its Online Sports Book Wagering. Revenue estimates for the division are forecast to exceed $250,000 per month.

CEO Steven Swank said, "Our state of the art technology puts CGAQ at the forefront of the casino gaming industry, while branding our name for international tourism, increasing consumer confidence and creating a large profit center that utilizes existing fixed costs."

CGAQ plans to expand testing for the video feed live wagering to other games including Caribbean Stud Poker and 3 Card Poker upon the launch of Roulette in June. Mr. Swank continued, "Utilizing the video format of online gaming to ensure consumers of the internet gaming worlds' integrity is the wave of the future. Further, bringing the technology to other games expands our consumer base on all levels."

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.

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.

Contact Information

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    Caribbean Casino and Gaming Corp
    Tyler Cornell
    Investor Relations
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