SOURCE: Caribbean Casino and Gaming Corp.

February 02, 2011 11:40 ET

Caribbean Casino and Gaming Corp. Announces Big Negotiations in Process

MIAMI, FL--(Marketwire - February 2, 2011) - Caribbean Casino and Gaming Corp. (PINKSHEETS: CGAQ) -- A group of VIPs will fly to Costa Rica to discuss all aspects for the Kiosk program. Mr. Swank has gathered a group of people that will visit the software developing operation for the Kiosks in Costa Rica; they will discuss the best way to distribute this ground braking technology and how to make it global. This meeting will open the possibility for the company to enter the global gaming industry.

Mr. Swank, CEO, stated, "This technology is something that can be placed anywhere that gambling is legal, it can be setup in any language or place in the world." As for the group going to visit Costa Rica he also stated, "These people have been in the gaming industry for years. Their point of view and knowledge on strategic ways to distribute the Kiosks around the world is something that is invaluable."

The 24 hour 7 days a week slot parlor that will be CGAQ's 3rd operation in the Dominican Republic, in the city of Puerto Plata, is starting construction and it's scheduled to start operating very soon. Also the Luperon Bay Casino has been tweaked in order to lower over head and increase significantly all profits. The Sousa Bay Grand Casino has seen an increase of 25% the amount of players; this has had a very positive impact on revenues.

On this matter Mr. Swank stated, "I am very happy to see the company grow this way, we are working very hard to make our goal in CGAQ (becoming the leading gaming and entertainment company in the Caribbean) a reality." Mr. Swank also stated, "Selling stock does not help the company or investors; buying stock enables the company to build the base so we all make money in the near future. We are on track to make this happen."

More progress reports on all the topics will be posted as they progress; CGAQ is making all necessary changes in the company in order to boost revenues and meet all goals in the near future.

About Caribbean Casino and Gaming Corp.:
Caribbean Casino and Gaming Corp. (PINKSHEETS: CGAQ) is the owner and operator of the Sosua Bay Grand Casino, Afterone Disco, the Luperon Bay Casino and Galactica Disco. The corporation is focused on becoming a leader in the Caribbean for gaming and entertainment, including live betting 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 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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