SOURCE: Caribbean Casino and Gaming Corp.

May 31, 2011 15:47 ET

Caribbean Casino and Gaming Corp. Announces Opening of Slot Parlor

MIAMI, FL--(Marketwire - May 31, 2011) - Caribbean Casino and Gaming Corp. (PINKSHEETS: CGAQ). The Puerto Plata Slot Parlor is open and has already started to make a profit. The slot parlor had a great start bringing in profit the first day and has continued its success the following days. It has been quickly adopted by the population in Puerto Plata who seek new, modern recreation centers, and there is no other place in the city that can offer them this.

Mr. Steven Swank, CEO, stated, "We have delivered a place like no other in the city and we have gotten a very positive response from the people." Mr. Swank also stated, "We will keep up our growth plan, and continue with acquisitions. CGAQ is in the best position it has ever been and everyone needs to understand that everything is being done to raise the company higher every day."

Financials have been posted after a short setback that delayed it for a couple of days. Current status should be changed in the next few days; the Company would like to apologize for this inconvenience, but this situation was beyond the Company's control.

Progress reports on all other CGAQ activities will be posted as they progress.

About Caribbean Casino and Gaming Corp.:

Caribbean Casino and Gaming Corp. (PINKSHEETS: CGAQ) is the owner and operator of the Sosua Bay Grand Casino and Afterone 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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