Caribbean Casino and Gaming Corp Approaching Milestone With $1 Million in Wagers

MIAMI, FL--(Marketwire - December 29, 2009) - Caribbean Casino and Gaming Corp (PINKSHEETS: CGAQ) is approaching its first milestone with nearly $1 million in wagers being placed in the Sosua Bay Grand Casino since its opening in late October.

The company should surpass $250,000 in winnings by the end of the year and plans to present positive financials to the public in January. "This is great progress considering this is a slow time of year in the area," states Steven Swank, CEO. "We project this figure to more than double as we just now enter the high tourist season and plan key monthly events in our Event Center. We have positioned the company properly with no debt, limited overhead, and in a prime location in order to maximize our return and become a true landmark for the area." The Sosua Bay Grand Casino is proving to be a great start for the Company as it looks to expand throughout the Country.

The Live Real-Time Betting can continue to be played for fun on the website www.sosuabaygrandcasino.com nightly by following the link to LIVE BETTING. The company expects to begin accepting bets outside of the United States, and where allowed, within the next 2 months. This could prove to be a tremendous additional revenue stream for Caribbean Casino and Gaming Corp as it allows visitors to enjoy a true gaming experience at their convenience wherever they are located.

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.

Contact Information: CONTACT: Steven Swank