SOURCE: Caribbean Casino and Gaming Corp.

February 19, 2010 16:22 ET

Caribbean Casino and Gaming Corp. Continues Its Growth

MIAMI, FL--(Marketwire - February 19, 2010) - Caribbean Casino and Gaming Corp. (PINKSHEETS: CGAQ) has completed its financials for its first fiscal quarter of operations and has earned a gross profit of $233,112(US) from gaming operations during the 68 days since the grand opening. The company remains debt free and the financials will be posted on Tuesday, February 23, 2010 for the quarter ending Dec 31, 2010.

CGAQ's CEO, Mr. Swank, stated, "We are excited about the growth of the company and continue to invest in its growth. We have added an additional $150,000(US) to our Dominican Republic operating capital, are preparing for our internationally televised boxing event on March 12, 2010 broadcast by ESPN Deportes and finalizing the infrastructure of the real-time remote gaming within the Sosua Bay Grand. Further, our Live Sports Wagering system will be available for the Boxing Event and thereafter."

CGAQ and De Cuba Presents held a press conference on location within the Sosua Bay Casino yesterday. The conference included both print and television stations including ESPN Deportes. Mr. Swank added, "The success of the press conference will increase the event's exposure, demand for ticket sales and our casino clientele. All event contracts are in order and we are extremely pleased with the media's participation in helping promote this great competition along with our own advertising campaigns."

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:
    Tyler Cornell
    Investor Relations
    631-765-8762
    Email Contact