Caribbean Casino and Gaming Corp. Moving Forward With Boxing and Software

MIAMI, FL--(Marketwire - Jun 16, 2011) - Caribbean Casino and Gaming Corp. (PINKSHEETS: CGAQ). All parties have confirmed their participation in the meeting to be held in Tampa on the 17^th and 18^th of June. CGAQ has received the confirmation from IBF officials, horse racing commission President and Vice-President, the horse track administrator, and the Dominican Republic Boxing commissioner and other managers and promoters. Further Information will be released after the meeting.

Mr. Steven Swank, met with government officials regarding the software project. Mr. Steven Swank, CEO, stated, "I met with high ranking officials of the Dominican Republic government in regard to the software project and they expressed the importance of this deal, we are moving forward at a good pace." The next day a government official went to an interview on national television where he spent two hours addressing the media on the importance of this transaction and how much it was needed.

Progress reports will be posted as events occur.

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.