SOURCE: Caribbean Casino and Gaming Corp.

October 04, 2011 11:38 ET

Caribbean Casino and Gaming Corp. Report

MIAMI, FL--(Marketwire - Oct 4, 2011) - Caribbean Casino and Gaming Corp. (PINKSHEETS: CGAQ) - Mr. Steven Swank CEO, has been told by the horse racing commission, that the company will receive a letter explaining the delays, and that all background searches have been completed, and accepted, and that the company is very much at the top of the list for acceptance of the horse track "Hipodromo V Centenario." Letter will be posted as a PR once it has been received.

The company also is currently engaged in its final Due Diligence on 3 new locations to be opened in Cartagena, one of the most important cities of Colombia. Mr. Swank's Due Diligence team will be meeting with the Mayor of Cartagena today at noon. This project constitutes a great revenue source, as the city of Cartagena is a large tourist attraction.

All projects are currently in progress and more updates will be reported 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.

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