SOURCE: Caribbean Casino and Gaming Corp.

February 28, 2011 12:01 ET

Caribbean Casino and Gaming Corp. Success in Convention in Panama

MIAMI, FL--(Marketwire - February 28, 2011) - Caribbean Casino and Gaming Corp. (PINKSHEETS: CGAQ), CEO, Mr. Swank and joint venture partner Global Gaming Labs, S.A. (GGL), participated in a convention celebrated in Panama City with over 100 people from the gaming industry, started with a reception that both companies held for participants in the penthouse of the RIU hotel. At the convention there was great enthusiasm for the Kiosk project between the attendees of the convention, where demonstration discs where handed out and they were presented with instructions on how the Kiosks work and the live dealer feature.

Mr. Swank, CEO, stated, "Everyone who watched the disc and saw how the live dealer and kiosks work were very impressed, the project was the main attraction of the whole convention."

All this enthusiasm will carry on to the second convention that CGAQ will participate in, Caribbean Gaming Show 2011, the largest convention celebrated in all the Caribbean, in which Gamebase® will be shown to some of the biggest names in the industry and the company will be accepting orders. This convention is to take place on March 3rd and 4th in San Souci port convention center. As the last press release showed, CGAQ has been granted by the government of the Dominican Republic a certification to manufacture, import and export the Gamebase ® (Please review past PR for link to the certification published online).

Mr. Swank said on this matter, "We have huge expectations for this convention, it will be the 2nd convention we participate in, we will have our stand in which people will have the chance to see the Gamebase ®, and place orders."

Link to information on the CGS 2011:

In another matter CGAQ has received concerns from investors regarding discounted free trades that were sold to raise money for company expansion posted on the 3rd quarter financials; this is currently being revised and will be corrected in the yearend financial report.

On this matter Mr. Swank stated, "I'd like to thank the people who brought this to our attention, once I heard of this matter I got in touch with the company's CPA and we are having them revised as this is a horrible mistake. Selling discounted stock to keep the company debt free and yet continue to expand is something normal for public companies, but discounted at the prices that have been posted is just ridiculous."

Future news will be coming in the coming weeks on the company's expansion efforts.

About this Mr. Swank said, "We are currently negotiating our final acquisition, if this works we will bring the company to a higher asset level, I will pass on further acquisition and only work on raising the price per share."

First trip winners have arrived, please look out for their posts and reviews on the operations.

About Caribbean Casino and Gaming Corp.:

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

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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