SOURCE: Caribbean Casino and Gaming Corp.

January 17, 2013 13:00 ET

Caribbean Casino & Gaming Announces Name Change and Reverse Split

MIAMI, FL--(Marketwire - Jan 17, 2013) - Caribbean Casino Gaming Corp. (PINKSHEETS: CGAQ) (PINKSHEETS: CGAQD), "the Company" is pleased to announce that FINRA has approved the Company's name change and a 1: 35 reverse split of its common stock.

The new name of the Company will be "Caribbean International Holdings, Inc."

FINRA announced yesterday that "This corporate action will take effect at the open of business 1/17/2013. Your new symbol will be CGAQD. The "D" will be removed in 20 business days and the new symbol will be CIHN."

In other news, Dr. Frank Leiber is expected to finalize negotiations and take the reins of the Company. Current CEO Steven Swank will retain his role as the Chairman of the Board.

"The name change and stock consolidation are designed to give Dr. Leiber a running start," stated Swank, "I expect him to take us in a positive direction."

"I'm thrilled with the expectations of taking charge of the Company," said Leiber, adding "these changes to our corporate structure along with funds in the bank open the door to many excellent and profitable opportunities for us."

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.

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