SOURCE: Caribbean Casino and Gaming Corp.

November 30, 2010 08:00 ET

Caribbean Casino and Gaming Corp. Announces Casino Luperon Bay and Galactic Night Club Renovations Are Ahead of Schedule -- Grand Opening December 20, 2010

MIAMI, FL--(Marketwire - November 30, 2010) - Caribbean Casino and Gaming Corp. (PINKSHEETS: CGAQ) announced today that the company's Casino Luperon Bay and Galactic Night Club location is officially ahead of schedule by at least four days per a recent meeting with the general contractor.

CEO, Steven Swank stated, "This is how we like to do it. I've said many times that things work a little slower in the Caribbean, but as our name grows, our ability to perform continues to improve."

CGAQ will have its Grand Opening of the waterfront Casino Luperon Bay and Galactic Night Club location December 20th, 2010. The grand opening will be during the height of the tourist season within the Dominican Republic. As an acquisition company that has exceeded growth expectations, CGAQ is prominently placed to be the leader in the gaming and entertainment industry, throughout the Caribbean.

Mr. Swank continued, "The more we progress, the more the economies of scale fall into place and the easier it is to continue to accomplish our goals. The grand opening will certainly be exciting for us during the holiday season."

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 it will 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 Statements

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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