SOURCE: Caribbean Casino and Gaming Corp.

January 03, 2011 08:00 ET

Caribbean Casino and Gaming Corp. Announces Casino Luperon Opens the New Year With a Great Performance

MIAMI, FL--(Marketwire - January 3, 2011) -   Caribbean Casino and Gaming Corp. (PINKSHEETS: CGAQ) -- CGAQ announced today that it brought in the New Year with a great crowd at the opening of its Casino Luperon location. The Galactic night club also continued its business with success. The entire acquisition is considered to increase gross margins per square foot of operations dramatically considering the minimal marketing budgets required and the economies of scale taking effect throughout the company. CGAQ plans on ensuring investors that each acquisition is a true profit center.

CEO Steven Swank stated, "Yes, it is almost impossible to specifically nail down a date for a grand opening after construction in the Caribbean, but when we finish, we make a grand appearance. The opening created extended hours of entertainment throughout the resort and town."

Locals were extremely happy that they didn't have to travel 40 miles for entertainment after midnight. Casino Luperon and Galactic Night Club are open from 8 PM to 4 AM. However, the casino may follow suit with Sosua Bay Grand and open their slot machines earlier in the day. The new street with lighting increased local customer satisfaction. The tourists continued to drive the momentum with their need for additional entertainment after the last hotel show. Hotel shows end at around 11:00 PM. 

Mr. Swank continued, "Another beauty of this location is the cost savings in marketing budgets. We have a locked in crowd from the hotel and the town. The word about a new venture such as this has been the talk of the town. Further, the economies of scale are rising with our acquisition by combining the accounting and personnel departments with that of the Sosua Bay Grand Location."

CGAQ will be updating the CGAQ Facebook Site this week with pictures from the Grand Opening. The site can be viewed at the following link:!/group.php?gid=130413013645240

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 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.

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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