SOURCE: Caribbean Casino and Gaming Corp.

January 20, 2011 09:49 ET

Caribbean Casino and Gaming Corp. Announces Former Investor Relations Director, Tyler Cornell, Has Been Retained by CGAQ as a Consultant

MIAMI, FL--(Marketwire - January 20, 2011) - Caribbean Casino and Gaming Corp. (PINKSHEETS: CGAQ) -- CGAQ announced today that Tyler Cornell, the former Investor Relations Director, has been retained as a consultant. Although the details of the contract between CGAQ and Tyler Cornell have not been released, his duties will include training staff members to facilitate information to investors in a timely fashion.

The efforts of CGAQ and Tyler continue to maintain at the highest level of growth. The renegotiation of terms resulted from an erroneous email distributed Monday.

Tyler stated, "There isn't much I wouldn't do to help Steven build this company, but if information is distributed incorrectly, information that might affect my family, I realized it might be more beneficial to all partners of the company if I advise staff from a stockholder's perspective, as a stockholder and consultant. The staff is great and if I can take Roberto to the next level, I feel all our investments in the company will prosper."

CGAQ mentioned that although the internet and actions of the information distributed over the Internet leaves "footprints," the company concentrated on business at hand, while their technology team worked on discovering who sent the message. Mr. Swank stated, "Instead of taking a coffee break, Tyler just moves the location of his computers to keep going day and night. I don't know who sent that message yet, but I expect they must have seen him work in one spot and thought he quit when he left to his next spot. Unfortunately, it cost us all a little time. Things like this slow us down but must be addressed to continue our growth pattern." 

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.

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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