SOURCE: Caribbean Casino and Gaming Corp.

February 22, 2011 08:00 ET

Caribbean Casino and Gaming Corp. Announces Giant Steps Toward the Worldwide Gaming Industry

MIAMI, FL--(Marketwire - February 22, 2011) - Caribbean Casino and Gaming Corp. (PINKSHEETS: CGAQ), A certification has been issued from the finance department and casino commission of the Dominican Republic in which grants Alheli, S.R.L, subsidiary of CGAQ, rights for manufacturing and importing the Kiosks named Gamebase ®. With this certification the company can open a manufacturing/assembly plant in the Dominican Republic and with the DR-CAFT (Free trade agreement with USA, Central America and Dominican Republic) export the units to any of these countries with no or very low customs taxes. The company also announces its 50/50 Joint Venture with Global Gaming Labs, S. A. (GGL), proprietors of software that operates the Kiosk for the Gamebase ® project.

On this matter Mr. Steven Swank, CEO of CGAQ, stated, "This is the beginning of a series of steps in making the Kiosk project a huge stream of revenue. Having the government of the Dominican Republic give us certification opens a world of opportunities for CGAQ, we can have the Gamebase ® in any casino, sport betting operation, clubs, restaurants and any other place that the law permits."

The Gamebase ®, comes with Touch screen, speakers, microphone, bill and credit card acceptor, receipt printer and the software integrates live table games, like black jack, roulette, poker other table games like craps, also has a sports and horse race betting, and a great variety of slot games and bingo.

Mr. Swank also commented, "This type of technology is fully customizable so it is not limited to anything preloaded, we can add any kind of betting games that we wish, and there is no other betting station that can do this."

The Gamebase ® will be shown in a casino exhibition in Panama next week and in the casino convention in Santo Domingo, Dominican Republic to be celebrated in March of this year, where the prototype will be shown to casino owners, distributers and companies from around the world.

Mr. Steven Swank commented on this: "This will be the opportunity for casino giants that come from all over to see what is new in the industry get a chance to see what the Gamebase ®, can do for their operations. This is a grand opportunity for CGAQ to trampoline into the worldwide market of the gaming industry."

A copy of the certification is available in the following link

Progress reports will be posted regularly.

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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