SOURCE: Caribbean Casino & Gaming Corporation

December 28, 2010 16:08 ET

Caribbean Casino and Gaming Corp. Announces Pink OTC Markets Reinstates CGAQ Disclosure Status to Their Top Reporting Tier; "Current Information"

MIAMI, FL--(Marketwire - December 28, 2010) - Caribbean Casino and Gaming Corp. (PINKSHEETS: CGAQ) announced today that www.PinkSheets.com reinstated CGAQ to the top tier of information disclosure made by a company under the Pink OTC Markets Guidelines on December 27, 2010. PinkSheets.com states, "Companies that follow the International Reporting Standard or the Alternative Reporting Standard by making filings publicly available through the OTC Disclosure & News Service pursuant to Pink OTC Markets Guidelines for Providing Adequate Current Information are designated as Pink Sheets Current Information." 

CEO Steven Swank stated, "The reporting requirements are stringent which is why I am happy to have continued to report at the highest level of disclosure. Although it is not required for CGAQ to report at this level we continue to work as diligently as possible to maintain the highest level of transparency for our current investors and future investors."

Pink OTC Markets website goes on to say, "...companies with securities on the OTC market represent a broad and diverse group, with different levels of financial strength, disclosure availability, and management quality. They span all major sectors and industries and are characterized by market capitalization levels ranging from micro-cap start-ups to large-cap multi-national companies.

"Companies such as Roche, adidas, Air France-KLM, Benetton, Computer Services and Deutsche Telekom choose the OTC market and the OTCQX® premium market tier to make their securities available to U.S. investors.

"Investor-focused companies may use either the OTCQX listing service, SEC Reporting or Pink OTC's Alternative Reporting Standard to provide transparency to individual investors and the professional investment community. These services increase the flow of information, raise the profile of OTC companies, improve price discovery, and increase trading and liquidity in the OTC market."

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.

Contact Information