Caribbean Casino & Gaming Corp. Announces Short Term Buy Back Program

MIAMI, FL--(Marketwire - May 29, 2012) - Caribbean Casino & Gaming Corp. (PINKSHEETS: CGAQ), "the Company," is offering to buy back shares of the Company's common, free-trading stock up to the price of $.0035 per share.

"We will make arrangements to pay for and transfer the stock without fees or commission," said CEO Steven Swank. The Company will return the stock to the treasury. "We feel we are grossly undervalued," commented Swank, "if anyone wants out, now is your chance."

The length of the program will depend on the amount of shares that are being offered to the Company. It will be on a first come, first served basis.

If interested please contact Carl Mueller, Investor Relations at (323) 954-8444.

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.