SOURCE: Caribbean Casino and Gaming Corp

July 07, 2010 11:56 ET

Caribbean Casino and Gaming Corp CEO Overview Since the First Fiscal Quarter of Business Less Than 9 Months Ago

MIAMI, FL--(Marketwire - July 7, 2010) -  Caribbean Casino and Gaming Corp (PINKSHEETS: CGAQ) CEO announced today that he is providing an overview of the company business since its fiscal inception less than 9 months ago. CGAQ continues its attempt to be the most transparent Pinksheet company listed.

CEO Steven Swank discussed the company today saying, "Today is July the 7th, 2010 and I'm looking back to the date we opened our doors for business on October 24, 2009. Our Company has gone through numerous changes to benefit the shareholder wealth of our stockholders.

We opened with a fantastic party, not everything was perfect, but it was a very successful opening because of our lighting technology and our unique design that is second to none within the boutique casino industry.

We have made numerous internal management changes to ensure we operate at the highest level of gaming entertainment for our customers and wealth for our stockholders. As stockholders are aware, we are very close to launching our Live Video Roulette around the world. I don't know of any casino in the world that has a license to operate legally with any type of similar technology. We really believe this will dwarf our present casino revenue with yearly net income in the millions. This is important to maintain our continued strength, acquisitions and create a cushion should the seasonality of our brick and mortar business have a mild return. Further, our brick and mortar locations will give Internet Gaming a legitimate name via an existing customer base that can attest to the quality operations we run.

We of course are the new leader in the Dominican Republic for Boxing. In fact, we have signed two of our own boxers who will have their professional debut, wearing our colors, during the August 21st event. We have moved the event to Puerto Plata to increase our ticket sales by 300%. In addition we are now considering a contract for Extreme Cage Fighting in the exhibit hall. 

Bingo machines have been ordered to maximize our space previous to regular casino hours and take in additional sports betting. The Sports Betting System is almost ready and another new revenue stream will be forth coming.

Within the North Coast of the Dominican Republic, I am quite sure we are the most profitable casino with the lowest overhead, highest quality and best technology. We continue to reinvest in our growth company while maintaining a quality entertainment experience for gaming, internet gaming, sporting events, disco events and our new bingo parlor."

Mr. Swank finished by saying, "In closing, we are in good shape with cash and have many new acquisitions in the works. Thank you all for your support."

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.