Caribbean Casino and Gaming Corp (CGAQ) Announces the Bidding for the Race Track Is to Be in December 2011

MIAMI, FL--(Marketwire - Oct 26, 2011) - Caribbean Casino and Gaming Corp. (PINKSHEETS: CGAQ). We have been informed that other potential bidders were eliminated for various reasons. CGAQ feels fairly confident that we can prevail; however, nothing is guaranteed.

The kiosk project is moving as fast as possible; we have discovered a second manufacturer and have advanced money to build another prototype that we think will give us a tremendous edge in the marketplace. While working with numerous buyers, we will be able to retail slots for around $6,900 USD, at least $3,000 USD to $8,000 USD under current new equipment. They will be shipped broken down, and reassembled in the Dominican Republic, saving import taxes, and freight costs.

CGAQ is meeting with the Colombian operators of our casino venture in Florida this coming weekend. After the contract is signed, we will pass our money to get started. This is a three casino deal, and takes time. We can be open in January or February if everything goes as planned.

The fight on November 18th will be the greatest of all, and will put us on the map.

About Caribbean Casino and Gaming Corp:

Caribbean Casino and Gaming Corp (PINKSHEETS: CGAQ) is the owner and operator of the Sosua Bay Grand Casino, and Afterone 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.

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.