SOURCE: Caribbean Casino and Gaming Corp.

May 19, 2011 14:12 ET

Caribbean Casino and Gaming Corp. First Letter of Approval Has Been Given by Dominican Government Officials

MIAMI, FL--(Marketwire - May 19, 2011) - Caribbean Casino and Gaming Corp. (PINKSHEETS: CGAQ). On Wednesday May 18 7:00 pm, government officials handed Mr. Steven Swank the CEO of CGAQ, the first letter of approval regarding the horse track (Hipodromo Quinto Centenario), extending his stay in the Dominican Republic to ensure that he had the letter in hand to take back to the United States. Because of the magnitude of the project, we intend to post all details and endeavors on a press release next Tuesday. CGAQ is currently working on all aspects regarding revenue of the deal and further information will be posted in future press releases.

Letter of approval: http://s267.photobucket.com/albums/ii296/vayrus/?action=view&current=SW1hZ2UwMDEuanBn.jpg

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.

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