SOURCE: Caribbean Casino and Gaming Corp.

September 22, 2010 10:41 ET

Caribbean Casino and Gaming Corp. Increases Revenue & Operating Hours With Electronic Bingo; Company Forecasts an Additional Twenty Thousand Dollars per Month in Revenue

MIAMI, FL--(Marketwire - September 22, 2010) -  Caribbean Casino and Gaming Corp. (PINKSHEETS: CGAQ) announced today the addition of their Electronic Bingo System within the Sosua Bay Grand Casino. Each table seats 20 players for touch screen action. The players watch the mounted TV screens as the numbers are pulled. The system has drawn a new base of customers and revenue streams by attracting consumers who are content with bingo and avoided casinos. As the bingo games are played, starting 6 hours previous to the original opening time of 8PM, the slot machines and roulette will be opened with educational seminars and real money play. 

CEO Steven Swank stated, "We are extremely pleased with the turnout we have had for Bingo. It has opened the doors to a new customer base, increased revenues resulting directly from Bingo and offers many customers their first opportunity to play the slots and roulette."

The addition of Bingo alone is expected to increase revenues by over Twenty Thousand Dollars per month without considering the additional revenues created from slots, roulette, food and beverage sales. Increasing revenues during the Dominican Republic's slow season is a feat rarely done. 

Mr. Swank continued, "Utilizing every asset we have to gain additional revenue and wealth for the company continues to be our goal."

CGAQ has recently commenced its entry into the international online gaming market with its Live Video Online Gaming. The system offers online players the ability to play alongside customers within the physical casino via non-delayed video broadcast throughout 52 countries (WHERE ALLOWED BY LAW ONLY). The site is located at www.sosuabaygrandcasino.com

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.

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