SOURCE: Caribbean Casino and Gaming Corp.

March 22, 2010 08:42 ET

Caribbean Casino Gaming Corp. Looks to Be a Household Name in the Caribbean as It Enters Negotiations to Expand Nationwide

MIAMI, FL--(Marketwire - March 22, 2010) - Caribbean Casino and Gaming Corp. (PINKSHEETS: CGAQ) announces its intent to expand its operations to Santiago and Santa Domingo, Dominican Republic as it negotiates the build out terms for two new casinos within 2 brand new hotel complexes. The expansion opportunities offer CGAQ the ability to become a household name for Dominican Republic residents and will offer the high quality gaming experience it is known for at its Sosua Bay Grand Casino location throughout the country. 

CEO Steven Swank states, "Creating a high quality gaming experience for local residents and tourists has proved to be a viable and exciting venture, while branding our name internationally with our sporting events. Our expansion plans will further embed the name Caribbean Casino and Gaming Corp. into visitors' and locals' minds as the premier entertainment destination within the Dominican Republic." 

Santiago, Dominican Republic and Santo Domingo, Dominican Republic are premier destinations for tourists and include 1 to 4 million residents, respectively. The success of the Sosua Bay Grand Casino location and stockholders has made this growth opportunity viable.

CEO Steven Swank continued, "Our local clients have provided a stable business platform for expansion, while our tourist revenue continues to be a bonus. Duplicating this model in more populated cities should continue our growth pattern exponentially while we entertain offers to expand into other countries." 

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.

Contact Information

  • Contact:
    Caribbean Casino and Gaming Corp.
    Tyler Cornell
    Investor Relations
    Email Contact
    631-765-8762