SOURCE: Caribbean Casino and Gaming Corp.

June 19, 2012 08:00 ET

Caribbean Casino & Gaming Corp. Posts 25% Increase in Assets

MIAMI, FL--(Marketwire - Jun 19, 2012) - Caribbean Casino & Gaming Corp. (PINKSHEETS: CGAQ), "the Company," is pleased to announce it has filed its latest financial reports on viewable here:

The Company expects to have its "Current" status reinstated very shortly.

The balance sheet for the first quarter of 2012 shows the Company's assets are now valued at $3,456,627 which translates into $.01 per issued common share. This is an increase of $701,182 which represents an increase of 25.4% year over year. "Obviously, we are undervalued by the market at this point," said CEO Steven Swank, adding, "But I expect that to change soon enough."

New strategies and business plans are being drafted that will address the advancement of the many projects the Company has in development. These will be made public when they are ready.

In other news, the Company has ended its stock buyback program.

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.

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