MIAMI, FL--(Marketwire - November 3, 2010) - Caribbean Casino and Gaming Corp. (
Mr. Swank mentioned, "After a great turnout for our One Year Anniversary Week Party, the start of the tourist season and all the projects we have in place, we expect a significant growth in our stockholders' investment throughout the coming year. We greatly appreciate the long term investors and how they have helped our success."
CGAQ's Anniversary Week Party included the celebration of its past and present projects. Mr. Swank continued, "We have signed the final contract for our second casino location recently. All furnishings, carpeting, table games have been ordered while the slot machines are stored and ready to go. Our current game plan is to have our Grand Opening between December 20 and the New Year. As you may know, things in third world countries often take a little more work and time. Often this is also associated with the importation of equipment however we always get the job done."
Mr. Swank confirmed a significant portion of the project is tied to the disco build out and that everything is in motion. The new casino and nightclub is expected to match the revenues of its Sosua Bay location.
In addition to the build out of CGAQ's second location, Mr. Swank announced the earnest money deposit on its third location has been made. The third location is on the North Coast Ocean Front of the Dominican Republic. Mr. Swank stated, "This has been another grand achievement for the staff, shareholders and I. We will be updating shareholders with additional information in the near future."
When discussing the new kiosk systems to be distributed throughout small business establishments, Mr. Swank smiled and said, "The system that we have been testing for some time now is the best! We have a great profit structure in place for production and sales while already having pending orders of 100 kiosks at $4500(US) each. This business will be run by CGAQ's corporate subsidiary to keep each aspect of the business focused on as its own profit center. I expect this to generate revenues that exceed that of the casino."
In closing Mr. Swank discussed the recent share price and requested patience from the shareholders as the company continues its expansion and book value of the stock by mentioning, "It is our partnership with the stockholders which has created such a great business. I ask that we continue the partnership for the long term and continue to build together. We are still debt free and have enough money to cover our expansion efforts. With a little patience the share values will gain momentum and rise."
About Caribbean Casino and Gaming Corp:
Caribbean Casino and Gaming Corp (
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:
Tyler Cornell
Investor Relations
CGAQ
Emergingmarkets3@Yahoo.com