SOURCE: Caribbean Casino and Gaming Corp.
MIAMI, FL--(Marketwire - December 27, 2010) - CGAQ (PINKSHEETS: CGAQ) announced today its grand opening of the Galactic Night Club ensured success and is an asset to the new Casino Luperon location. The acquisition company has moved with certainty and its ability to project the great locations for its business model. Further, utilizing the same business model that consists of the local crowd supporting the day to day operating cash flow while the tourists create a bonus to its profitability, the location promises to be the exclusive entertainment and gaming company within a 40 mile radius. CGAQ has recently paved a new street entrance to its location to save local clients from the pre-existing, unlighted road and the additional mile of driving.
CGAQ Investor Relations Representative Tyler Cornell stated, "After personally visiting the location, it has well exceeded my expectations. Considering its beach front location, high class resort, high per capita tourist clientele, new street and it being the only entertainment within 40 miles, Mr. Swank has created another winning venture for investors. Further, the Galactic Night Club was overflowing with customers."
Due to inclement weather conditions, the casino's grand opening has been delayed shortly as its ceiling construction is a detailed process which could not be disturbed during the recent rain storms that were prevailing throughout the final week of renovations.
CEO Steven Swank stated, "As the Galactic night club filters in the crowds of customers from the respective community, CGAQ expects the gross margins of its new casino location to surpass that of its original location, the Sosua Bay Grand Casino. Although the weather has slightly delayed the renovations, we are looking forward to the final steps for completion and the Grand Opening to be held shortly thereafter. In between, the excitement of our future customers and the exposure to them is growing swiftly as they attend the night club."
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:
Tyler Cornell
Investor Relations
CGAQ
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