MIAMI, FL, Nov 30, 2010 (MARKETWIRE via COMTEX) -- Caribbean Casino and Gaming Corp. (pinksheets:CGAQ) announced today that the company's
CEO, Steven Swank, commented, "We are filling the niche for gaming entertainment across all levels from physical locations to the Live Video Internet and now the physical outlets within the mass market."
The system has created over $450,000 in advance orders since the basic prototype was unveiled. As manufacturing of the advanced product is in process, the company expects to sell an additional one million dollars in kiosks and will receive royalties on all gaming action from each machine after distribution. Sales are expected to grow further after the first distribution cycle.
Mr. Swank continued, "Receiving royalties on all the machines that we sell is similar to becoming the McDonalds franchise of the gaming industry without having to absorb the overhead of a physical location."
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 This e-mail address is being protected from spambots. You need JavaScript enabled to view it
SOURCE: Caribbean Casino and Gaming Corp.
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