MIAMI, Nov. 11, 2009 (GLOBE NEWSWIRE) -- Caribbean Casino and Gaming Corp. (Pink Sheets:CGAQ) is pleased to announce that the Sosua Bay Grand Casino has met profit expectations since the grand opening on October 24th, 2009.
Steven Swank, Chairman and Chief Executive Officer stated: "This is tremendous news to the future performance of our first project as this is currently the slow tourist season in the area. We have been able to maintain steady traffic which will only grow as we increase the live events to our convention center and enter into the high tourist season. We maintain our optimism that we will meet or exceed our financial projections."
The management team from Caribbean Casino and Gaming Corp. (Pink Sheets:CGAQ) has plans to visit a second possible location in the Caribbean this month and is excited about the potential this may have for the company. Caribbean Casino and Gaming Corp. (Pink Sheets:CGAQ) and its joint venture partner Kenilworth Systems Corporation are on schedule to be able to demonstrate the REMOTE REAL TIME LIVE CASINO TABLE GAME WAGERING system to the international public from its operations within the Sosua Bay Grand Casino.
Kenilworth Systems Corporation owns patents for this technology in the U.S. and fifty-one other industrialized countries, including China, Japan and Russia. Caribbean Casino and Gaming Corp. has a ten year contract with Kenilworth Systems Corporation.
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.