SOURCE: Caribbean Casino and Gaming Corp.
MIAMI, FL–(Marketwire – September 13, 2010) – Caribbean Casino and Gaming Corp. (
In an attempt to block all US credit cards, until legislation is passed to include the United States as a legal online gaming marketplace, the third party credit card merchant system denied 80% of all transactions. Immediately upon CGAQ’s understanding of this, the system was temporarily disabled to ensure customer satisfaction for new customers. CGAQ’s credit card vendor has solved the problem and is expected to commence operations within 48 – 72 hours. The technology offers compatibility with our systems and is able to ensure the company abides by current gaming legislation offered to the countries it retains licenses for.
CEO Steven Swank stated, “I personally tested the system again last night. Everything is working perfectly. We are making the adjustments now to finalize our ability to legally collect the gaming wagers where it is permissible by law. In addition, we have upgraded our electrical system and are in the process of upgrading our UPS system. A sizeable investment in our infrastructure, such as this, will maintain all services 24 hours a day 7 days a week.”
CGAQ further announced their investment into the technology, world-wide manufacturing and distribution rights for a Kiosk System that is synchronized with its online gaming system. The Kiosks are to be sold to retail outlets around the globe. In addition to the sales of the physical Kiosks, CGAQ will maintain royalties on all play action generated by participating outlets. Mr. Swank continued, “Once again, we have exponentially improved the potential revenues from a single profit center to profit centers everywhere. In addition to having our logo in all of these locations, we are looking forward to finalizing the purchase of the 2 casino locations previously announced in our press releases. The correct due diligence for these new locations has taken longer than expected, but all milestones are on track. Sometimes things take a little longer in the Dominican Republic, but we continually move forward with our goals.”
About Caribbean Casino and Gaming Corp:
Caribbean Casino and Gaming Corp (
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.