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i agree. we need to get the news out. we need to let every ihub board and stock board know about this news. we also need the signed contract from the goverment. would be nice if the goverment release there own news to. that would stop all the doubters.
not the day i expected but nice close
i dont mind it being slow but i cant understand the selling. why would any one sell.
i agree. people will kick them selfs if they miss this. im getting more. just waiting for funds to clear.
wake up cgaq. i didnt expect a slow start like this. oh well, slow and steady wins the race .
whos happy today i know i am. we should see a steady rise up now to well over a dollar imo
Caribbean Casino and Gaming Corp. Explains Transactions With Dominican Government
Date : 05/02/2011 @ 9:28AM
Source : MarketWire
Stock : Caribbean Casino and Gaming Corp. (CGAQ)
Quote : 0.037 0.0025 (7.25%) @ 9:30AM
Caribbean Casino and Gaming Corp. Explains Transactions With Dominican Government
Caribbean Casino & G (USOTC:CGAQ)
Intraday Stock Chart
Today : Monday 2 May 2011
Caribbean Casino and Gaming Corp. (PINKSHEETS: CGAQ). On Tuesday, after some delays CGAQ expects the first letter of approval from the government of the Dominican Republic regarding the 4th acquisition. This deal consists of the lease with an option to buy, El HIPODROMO QUINTO CENTENARIO, the only horse race track in the country which is currently owned and operated by the government (there are no other horse race tracks in the country).
This deal includes the following:
1. Casino License valued at $350,000 USD (expected to be built as a Vegas style Venue)
2. Professional Boxing License valued at $10,000 USD
3. Bingo License valued at $10,000 USD
4. Sports betting License valued at $13,000 USD
5. Slots License valued at $150,000 USD
6. Lottery betting license valued at $3,000 USD
7. License to install two thousand (2,000) betting locations in Dominican territory valued at $6,000,000 USD
8. Tax exception for the life time of the contract.
9. The property of the race track as we see it is valued at $60,000,000 USD.
The race track property consists of 650 acres, 1 and 1/16 mile of a full size race track, 200 horse stables and a seating capacity for 15,000 people. We expect to replicate famous US race tracks by having concerts, pro boxing, wrestling, and many other events. Standing room and infield seating could accommodate an additional 10,000 people.
CGAQ has 45 days to agree or amend some of the terms in the deal. It has put $1,000,000 USD in an escrowed account with a New York Attorney firm.
Final contract terms will be discussed in the following weeks.
On this acquisition Mr. Steven Swank, CEO, stated, "This is a huge deal for the company which will represent a revenue source of great importance and value. All aspects involved in this deal are valued in the millions of dollars. This is something that has been worth the wait with all the work involved." Mr. Swank also stated, "This is the only horse race track in the country with no competition, it is an enormous property, in which we can develop other projects, and being able to open 2,000 betting locations will mean that CGAQ will have a dominant presence in almost all the Dominican territory."
This deal brings the company to a whole new level that will propel it into one of the leading names in gaming in the Dominican Republic as well as the Caribbean. This has been the main goal for CGAQ since it opened its first casino operation. Operating the only horse racing track in the country means no direct competition for the company.
The company has also started a lottery betting operations in the Dominican Republic. CGAQ has started by opening 8 lottery betting operations in Puerto Plata, with plans to raise that number to up to 20 in the near future. These lottery stands are all over the country and represent a very good revenue stream for the company. People in the Dominican Republic have 3 different lottery drawings per day which are all played by millions every day.
Mr. Swank emphasized on this matter, "We are not stopping our growth plan. CGAQ is getting involved in every gaming aspect that can present future revenue and growth. The opening of these locations gives us a feel on what kind of revenue this can bring to the company in a large scale operation. We are starting with a few but if everything goes as expected we will open all 2,000 or can sell some of them, or joint venture the others."
CGAQ also has a 2nd deal pending with the Dominican Government. This is a software contract waiting for approval. This project should generate over $1,000,000 USD each month for our company, at this time we are preparing a live demo containing newly developed software as requested by certain government officials. This outcome should be forth coming very soon.
Mr. Steven Swank CEO, stated, "I am no longer giving exact times, as some time lines are out of my control when dealing with the government." He also stated, "I will do my very best effort to make these important deals come true."
About Caribbean Casino and Gaming Corp:
Caribbean Casino and Gaming Corp (PINKSHEETS: CGAQ) is the owner and operator of the Sosua Bay Grand Casino and Afterone Disco. The corporation is focused on becoming a leader in the Caribbean for gaming and entertainment, including live betting 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 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 of 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.
Any questions please contact
Roberto Cabrera
Investor Relations
R_cabrera_1999@yahoo.com
that is fantastic news.
hi buddy. great minds must think alike. im in cgaq and another one your in dtr_ . both look good. i think cgaq will turn out to be the best long term play if the goverment deal takes off and all the other things
now we need roberto to clear things up. its things like this we need him most.
well said. i live in the uk but its a service to us all imo.
nice email. who knows how big this could get. think i will get more on monday
im in thanks to you
people are buying below the ask
im not selling any. would be stupid to sell with big news coming.
no as you cant even sign up to there site if your in the usa. they are ok .
could you find out the float for us. if its close to being locked up that will bring more people in
thats sounds even better. they have already given us the exclusive rights to the koisks. thats big on its ownt. so that means its some thing even bigger they are working on. lots of things in the pipe line.
thanks roberto. iwas happy any way but now i feel even better. i cant wait till the big news comes out and shuts some people up. im here to invest and have been for over a year . i flip other stocks but thats because there either not real or there being pumped. this is an investment. good luck to all the longs. you dont get many investments stocks in the pinks and this is the best.
the mms brought it down to get more shares and set off stop losses on the way. unlucky for some. i have none set for this so they cant catch me out
i dont care how low it drops. im holding, nothing has changed. i will just buy more off the flippers and then there will be none for them to flip soon lol
flippers out investors in
this will go straight back up. nice
cool im getting more cheap ones
ithink the deal has been thrashed out and all agreed. this is just the legal and paper work stuff. thats hoe deals are normally done. you discuss it face to face, shake on it then submitt the paper work so every thing is legal.
very nice update. this is not a pump or they would tell us what the deal is. they are doing it properly like the big companies. they will tell us when signed
this is funny. its all over the place. buys send it down. sells send it up. i love it
he wants shares. i want to know what the float is now.
i like the slow and steady rise. that way we build support all the way up and there is no crash back down.
are they buys or sells
i wont. i havent been here for this long to sell on a shake out.
im a long have been for over a year. little shakes wont make me sell
roberto, can you tell me what the float as it looks very tight.
thats why we need to get out the pinks. too many flippers. move up and you get more investors.
maybe the mms are taking it up to the flippers sell price to get more shares as there running out
every thing is coming up as sell and its still going up. are people buying below the ask to save a few dollar. silly people. if every one buys at the ask it would be 0.1 now imo
its all over the place lol
eod it will finish in the high 40s imo.
your all ready wrong. its gone up nearly 300%. Im doing real good. deal with it
some people have no sense mate. this just keeps going up and some people continue to bash and flip. it makes me laugh. im back in the green after a year of averaging down but im not selling as i belive in cgaq and wish to retire early lol. i belive there is more than one pr coming and this could continue to rise all year imo