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MIAMI, FL -- (MARKET WIRE) -- 11/10/10 -- Caribbean Casino and Gaming Corp. (CGAQ
CGAQ has commenced a due diligence effort upon its own company in order to understand and better communicate the stock market's recent reaction to positive growth without debt. In so doing, a number of articles from third party companies were found which will help investors understand the value and charts involved with CGAQ stock. The following information gathered by CGAQ should help new investors understand the true valuation the company has and should be reflected by the stock during the course of the next 12 months.
CEO Steven Swank stated, "Occasionally, the stock market reacts to any individual stock as if it were a pony in a horse race. This is evident by the recent market capitalization of our debt free company that is growing exponentially within one year of its grand opening. We offered the 3 for 2 stock conversion to minimize supply of the stock and reward long term investors while deterring mal intent of stock manipulation by day traders. We have considered taking the company private once again but understand that the current pricing will not benefit the long term investors or should I say partners who have helped make us a success."
On May 26, 2009 the share value of CGAQ shares soared to a record intraday price of $1.05 cents per share. The share price was based solely upon the intrinsic value placed upon the objectives and business model created by CEO Steven Swank previous to the start of its fiscal operations. Thereafter, an article released by www.stockreads.com on June 27, 2009 pronounced, "We think CGAQ can be a monster in the making... The deal announced on June 12, 2009 (Kennilworth Systems) could be worth as much as $2.5 Billion in revenue to CGAQ over the life of the deal... If CGAQ does as well as we expect, the stockholders should trade North of $2.00 per share."
Mr. Swank continued, "As an entrepreneur, I certainly understand speculation. However, reaching levels of $1.05 per share previous to the fiscal start of operations only to reach new lows while all milestones have been completed or are in place, while the evolution of our kiosk systems have commenced, makes me wonder who real investors are. I'm personally buying back as much stock as I can, as is the company."
On October 24, 2009 CGAQ opened its doors to the public at its Sosua Bay Grand Casino and the start of an empire had become reality. In less than a single quarter, CGAQ was nearly profitable less the tax deductions taken to ensure value to shareholders. As CGAQ gained momentum, with clients and revenues, the value to investors became apparent. Based on an annualized estimate of book value with a share price of $0.07, CGAQ estimated the book value would be approximately $0.2135 as opposed to its current price per share of $0.01. The estimate was based upon expected tangible assets and did not include the intrinsic value of its Live Video Internet Gaming Division licensed in 52 countries or the manufacturing and distribution rights to its revolutionary kiosk system which has currently taken in preliminary orders of over $450,000 of pre-production sales. Further, the estimate did not include the intrinsic value once associated with the operations of CGAQ's realm and diversity within the gaming industry throughout the International Arena, its leadership in boxing events which have been aired on ESPN Deportes throughout the world, its celebrity entertainers and its current casino acquisitions.
Mr. Swank stated, "You could not build the Sosua Bay Grand Casino for the current Market Capitalization of the stock right now. We have obviously done much more than build a single casino. I look forward to watching the stock escalate to the price valuations it deserves this year."
Caribbean Casino and Gaming Corp. Announces Payment for Casino Luperon Has Been Made With a Grand Opening Scheduled for December 20th, 2010
November 10, 2010 9:56 AM ET
Caribbean Casino and Gaming Corp. (PINKSHEETS: CGAQ) announced today that payment has been made for the 2nd casino location situated on the waterfront adjacent to Lou Perone Marina Resort within an exclusive, self reliant resort community. The Luperon Marina Resort, considered the most desirable marina on the North Coast Waterfront of the Dominican Republic, is stationed along a tranquil bay that hosts nearly a 100 yachts. Numerous residents live aboard these yachts while the marina has become a fantastic transient destination for sea going vessels.
CEO Steven Swank stated, "This is a gold mine for CGAQ as the overhead expense and investment are minimal compared to the Sosua Bay location and includes a captive audience in a remote waterfront location."
The hotel features 860 rooms that have been reserved at 100% occupancy until Easter 2011 and is expected to produce 1500 - 2000 visitors per day. The location includes the Galactic Night Club and is the only casino and nightclub within a 40 mile drive.
Mr. Swank continued, "Our conservative preliminary revenue estimates initially expected to equal or exceed the Sosua Bay location which made it an obvious acquisition, however taking into consideration the final costs and economies of scale, we expect the revenues from the Luperon location to far exceed that of the Sosua Bay location. Further, it continues to increase the book value of our company."
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.
