Why i have a buy on Caribbean Casino and Gaming Corp. (CGAQ)

Caribbean Casino and Gaming Corp. CEO Announces Plans for Horse Track in Dominican Republic




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Stock : Caribbean Casino and Gaming Corp. (CGAQ)
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Caribbean Casino and Gaming Corp. (PINKSHEETS: CGAQ). On Wednesday May 18 7:00 pm, government officials handed Mr. Steven Swank the CEO of CGAQ, the first letter of approval regarding the horse track (Hipodromo Quinto Centenario), extending his stay in the Dominican Republic to ensure that he had the letter in hand to take back to the United States. Because of the magnitude of the project, we intend to post all details and endeavors on a press release next Tuesday. CGAQ is currently working on all aspects regarding revenue of the deal and further information will be posted in future press releases.




Letter of approval







Caribbean Casino and Gaming Corp. CEO Announces Plans for Horse Track in Dominican Republic



Caribbean Casino & Gmng (PL) (USOTC:CGAQ)

Intraday Stock Chart

Today : Monday 23 May 2011



Caribbean Casino and Gaming Corp. (PINKSHEETS: CGAQ) A formal offer has been made in the form of a thirty page bound book, outlining our intent, and our offer to lease and purchase. Protocol prevails in this type of lease or sale; however, to our knowledge as per the commissioner himself, we are the only bidder. The horse racing commission is currently surveying the property and other legal documents in order to proceed. CGAQ has received its formal receipt of acceptance, via a signed and stamped letter, by the president and vice president of the horse racing commission. This acceptance recognizes the offer, and starts the process to lease. A separate agency handles the sale, and we are working with them to comply with all formalities and legal procedures. We intend to purchase, if they accept our offer. This is not some hokey process that can be done over night, by making some clandestine deal. We are following all the rules in order to avoid any illegality that could jeopardize the validness of the contract. There may be additional bidders, but we feel confident that our proposal will prevail. Everything being done is following Dominican law.



To make this business successful, we proposed the following:



1. We intend to renovate the facility per our agreement.



2. We intend to build a casino, and poker rooms.



3. We intend to set up breeding programs in numerous states, and countries.



4. We intend to add 200 new stables.



5. We intend to hold major boxing events, and have the support of the boxing commission, and tourism.



6. We are attempting to align ourselves with the IBF, WBF, and others to bring world class boxing to the stadium, as you know we have signed two fighters, who are 7 and 0. We are attempting to get US visas for the Dominican fighters; there are six potential fights in the US.



7. We intend to hold concerts with top entertainers in the venue.



8. We can seat 15,000 people, and another 10,000 standing in the infield.



9. We have asked for hundreds of lottery licenses, which we intend to sell and use for our own purposes, and profit centers.



The company has spent thousands of dollars to push this project this far, and we intend for all these things to happen. We have made arrangement for the funds needed per our offer.



Mr. Steven Swank, CEO, stated, "This deal is of great importance for the company and we intend to follow all legal guidelines to ensure that we don't incur in any unlawful situation, CGAQ has been complying with all necessary steps." Mr. Swank also stated, "I want everyone to know that we aren't going blind into this, we have setup teams and we have made the necessary contacts with horse racing officials from all over the United States so we can make this business as successful as it can be."



Picture of Mr. Steven Swank and the horse racing commission president:

see why MAD MONY FUND has a buy on CGAQ ...


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 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




Caribbean Casino and Gaming Corp (CGAQ) is focused on becoming the leading gaming and entertainment company in the Caribbean. Poised on maximizing upon the tremendous growth throughout the region, CGAQ has launched its first project in Puerto Plata, Dominican Republic.






The Sosua Bay Grand Casino provides the ultimate gaming and entertainment experience to the Dominican Republic. Equipped with a state of the art lighting and sound system, the Sosua Bay Grand Casino is unrivaled in the area.






With 82 slot machines, 3 roulette tables, 15 gaming tables, a VIP Texas Hold'em table, and flat screen TV's showing all the sporting events, there is something for everyone. There is a large fully stocked bar to enjoy all of your favorite beverages and a kitchen for light food items.






The Sosua Bay Grand Casino has a secured parking garage underneath the casino. Other attractions include a 3,000 square foot nightclub featuring 3 levels, a 12,000 square foot convention center featuring local and worldwide entertainment monthly. The top floor includes a high end spa, fitness center, and squash courts.






Sosua Bay Resort contains 250 rooms and many deluxe amenities, such as a spectacular heated Jacuzzi pool, 2 pools, children's pool, 8 restaurants and bars, and evening entertainment and shows. In addition, the Deluxe Rooms and Suits have a Jacuzzi right on their private terrace for in room relaxationManagement:







CHIEF EXECUTIVE OFFICER: Steven Swank - Direct Line For Shareholder Inquiries: 1.561.962.4402






Mr. Swank has been conducting business operations within Dominican Republic since 2003 which included the ownership of a hotel in Sosua, Puerto Plata and operation of Texas Hold-em poker tables through his company World Poker Tour S.A. which has been acquired by the Company.






His background includes nearly 40 years of entrepreneurial ventures ranging from real estate development, restaurant/nightclub ownership, introducing new building technology to Poland and Russia, operating a private label beer manufacturer that exported it's product to South and Central America and was the fastest growing beer in Brazil, and a small cigar rolling operation.






Steven has been successful operating the mini casino within the Sosua Bay Resort and will be responsible for overseeing the day to day operations of the Sosua Bay Grand Casino


Caribbean Casino & Gaming Corp, formerly Aladdin Trading & Co, focuses on operating and acquiring casinos and sports books throughout the Caribbean beginning with the Dominican Republic. In March 2009, the Company announced that it acquired Caribbean Casino and Gaming Corporation. The Company was a diversified Internet commerce company. It focused on building market share in the recreation, media and merchandising business through the development of leisure apparel, golf merchandise, media, travel and Internet sales, including tee time reservations, Web advertising, sales sites and related e-commerce businesses.
Projects







Sosua Bay Grand Casino. The Sosua Bay Grand Casino provides the ultimate gaming and entertainment experience to the Dominican Republic. Equipped with a state of the art lighting and sound system, the Sosua Bay Grand Casino is unrivaled in the area.






With 82 slot machines, 3 roulette tables, 15 gaming tables, a VIP Texas Hold’em table, and flat screen TV’s showing all the sporting events, there is something for everyone. There is a large fully stocked bar to enjoy all of your favorite beverages and a kitchen for light food items.






In the near future, Sosua Bay Grand Casino will be launching its REMOTE REAL TIME LIVE CASINO TABLE GAME WAGERING system in partnership with Kenilworth Systems Corporation that will allow international players to wager on live table games within Sosua Bay Grand Casino whether it be from their hotel room or at home.






The Sosua Bay Grand Casino has a secured parking garage underneath the casino. Other attractions include a 3,000 square foot nightclub featuring 3 levels, a 12,000 square foot convention center featuring local and worldwide entertainment monthly. The top floor includes a high end spa, fitness center, and squash courts.






Sosua Bay Resort contains 250 rooms with an average occupancy of 85%. Sosua Bay Resort offers many deluxe amenities, such as a spectacular heated Jacuzzi pool, 2 pools, children's pool, 8 restaurants and bars, and evening entertainment and shows. In addition, the Deluxe Rooms and Suits have a Jacuzzi right on their private terrace for in room relaxation.






Sosua Bay Grand Casino


Sosua Bay Resort






Caribbean Gaming is actively pursuing several other gaming opportunities within the Caribbean. Already equipped with a second gaming license for the Dominican Republic, Caribbean Casino and Gaming Corp expects to have another project in development in early 2010. The white-sand beaches, impressive mountain ranges veined with spectacular rivers and waterfalls, and saltwater lakes teeming with exotic wildlife are just part of the Dominican Republic's appeal. Whether you're looking to party, relax or explore, the Dominican Republic has a lot to offer. Most tourists who come to the island are initially attracted by the magnificent golden sand beaches along its 1,400km (870-mile) coast line. The island’s northern, Atlantic side contains the majority of tourist attractions, hotels and resorts, particularly in the 64km (40-mile) zone between Puerto Plata and Cabarete. Santo Domingo, in the south, features the very first monuments of the American continent: the first cathedral, the first hospital, the first chapel and the first university. In the center of the country, the three main mountain ranges run roughly parallel to each other in an easterly/westerly direction. The Cordillera Central is the highest mountain range on the island. It includes Pico Duarte, the highest mountain in the Caribbean at a height of 3,098m (over 10,000ft).











Location


The second largest nation in the Caribbean, the Dominican Republic occupies the eastern two-thirds of the island of Hispaniola in the Greater Antilles, with Haiti occupying the western portion. Situated in the heart of the region, between North and South America, the country is bathed by the Caribbean Sea on the south coast and the Atlantic Ocean to the north. With a land area of 48,442 square kilometers, it is larger than the Bahamas, Jamaica, Puerto Rico, all the Virgin Islands and the entire French West Indies put together. The Dominican Republic is approximately the size of the US state of Maryland. To the west are Jamaica and Cuba; Puerto Rico is east beyond the 112-kilometer Mona Passage; and the southern tip of Florida is about 1,000 kilometers away. The DR shares a land frontier of 275 kms with Haiti.






Topography


A land of contrasts with towering mountains and rocky cliffs, rain forests, fertile valleys, cacti-studded desert regions, 1,600 kilometers of coastline and around 300 kilometers of prime soft sand beaches. The country is crossed by four rugged mountain ranges bisecting northwest to southeast. The largest is the Cordillera Central with Pico Duarte, the tallest point in the Caribbean, rising over 3,175 meters high. Three large fertile valleys rest between the ranges, one of which holds Lake Enriquillo in the southwest, the lowest point in the Caribbean falling 40 meters below sea level and the only salt water lake in the world inhabited by crocodiles.










Climate


The Dominican Republic enjoys a year round privileged tropical maritime climate. Its latitude places the DR at the border of the tropical zone. Sea breezes refresh the insular territory (390 x 265 kms), evening out temperatures to average 23 degrees C in the early mornings to 32 degrees C at noon time year round. The lowest temperatures occur in the mountain areas near Constanza, where temperatures have dropped to 0 degrees C, and record highs have been registered at the frontier with Haiti, 39 degrees C in the summer. May through November are regarded as the rainy season. The hurricane season lasts from June through November, with August-September being the peak months. The last major hurricanes to hit the Dominican Republic were Georges (September 1998) and David (August 1979).






History


Prior to Christopher Columbus' arrival on December 5th, 1492 when he made his first settlement in the Americas, the island was inhabited by the Taino Indians. The history of the country was marked by the influence of the Spanish conquistadors, the French, and the African slaves, until independence was proclaimed in 1844 by Juan Pablo Duarte, one of the country's founding fathers. Other historical notes are the occupation of American forces from 1916-24 to ensure payment of the national debt, the 30-year dictatorship of General Rafael Trujillo from 1930-1961 and the Civil War in 1965. Since 1966, the country has been a democracy. The next presidential elections are scheduled for 16 May 2004.






Population


Estimated 9 million (2000).


A multi-racial and multi-cultural society of Spanish predominance. (European 16%, African origin 11%, Mixed 73%).


Population Average Annual Growth Rate: 1.8% (1988-1999)


Urban Population: 64.5 (1999)


Life Expectancy: 71 years


Health: Infant mortality rate--39.5/1,000.






Major cities


The capital is Santo Domingo (de Guzmán), the oldest and largest city in the Caribbean with a land area of 230 square kilometers and a population of over 2.5 million (1997). Santo Domingo is the second largest city in the Caribbean, after Havana, Cuba. Other principal cities are Santiago de los Caballeros (500,000), La Vega (225,000), San Francisco de Macorís (175,000), San Cristóbal (160,000), San Pedro de Macorís (150,000), La Romana (140,000), Puerto Plata (130,000), and San Juan de la Maguana (130,000).






Administrative divisions


The Dominican Republic is divided into 31 provinces and one National District (Santo Domingo). The provinces are: Azua, Baoruco, Barahona, Dajabón, Duarte, Elías Piña, El Seibo, Espaillat, Hato Mayor, Independencia, La Altagracia, La Romana, La Vega, María Trinidad Sánchez, Monseñor Nouel, Monte Cristi, Monte Plata, Pedernales, Peravia, Puerto Plata, Salcedo, Samaná, Sánchez Ramírez, San Cristóbal, San José de Ocoa, San Juan, San Pedro de Macorís, Santo Domingo, Santiago, Santiago Rodríguez, and Valverde.






Government


The Dominican Republic is a representative democracy with national powers divided among independent executive, legislative, and judicial branches. The president appoints the cabinet, executes laws passed by the legislative branch, and is commander in chief of the armed forces. The president and vice president run for office on the same ticket and are elected by direct vote for 4-year terms. Legislative power is exercised by a bicameral Congress--the Senate (32 members) and the House of Representatives (178 members).






The Dominican Republic has a multi-party political system with national elections every 2 years (alternating between presidential elections and congressional/municipal elections). Presidential elections are held in years evenly divisible by four. Congressional and municipal elections are held in even numbered years not divisible by four. International observers have found that presidential and congressional elections since 1996 have been generally free and fair. Elections are supervised by a Central Elections Board (JCE) of 9 members chosen for a four-year term by the newly elected Senate. JCE decisions on electoral matters are final.






Under the constitutional reforms negotiated after the 1994 elections, the 16-member Supreme Court of Justice is appointed by a National Judicial Council, which is comprised of the President, the leaders of both houses of Congress, the President of the Supreme Court, and an opposition or non-governing-party member. One other Supreme Court Justice acts as secretary of the Council, a non-voting position. The Supreme Court has sole authority over managing the court system and in hearing actions against the president, designated members of his cabinet, and members of Congress when the legislature is in session.






The Supreme Court hears appeals from lower courts and chooses members of lower courts. Each of the 31 provinces is headed by a presidentially appointed governor. Mayors and municipal councils to administer the 124 municipal districts and the National District (Santo Domingo) are elected at the same time as congressional representatives.Recently, the country has attracted large investments from tycoons such as Donald Trump, who is pouring more than $1 billion into resort and residence development on the island. In May, Donald Trump sold a whopping $368 million worth of lots in only 4 hours, part of a gigantic development called Cap Cana on the Dominican Republic's eastern tip. Built in partnership with a Dominican company called the Abrisa Group, Cap Cana will eventually cover 30,000 acres. It will feature luxury hotels, a huge marina with slips for mega-yachts, condos, luxury mansions and several golf courses designed by Jack Nicklaus. The project is cementing the Dominican Republic's entry into the high-end market, while creating thousands of jobs for Dominicans.







CGAQ's management team, after 5 years of researching the area, is confident they have found the jewel of the Caribbean offering the finest beaches, crystal clear Caribbean water and endless options for activities and adventures. Sosua, Puerto Plata is the Acapulco of the Dominican Republic and where you could say tourism first began back in the 70s and 80s. The first project is a casino servicing the patron's of the Sosua Bay Resort; a four star waterfront resort with 250 room and 4 restaurants, 3 pools, and steps to one of the country's most popular destinations; Sosua beach.






CGAQ's Sosua Bay Grand Casino is a 3 story entertainment complex overlooking the Sosua Bay Resort, beach, and Sosua bay. The 36,000 square foot building houses the brand new Sosua Bay Grand Casino, a nightclub, convention center, spa and fitness center. This is the premier location within Sosua as the main roads in the city lead you to the front door of the Casino. It’s within walking distance of local restaurants and businesses including the extremely popular Sosua beach. The location offers a tremendous advantage over the closest competitive casino within Sosua, primarily because it is located within walking distance of the main tourist areas of Sosua, and virtually all traffic must pass its building.


CGAQ continues to keep focus on big picture opportunities and maintaining its growth and expansion not only in the Dominican Republic, but throughout the Caribbean.






CHIEF EXECUTIVE OFFICER: STEVEN SWANK


Mr. Swank has been conducting business operations within Dominican Republic since 2003 which included the ownership of a hotel in Sosua, Puerto Plata and operation of Texas Hold-em poker tables through his company World Poker Tour S.A. which has been acquired by the Company.


His background includes nearly 40 years of entrepreneurial ventures ranging from real estate development, restaurant/nightclub ownership, introducing new building technology to Poland and Russia, operating a private label beer manufacturer that exported it's product to South and Central America and was the fastest growing beer in Brazil, and a small cigar rolling operation.


Steven has been successful operating the mini casino within the Sosua Bay Resort and will be responsible for overseeing the day to day operations of the Sosua Bay Grand Casino.





























here is an estimated amount of money the horse track make daily $ 860,587.00= About $23,000USD.







That does not include any betting made outside the track nor at any lotteries etc.


Sounds to me like CGAQ plans to make a darn nice facility at the only racetrack in the country and in the biggest city in the country. This is on the verge of something huge. I'm investing now with faith CGAQ will be operating as owners of the racetrack.







This accomplishment will greatly increase investor confidence removing all doubt of all current CGAQ projects and their ability to pull them all off..