MIAMI, FL--(MARKET WIRE)--Jun 12, 2009 -- Caribbean Casino and Gaming Corporation (Other OTC:CGAQ.PK - News) is pleased to announce that it has entered into a six (6) month online Test Simulcast Broadcast Agreement with Kenilworth Systems Corporation.

Caribbean Casino and Gaming is a gaming and entertainment company that owns full gaming licenses in the Dominican Republic, including Texas Hold Em, and will operate the Grand Casino at Sousa Bay Resort in Puerto Plata, Dominican Republic, its second casino in the region. Caribbean recently signed an exclusive Agreement with Trade Broadcasting Corp to offer Texas Hold Em Tournaments throughout the Caribbean Islands. Caribbean plans to relocate the smaller Grand Casino to an adjoining 250 room hotel that will include a disco, four (4) restaurants, three (3) pools and a vastly expanded casino to accommodate Caribbean Stud Poker and Texas Hold Em tournaments. Kenilworth will complete the test before the Grand Casino is relocated.

Kenilworth owns patents filed in the U.S. and in fifty-one (51) industrialized countries including China, Japan and Russia in which are located 2,151 casinos. The patents are for systems and methods for playing casino table-type games such as roulette, dice and baccarat in an interactive manner at sites remote from the actual casino table at which cameras follow the live game that is being played in strictly regulated casinos. It allows players to be able to wager as if they are in the actual casino playing at tables rather than virtual make believe or number generated casino games from studios that European operators wish to promote in the United States, when online internet online casino gaming legislation introduced by Congressman Barney Frank becomes law, it will create huge tax benefits for local/state and federal budgets.

The patented technology includes the use of lottery-type terminals that accept cash deposits while managing the wagering by using lottery data systems that can easily identify problematic gamblers and limit or shut down their compulsive gambling habits and also prevents underage participation when state operated lotteries become involved.

Herbert Lindo, Chairman and Chief Executive Officer, stated: "Simulcasts of remote casino table games to homes, cell phones, public gathering places such as cafés, hotels, resorts, horse race tracks and selected restaurants and bars is the direction of the future."

Lindo further stated: "Denmark, Sweden, Poland, Switzerland and France have either passed or are preparing legislation permitting only remote live games from their own casinos with the same tax benefits, halting virtual wagering and number generated games along with studio games. The reason we are developing the software and the required equipment is to market the live game broadcast technology together with licensing our patents."

As part of the Test Agreement, among other considerations, Kenilworth will pay one half of one percent (.05%) for a period of ten (10) years, from the net, net win earnings from an estimated undisputed annual $500 billion worldwide market in the not too distant future (up to $2.5 billion annually). Kenilworth's software and technical personnel will assist Caribbean, if needed, to complete the Texas Hold Em tournament broadcast system.

ABOUT CARIBBEAN CASINO

Caribbean Casino & Gaming Corp is a gaming and entertainment company that owns full gaming licenses in the Dominican Republic, including Texas Hold Em. It will operate the Grand Casino at Sousa Bay Resort in Puerto Plata.

For more information or investor questions, contact Nicky Coachman at 305-573-0821 or visit our website at http://www.caribbeangamingcorp.com.

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 as a result of various factors, and other risks identified in a company's annual report on Form 10-K or 10-Q and other filings made by the Company with the Securities and Exchange Commission. 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 Kenilworth undertakes no obligation to update such statements.

 

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