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Caribbean Casino Corporation Hosts Successful Boxing Event(April 27, 2012)
MIAMI, FL -- (Marketwire) -- 04/27/12 -- Caribbean Casino Gaming Corp. (PINKSHEETS: CGAQ) ("the Company") is pleased to announce that it hosted a successful boxing event at its Sosua Bay Convention Center above the Grand Casino & Disco in Puerto Plata, DR. The event occurred on April 21st, 2012 and featured 7 bouts between fighters from the US and the Caribbean. The 90% sold out event was carried by two DR television stations. This was the Company's fourth attempt at staging a boxing match and was the first time it turned a profit. Unlike previous events, the promotion & prize monies were collected up front. The company made a modest profit of $12,000 US on the boxing match alone. "You live and learn," said CEO Steven Swank. "This time we put ourselves in a better position." The real profits came later when the majority of those in attendance finished their evening downstairs in the Company's Casino & Disco. "The place was packed," said Swank. "The whole point of staging the boxing was to attract people to the Casino & Disco."
The whole affair was considered a great success, not the least of which was Angel Cruz, the Company's Assistant Casino Manager, stepping in at last minute to the role of ring announcer. "He was better than the so-called 'professionals.' He'll be our ring announcer for all our bouts!" commented Swank.
The event was produced by Michael Duzant, the joint venture partner of the Company for all boxing events as well as the trainer for the fighters signed by CGAQ. A video of the fight will be available at the Company's website shortly: www.sosuabaygrandcasino.com
The event was broadcast across the Dominican Republic. The next day, the bigger of the two TV stations began negotiating for the exclusive air rights for the next event. "This means more upfront money which means better prize money, better fighters, more promotion, bigger gate and more profit," stated Swank.
In other news, the Company has begun work with a marketing firm to set up distributors of Bionic Tonic and Lady Pink throughout its exclusive territories of the Caribbean, Central & South America. The marketing firm has agreed to work on a commission-only basis and reports that they already have very serious interest in Ecuador. Samples of the product have been shipped.
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.
Caribbean Casino and Gaming Corp.
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