The Caribbean Casino & Gaming Corp. , an over-the-counter penny stock trading in the range 0.31 to 0.39 and claiming a market cap of $20.67 million, has advised the market that live betting cameras and software will be installed over table games at its Sosua Bay Grand Casino in the Dominican Republic within the next two weeks. Games offered will include Texas Hold 'Em.
In May the company announced a joint venture with Tradewinds Broadcasting Corp. to deploy technology that allows online viewing and betting of live Texas Hold Em tournaments and permits online wagering on the live players themselves. This new technology will stream real time images of games via broadband public internet, accompanied by opportunities to wager on the outcome of individual hands, individual players and the outcome of tournaments.
"The difference is like watching a live sporting event instead of a time delayed game with a determined outcome," remarked Steven Swank, president of Caribbean Gaming and Casino Corp., owner of the Sosua Bay Grand Casino. "It is an interactive experience never offered before now. We hope to have this up and running by late 2009."
The company reports that the new contract is ready to be delivered, which includes patent rights for 51 countries, and 2 151 casinos. This contract will, the company claims, give CGAQ a multimillion dollar revenue stream that can generate income within the next 90 days.
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.
Swank says that 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.
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