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Betting on CGAQ

The share price for Caribbean Casino and Gaming Corp. (PINK:CGAQ) has been slipping lately, ahead of the company's first release of financials promised to investors some time in January. With only a week to go in the month of January, those financials are due out at any time.

Though it is possible, it is highly unlikely that the share price will slip much further as investors sit on pins-and-needles, eager to see the results from the casino's first few months of operations. With the casino recently reporting that they are drawing near to their milestone with $1 million in wagers on December 29, investors are expecting to see positive numbers that will reflect in a sudden rise in share price immediately following the release of the financial statements.

Caribbean Casino and Gaming Corp. opened its casino on October 25, 2009. Since opening, the casino has been granted a sole license to conduct real-time online betting by the Casino Commission of the Dominican Republic. They have also arranged a boxing event to be held on March 13, 2010, which should produce interest and revenue for this new casino. The actual casino for CGAQ is named 'Sosua Bay Grand Casino'. You can check out a video of the grand opening for Sosua Bay by visiting the casino's main web site at http://www.sosuabaygrandcasino.com/hotelcasino.php



Disclosure: Long CGAQ