Caribbean Casino and Gaming announce plans for horse track in Dominican Republic

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 the company is working with them to comply with all formalities and legal procedures.

The firm intends to purchase. “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,” sources of the company added.

To make this business successful, Caribbean Casino and Gaming proposed the following: To renovate the facility per their agreement, to build a casino and poker rooms, to set up breeding programs in numerous states and countries, to add 200 new stables.

Other proposals are: to hold major boxing events and have the support of the boxing commission and tourism, to try to align with the IBF, WBF, and others to bring world class boxing to the stadium and to intend to hold concerts with top entertainers in the venue.

CGAQ also said that they can seat 15,000 people, and another 10,000 standing in the infield, and they have asked for hundreds of lottery licenses, which they intend to sell and use for their 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”, the press release added.

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."