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Carib Gaming Opening New Facility


Turquoise Development, Inc. (Pink Sheets:TQDC) announced that Carib Gaming, the largest gaming operator on the Turks and Caicos Islands, is slated to open its new casino-style slot parlor on December 8, 2006. Turquoise Development owns a 25% stake in Carib Gaming.
 
Carib Gaming will now offer casino style games such as Black Jack, Roulette and Poker as well as traditional slot machines, as it currently offers in 23 locations on the Turks and Caicos Islands. "This new and unique entertainment is just what is needed in this fast growing tourist destination. We strongly feel that this expansion will be a driver towards further revenue growth," remarked Turquoise president Jason Gin.

This news release contains forward-looking statements regarding Turquoise's business strategies and future plans of operations. Forward-looking statements involve known and unknown risk and uncertainties. The company's risks and uncertainties include: intense price competition, economic, political and regulato

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What is the Commission's role in regulating Class III gaming?

They do not. The Division developed an internal control form for the use of its permittees. The form has not been mandated. Organizations may use the Division form or their own control form if they prefer, as long as it meets the Division's basic requirements. It is important to maintain adequate control of bingo activity. In order to do so, organizations need to pre-count and post count their bingo paper, which must be sold at a uniform unit price, and they need to account for their admissions and the sale of bingo cards or sheets by individual worker. Without these procedures, there is no way an organization can know with certainty how much money it should have taken in during a session, or where any shortage or overage, if any, occurred.
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Electronic Video Bingo Distributor

Definition:A person or business entity who owns and leases electronic video bingo machines to a charitable organization in this state.

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