Caribbean Gaming and Casino group has announced what it boasts is a "revolutionary" online Texas Hold ‘Em gaming deal as part of a joint venture agreement it has signed with the Tradewinds Broadcasting Corporation. The objective of the partnership is to introduce live online wagering during poker games beamed over the Internet from a Caribbean island.
Company spokesmen said this week that Tradewinds Broadcasting Corp. will 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."
Steven Swank, president of Caribbean Gaming and Casino Corp., said: "The difference is like watching a live sporting event instead of a time delayed game with a determined outcome. It is an interactive experience never offered before now. We hope to have this up and running by late 2009."
"Integration of live play and online wagering on the players themselves brings a whole new dimension to the rapidly growing number of Texas Hold Em fans," commented Allen Engebretsen, a director of Tradewinds Media. "We are seeing the same kind of excitement as when I was setting up local pub tournaments to feed championship players in to the big tournaments such as the World Series of Poker. The potential for this technology is absolutely amazing."
The Caribbean Gaming and Casino group is based in Tamarac, Florida and is currently building a new gaming and entertainment facility branded Sosua Bay Grand Casino, which is located in the heart of Sosua, Puerto Plata in the Dominican Republic. The project is scheduled for completion in August 2009 and will comprise a three storey entertainment complex overlooking the Sosua Bay Resort, beach, and Sosua bay. The 36 000 square foot building will house a casino, a nightclub, convention center, spa and fitness centre. The company holds appropriate licensing in the area.
Swank has been conducting business operations in the Dominican Republic since 2003, including the ownership of a hotel in Sosua and the operation of Texas Hold-Em poker tables through his company World Poker Tour S.A. which has been acquired by the Caribbean Gaming and Casino group. He is joined in CGCG by Armando Casciati, the owner and operator of the $40 million dollar waterfront resort Sosua Bay Resort and the new building being constructed for the Sosua Bay Grand Casino. He is a fellow entrepreneur and a large residential and commercial property owner in the region.
Casciati will oversee the casino operations whilst Swank will be responsible for management of the nightclub on the property, the convention centre and the spa.