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Holiday Inn Macau Casino Selects PacificNet Games Multi-Player Electronic Gaming Machines

2006-12-06 11:47 2071

PacificNet Games to Deliver Electronic Gaming Machines (EGM) to Holiday Inn

Macau Casino

BEIJING, Dec. 6 /Xinhua-PRNewswire/ -- PacificNet Inc. (Nasdaq: PACT), a

leading provider of Customer Relationship Management (CRM), mobile internet,

e-commerce and gaming technology in China, reported today that its PacificNet

Games Limited (PacGames) subsidiary has been selected by Holiday Inn Macau

Casino to provide multi-player electronic gaming machines. Terms of the

agreement were not disclosed due to competitive reasons.

Located at 82-86 Rua de Pequim, The Holiday Inn is right in the heart of

Macau's casino district, with the Casino Lisboa to the west and the Vegas-

style Sands casino and the Fisherman's Wharf entertainment area to the east.

To the north is old Macau, where Largo do Senado (Senado Sq), the Ruins of

StPaul's, Macau Museum and the canyon-like lanes remind you that Macau is

different to anywhere else in Asia, and on earth.

"The selection of PacificNet Game's electronic gaming machines by the

leading hotel-casinos in Macau marks the beginning of PacificNet's transition

away from the low-margin telecom business into the new high-margin gaming

business," said Tony Tong, Chairman and CEO of PacificNet. "In recent board

and management meetings, we evaluated the early success of our gaming

technology operation and were satisfied with the rapid progress and financial

performance of the gaming operation. The management team and the board of

directors have approved our new strategy to focus on the rapidly growing

gaming market in greater China, Macau, and Asia. We have excellent existing

relationships in Macau and we will continue to very actively pursue this

area. After some early success, we believe that we are well positioned to

expand our sales of gaming products to the hotel-casino operators in Macau

and rest of Asia."

In September, PacificNet opened an office in Macau to focus on the

rapidly expanding gaming and entertainment industries in that region. The

Macau office is located in the First International Commercial Centre, Macau

Special Administrative Region, China, is adjacent to the new Galaxy StarWorld

Hotel and is walking distance from both the Wynn and Sands Casinos.

"Macau has become the fastest growing part of China and we are very

excited to be moving forward in our pursuit of the Macau gaming technology

business," said Victor Tong, President of PacificNet. "The opening of our

Macau office will facilitate our rapid launch into this market. We feel that

the Asian gaming technology market has near-term growth potential and are

very happy to enter this exciting high growth market. We recognize Macau's

remarkable growth potential and have opened an office in this location as a

first step in entering this market. The bulk of Macau's current gaming

revenue comes from VIP rooms and high-roller table games. As the market

matures, it is predicted that lower stakes, electronic versions of these

popular table games played by the masses will exceed the revenue of the table

games, as in Las Vegas. This trend is already visible. PacificNet plans to

aggressively pursue this mass market of electronic gaming machines with the

goal of being a leading provider of electronic adaptations of popular Asian

casino table games."

According to recent statistics provided by the Macau government, Macau is

one of the fastest-growing gaming markets in the world and is predicted to

surpass Las Vegas in total revenues by 2007. In 2005, Macau's gaming revenues

reached US$5.8 billion, second only to Las Vegas gaming revenues of US$6

billion. Macao's casinos offer the largest variety of casino games anywhere

in the world, combining both established western favorites with popular

eastern games such as blackjack, baccarat, pai kao, roulette, boulette,

boule, "Big and small" fantan and pacapio. A vast assortment of slot machines

and a growing number of electronic table games are also available, often

computer-linked for progressive jackpot payouts. The number of hotel-casinos

in operation and in development in Macau continues to grow, including well-

known Chinese names such as Galaxy and Melco, and famous Las Vegas names such

as the Sands, the Venetian, and the newly opened Wynn Resort, which

celebrated its grand opening on September 6. With the disposable income of

the average Chinese on the rise, Macau's gaming and entertainment market is

expected to grow for years to come. Macau is the only area in China where

gambling is legal.

About Holiday Inn Macau

Holiday Inn Macau ( http://www.macau.holiday-inn.com ) is strategically

situated in the heart of the new business district. Only three minutes to and

from the Macau-Hong Kong Ferry Terminal and the city centre and located eight

kilometers from the airport, the hotel is accessible by public

transportation. The hotel offers 324 comfortably furnished guest rooms on 16

floors including 23 rooms and suites on the Executive Club floor, which has

been specially designed to suit business travelers.

About PacificNet

PacificNet, Inc. ( http://www.PacificNet.com ) is a leading provider of

Customer Relationship Management (CRM), mobile internet, e-commerce and

gaming technology in China. PacificNet's clients include the leading telecom

companies, banks, insurance, travel, marketing, and business services

companies, and telecom consumers, in Greater China. PacificNet's corporate

clients include China Telecom, China Mobile, Unicom, PCCW, Hutchison Telecom,

Bell24, Motorola, Nokia, SONY, TCL, Huawei, American Express, Citibank, HSBC,

Bank of China, Bank of East Asia, DBS, TNT, and Hong Kong Government.

PacificNet employs over 1400 staff in its various subsidiaries throughout

China with offices in Hong Kong, Beijing, Shenzhen, Guangzhou, Macau, and

branch offices in 28 provinces in China and is headquartered in Beijing and

Hong Kong.

PacificNet Games Limited (PacGames), is a leading provider of Asian multi-

player electronic gaming machines, gaming technology solutions, gaming

related maintenance, IT and distribution services for the leading hotel,

casino and slot hall operators based in Macau, China and other Asian gaming

markets. PacGames is a leading developer of electronic versions of popular

table games which are less expensive to run resulting in higher casino

profits with great appeal to the mass market players. The growing market in

Macau is for Asian table games such as Baccarat, Roulette, Fan Tan, Fish-

Prawn-Crab and Sic-Bo Cussec as these games have wider acceptance in the

Asian market than Western games such as poker or slots. We believe that the

development, manufacturing, maintenance, and service of electronic Asian

table games are underserved areas which are predicted to grow considerably as

Macau's gaming market matures. PacGames products include multi-play

electronic gaming machines such as Baccarat, Fish-Prawn-Crab, Sib-Bo Cussec,

Roulette, and Video Lottery Terminals (VLT) such as Keno and Bingo, as well

as other traditional slot machines.

Safe Harbor Statement

This Company's announcement contains forward-looking statements. We may

also make written or oral forward-looking statements in our periodic reports

to the SEC on Forms 10-K, 10-Q, 8-K, etc., in our annual report to

shareholders, in our proxy statements, in press releases and other written

materials and in oral statements made by our officers, directors or employees

to third parties. Statements that are not historical facts, including

statements about our beliefs and expectations, are forward-looking

statements. These statements are based on current plans, estimates and

projections, and therefore you should not place undue reliance on them.

Forward-looking statements involve inherent risks and uncertainties. We

caution you that a number of important factors could cause actual results to

differ materially from those contained in any forward-looking statement.

Potential risks and uncertainties include, but are not limited to,

PacificNet's historical and possible future losses, limited operating

history, uncertain regulatory landscape in China, and fluctuations in

quarterly and annual operating results. Further information regarding these

and other risks is included in PacificNet's Form 10K and other filings with

the SEC.

Source: PacificNet Inc.
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