Company to Market its High-Performance Gaming Products to Macau and Asian Gaming Customers and Hotel-Casino Operators
MACAU, China, Feb. 12 /Xinhua-PRNewswire/ -- PacificNet, Inc.
(Nasdaq: PACT), a leading provider of Customer Relationship Management (CRM),
mobile internet, e-commerce and gaming technology in China, announced today
that its subsidiary, PacificNet Games Limited (PacGames), will be presenting
its latest Multiplayer Electronic Gaming Machines (EGM), Slot Machines and
other gaming technology products at the 6th International Gaming &
Entertainment Expo (Gaming 2007) in Macau, China, March 14-16
( http://www.gaming-exhibition.com ), at the Macau Tower Convention & Entertainment Centre.
(Logo: http://www.prnasia.com/sa/200611281258.jpg )
PacificNet Inc. currently owns 51% of PacGames and has a preemptive right
to maintain the 51% ownership in case of any dilution due to exercise of
options or warrants by any new investors.
"This is the first time for PacificNet showcase our gaming products at a
leading international gaming expo in Macau," said Victor Tong, President of
PacificNet. "After achieving early success in the Macau gaming market we
believe that we are ready to expand into other parts of Asia as we see strong
demand and opportunities for growth in other Asian gaming markets. We are
satisfied with our success in Macau as we have quickly become one of the
leading local suppliers of gaming machines to some of the most famous casinos
in Macau, including Hotel Casino Lisboa, Holiday Inn Casino Macau, Jai Alai
Casino, etc. The selection of PacGame's electronic gaming machines by leading
hotel casinos in Macau marks a huge win for PacGames and further enhances
PacificNet's strong position in Macau's gaming market. With the recent
funding, we plan to accelerate our product development and marketing efforts
for our Asian gaming products. We will continue the pursuit of becoming a
leading technology and service provider to the casino operators and gaming
industry in Asia."
"As Macau's gaming market undergoes growing competition, casino operators
in Macau have to quickly adapt to the latest demands and trends by installing
the most popular and profitable gaming machines catering to the Asian gamers,"
said Tony Tong, Chairman of PacificNet. "PacGames multi-play electronic gaming
machines have quickly proven to be one of the best performing gaming machines
designed for Asian players. 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. We believe that the Asian gaming market has huge
growth potential and that we are well positioned to win more hotel casino
clients and capture a growing market share as a leading gaming technology
provider in the region."
According to recent statistics provided by the Macau government, Macau is
the fastest-growing gaming market in the world and has just surpassed Las
Vegas as the largest gaming market in the world at the end of 2006 as Macau's
gaming revenue reached US$7.16 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. 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 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, Hong Kong Government, and leading hotel-
casinos in Macau and Asia. PacificNet employs over 1,400 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. 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.
Statements that are not historical facts, including statements about our
beliefs and expectations, are forward-looking statements. Forward-looking
statements involve inherent risks and uncertainties. Potential risks and
uncertainties include, but are not limited to, PacificNet's possible future
losses, uncertain regulatory landscape in China, and fluctuations in quarterly
operating results. Further information regarding these and other risks is
included in PacificNet's Form 10K and other filings with the SEC.
Contact:
PacificNet USA office:
Jacob Lakhany, Tel: +1-605-229-6678
PacificNet Beijing office:
Ada Yu, Tel: +86 (10) 59225000
23rd Floor, Building A, TimeCourt, No.6 Shuguang Xili, Chaoyang District,
Beijing, China 100028
PacificNet Games Shenzhen Office:
Room 4203, JinZhongHuan Business Center,
Futian District, Shenzhen, China 518040
