-- Company declares this week's Macau Gaming Expo a big success.
-- Company to present its latest Multiplayer Electronic Gaming Machines
(EGM), Slot Machines and other gaming technology products at the GEM
Gaming & Entertainment Plus Leisure Expo 2007 in Manila, Philippines,
March 21-23, at the World Trade Center, Booth P52.
MACAU, China, March 17 /Xinhua-PRNewswire/ -- PacificNet, Inc.
(Nasdaq GM: 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), launched a new
line of gaming products called the Multiplayer Electronic Table Game Series at
the 6th International Gaming & Entertainment Expo (Gaming 2007) in Macau,
China, March 14-16 (www.gaming-exhibition.com). The first products in the
Multiplayer Electronic Table Game Series, Multiplayer Electronic SicBo
Machines, were given positive reviews upon their initial presentation to the
leading casino operators in Asia.
(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 PacificNet has had a chance to showcase our gaming
products at a leading international gaming expo in Macau," said Tony Tong, CEO
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 and 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 catered to the Asian gamers,"
said Victor Tong, President of PacificNet. "PacGame's multi-player Electronic
Gaming Machines have quickly proven to be one of the best performing gaming
machines designed for the 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 the Asian gaming market has
huge growth potential and that we are well positioned to win more hotel-casino
clients in order to capture a growing market share as a leading gaming
technology provider in the region."
SicBo originated in China over one thousand years ago and is a game of
chance played with three dice that are shaken in a basket or a plastic cup.
Traditionally, in Asia, the dice were shaken on a small plate covered with a
bowl, which was then lifted to reveal the roll. In modern casinos the dice are
shaken mechanically, and the outcome is keyed into a computer which
automatically lights up the winning zones on the table. SicBo is popular in
Asia and widely played (as dai siu or big small) in casinos in Macau. It is
played in the Philippines as hi-lo. It was introduced into the USA by Chinese
immigrants in the early 20th century, and can now be found in most American
casinos. Grand hazard and chuck-a-luck are variants, and of English origin.
According to recent statistics provided by the Macau government, Macau is
the fastest-growing gaming market in the world and has recently surpassed Las
Vegas as the largest gaming market in the world at the end of 2006 as Macau's
gaming revenue reached US$7 billion. Macau's casinos offer the largest variety
of casino games anywhere in the world, combining both established western
favorites with popular eastern games. 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.
PacificNet Games Limited (PacGames), will be presenting and exhibiting its
latest Multiplayer Electronic Gaming Machines (EGM), Slot Machines and other
gaming technology products at the GEM Gaming & Entertainment Plus Leisure Expo
2007 in Manila, Philippines, March 21-23 (www.AsianGemPhil.com), at the World
Trade Center, Booth P52. The Expo is sponsored by the Asian Gem & Tourism
Foundation, Inc. and presented by the PAGCOR Casino Filipino. In addition to
its exhibition booth, PacificNet Games is scheduled to present its Macau
success story of its high-return multi-player gaming machines at the "Gaming &
Investment Conference" at the Hyatt Hotel & Casino Manila on March 21.
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-player electronic gaming machines such as Baccarat,
Fish-Prawn-Crab, Sib-Bo Cussec, Roulette, and Video Lottery Terminals (VLT)
such as Keno and Bingo machines, 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.
