Company Launches New Gaming Machines for the Philippine Market and Received Positive Reviews from Asia's leading gaming operators
MANILA, Philippines, March 24 /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), successfully
presented its latest Multiplayer Electronic Gaming Machines (EGM), Sic-Bo
Machines, Baccarat Machines, Roulette Machines, and Slot Machines at the GEM
Gaming & Entertainment Plus Leisure Expo 2007 in Manila, Philippines, March
21-23 (http://www.AsianGemPhil.com). The machines received rave reviews from
some of the leading casino operators in Asia including praise from Philippine
Amusement and Gaming Corporation (PAGCOR) Casino Filipino Chairman, Efraim
Genuino. PAGCOR is the Philippines' largest gaming operator. In addition to
its exhibition booth, PacificNet Games also shared its Macau success story of
its high-return multi-player gaming machines at the "Gaming & Investment
Conference" on the first day of the conference.
While visiting PacificNet Games' exhibition booth, PAGCOR Chairman Efraim
C. Genuino commented, "We welcome your effort in launching your gaming
machines for the high growth Philippine market. As one of the leading gaming
markets in Asia, we believe the Philippines will present huge opportunities
for the leading gaming technology providers from all over the world."
Tony Tong, Chairman and CEO of PacificNet, said, "We are thankful to
PAGCOR and Chairman Efraim Genuino for giving us this excellent opportunity to
showcase our gaming products to PAGCOR and other operators and key players in
the Philippine casino and gaming market. The Philippine gaming market is even
bigger than Macau in terms of gaming machine installations and presents huge
opportunities for PacificNet Games. This is the first time PacificNet has had
a chance to showcase our latest gaming products at a leading international
gaming expo in the Philippines. We believe the Philippine market will
continue to grow rapidly as one of the top destinations for Chinese tourists
from China, Taiwan, Hong Kong and Macau, since it is only a 2 hour flight from
Manila to Hong Kong."
"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," said Victor Tong,
President of PacificNet. "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. PacGames' multi-player
Electronic Gaming Machines have quickly proven to be one of the best
performing gaming machines designed for Asian players. 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 throughout Asia."
According to recent report by Global Gaming Business, Jeffries Wall
Street, the Philippine gaming market consists of about 5000 gaming machines,
over 620 gaming tables, and over 8500 positions, and represents the second
largest gaming market in Asia, after Macau.
About the Philippine Amusement and Gaming Corporation (PAGCOR)
The Philippine Amusement and Gaming Corporation
(http://www.casinofilipino-online.com) is a 100 percent government-owned and
controlled corporation created in 1977. PAGCOR is consistently the third
largest income-generating arm of the Philippine government. In 2006, PAGCOR
generated revenues of over 726 million USD.
PAGCOR currently operates 14 Casino Filipino branches in major cities
aside from slot machine arcades and Casino Filipino VIP clubs. Casino
Filipino branches offer internationally recognized games like Baccarat,
Blackjack, Roulette, Craps, Big & Small, Pai Gow Poker, Stud Poker, Pontoon,
Super 6 and slot machines.
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 products include multi-player electronic gaming machines (EGM), slot
machines, server-based downloadable games systems, Video Lottery Terminals
(VLT) and bingo machines, including hardware, software, and client-server
systems.
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.
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 Shenzhen Office:
Tel: +86 (10) 33222088
Room 4203, JinZhongHuan Business Center, Futian District,
Shenzhen, China 518040
PacificNet Games Limited Macau Office:
Av. Do Dr. R. Rodrigues No. 600E, Edif, First International Commercial
Center, P906, Macau
Tel: +853-28704154 Fax: +853-28704154