* Company to Expand and Market its High-Margin Game and Gaming Technology Business to Southeast Asian Gaming Markets
MACAU, China, Feb. 2 /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 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, March 21-23, 2007. 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.
Leading gaming companies from all over the world will gather at the expo including IGT, Shuffle Master, WMS, Japan Cash Machine (JCM), Waz Lian, Unidesa, Elixir, Aristocrat, RGB, Interblock, Bally, Atronics, Konami, Subsino, Spielo, Kirschner Games International, and Bingo Times among others.
"This is the first time PacificNet will be able to showcase its gaming products at a leading international gaming expo," said Victor Tong, President of PacificNet. "After achieving early success in the Macau gaming market we believe 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 our new focus on the rapidly growing gaming market in greater China, Macau, and Asia, we will continue the pursuit of becoming a leading technology and service provider to the casino operators and gaming industry in Asia. We believe we have the right gaming products, research and development center with CMM Level 3 certification, local service staff, the right channels and partnerships, and the experience that is necessary to succeed in this market."
"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 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 Shenzhen Office: Room 4203, JinZhongHuan Business Center,
Futian District, Shenzhen, China. Postal Code: 518040
