BEIJING, Oct. 29 /Xinhua-PRNewswire/ -- PacificNet, Inc. (Nasdaq: PACT), a leading provider of gaming and mobile game technology, e-commerce, and Customer Relationship Management (CRM) in China, announced today that its Take1 Technologies ("Take1") subsidiary has received an order for 5,000 electronic slot machines from a leading gaming operator in Europe. This new sale is the largest order received by Take1 to date. Terms of the deal were not disclosed for competitive reasons.
PacificNet's Take1 subsidiary designs and manufacturers electronic multimedia entertainment kiosks, coin-op kiosks and machines, Electronic Gaming Machines (EGM), bingo and slot machines, AWP (Amusement With Prizes) games, server-based downloadable game systems, and Video Lottery Terminals (VLT) such as Keno and Bingo machines, including hardware, software, client-server systems and cabinets. PacificNet's Take1 subsidiary is based in Hong Kong with offices and a hardware manufacturing facility located in Shenzhen, China. Software for the Take1 bingo machines is co-developed by PacificNet's software outsourcing unit, Pacific Solutions Technology, a CMM Level 3 certified software development center with over 200 software programmers located in Shenzhen, China. Recent regulatory changes in Europe and Asia have opened the door to more widespread electronic slot operators and PacificNet's Take1 subsidiary has had success in entering the European and Asian market as a full-service provider of electronic slot machines.
"We are proud to announce the largest order of gaming machines received by Take1 to date," said Victor Tong, President of PacificNet. "Our machines are receiving a very warm reception in Europe as marked by this and previous orders. With our re-audit now behind us our focus is now, more than ever, to advance our gaming business and increase shareholder value. With Italy's new Comma 6A gaming legislation, we anticipate a big demand for slot machine replacement in Europe and PacificNet Take1 is well positioned to take advantage of this unique opportunity."
About PacificNet
PacificNet, Inc. (http://www.PacificNet.com) is a leading provider of gaming and mobile game technology, e-commerce, and Customer Relationship Management (CRM) in China. PacificNet's gaming products are specially designed for Chinese and Asian gamers with focus on integrating localized Chinese and Asian themes and content, advanced graphics, digital sound effects and popular domestic music, with secondary bonus games and jackpots. PacificNet gaming products include: Multi-player Electronic Table Games -- Baccarat, Sicbo, Fish-Prawn-Crab, and Roulette machines, Server-Based Games (SBG) with multiple client betting stations, slot and bingo machines, Video Lottery Terminals (VLTs), Amusement With Prizes (AWP) machines, gaming cabinet and client/server system designs, online i-gaming software design, and multimedia entertainment kiosks. PacificNet's gaming clients include the leading hotels, casinos, and gaming operators in Macau, Asia, and Europe, while e-commerce and CRM clients include the leading telecom companies, banks, insurance, travel, marketing and business services companies and telecom consumers in Greater China such as 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, China and Hong Kong government. PacificNet employs about 1,200 staff in its various subsidiaries throughout China with offices in Hong Kong, Beijing, Shanghai, Shenzhen, Guangzhou, Macau and Zhuhai China, USA and the Philippines.
PacificNet's Major Operation Subsidiaries:
-- PacificNet Games Limited (http://www.PactGames.com), 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.
-- Take1 Technologies (http://www.take1technologies.com), is in the
business of designing and manufacturing electronic multimedia
entertainment kiosks, coin-op kiosks and machines, Electronic Gaming
Machines (EGM), bingo and slot machines, AWP (Amusements With Prizes)
games, server-based downloadable games systems, and Video Lottery
Terminals (VLT) such as Keno and Bingo machines, including hardware,
software, and cabinets.
-- Pacific Solutions Technology, is a CMM Level 3 certified software
development center with over 200 software programmers located in
Shenzhen, China, and specializes in the development of client-server
systems, internet e-commerce software, online and casino gaming
systems and slot machines, as well as banking and telecom
applications using Microsoft Visual C++, Java, and other rapid
application development tools.
-- PacificNet Epro (http://www.EproTel.com.hk): CRM Call Center and
Customer Services Outsourcing
-- PacificNet Clickcom (http://www.clickcom.com.cn), MOABC.com: VAS, SP,
SMS, WAP
-- Guangzhou Wanrong (http://www.my2388.com): VAS, SP, SMS, MMS, IVR,
WAP, Java Games
-- PacificNet Communications Limited, iMobile,
(http://www.imobile.com.cn, http://www.18900.com,
http://wap.17wap.com)
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.
