omniture

PacificNet's Take1 Announces Profit Sharing Deal with Leading Bingo Operator in Asia

2007-11-30 02:13 726

BEIJING, Nov. 29 /Xinhua-PRNewswire/ -- PacificNet, Inc. (Nasdaq: PACT), a leading provider of gaming technology, Customer Relationship Management (CRM) and e-commerce in China, announced today that its Take1 Technologies ("Take1") subsidiary has entered into an agreement to place its Electronic Bingo Machines with a leading slot operator in Asia. Terms of the deal include a profit sharing provision. Further terms of the deal were not disclosed but will be discussed in the Company's upcoming conference call.

Take1 Technologies (http://www.take1technologies.com), a subsidiary of Pacificnet, 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.

Electronic Bingo Machines are played much like traditional bingo, but without the hassle of paper cards and mess of ink blotters. The Take1 Server Based Bingo Games (SBG) are based on a client-server computer network architecture and players can buy electronic bingo tickets using one of the many electronic bingo terminals (VLTs or client betting stations) situated in a variety of electronic bingo sales outlets. This automation allows for players to play more games faster and to play from any location that's linked to the central electronic bingo server, thus increasing the bingo operator's revenues and profit margins while minimizing labor and maintenance costs.

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 ecommerce 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 1,500 staff in its various subsidiaries throughout China with offices in Hong Kong, Beijing, Shanghai, Shenzhen, Guangzhou, Macau and Zhuhai China, USA, and the Philippines.

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 10KSB and other filings with the SEC.

Source: PacificNet, Inc.
Related Stocks:
NASDAQ:PACT
collection