HONG KONG, Aug. 28 /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 Victor Tong, President, and Jacob Lakhany, Director of Investor Relations, will attend the Roth Capital Partners New York Conference September 5-6, 2007 at the Westin Times Square Hotel in Times Square. Mr. Tong will present PacificNet's story and current business to the analysts, investors, etc. in attendance. For more info on the conference, please see http://www.rothconference.com.
“We are grateful to be invited to present at the Roth New York Conference for a third straight year,” said Victor Tong, President of PacificNet. “Our company has a very exciting story to tell now that we've gained a foothold in the gaming technology sector. Most in the investment community know that China, particularly Macau, as well as gaming are high growth areas. We are eager to get the story of our current business in both of these markets out to new analysts, institutional investors and others who can really enhance our shareholder value.”
This year's conference will feature presentations from more than 230 presenting companies to over 1200 buy side investors and hundreds of industry analysts. The conference will also feature a special China track with over 30 presenting Chinese companies.
2007 Business Outlook
1. We see gaming product revenue growth in Q3 increasing.
Due to the dynamic nature of the rapidly evolving gaming market in Macau and Asia, the Company decided against providing detailed revenue and profit projections at this time. Without giving detailed projection numbers, the Company expects Q3 and Q4 revenues and profits to increase at a faster pace due to delivery of gaming machines and collection of account receivables, as well as deployment of new gaming products in Macau and Asian gaming markets.
2. China Lottery Entrance.
One area of strong interest to the Company is China's rapidly growing legal lottery market including China's legal welfare lottery and the sports lottery. PacificNet has been pursuing various cooperation, profit-sharing partnerships and investment opportunities in China's lottery market. According to China lottery market research reports, the Chinese lottery industry experienced 90% growth in 2005 to become the world's seventh-largest market with sales of US$8.8bn, driven largely by the popularity of new games. In an effort to combat the estimated US$75bn illegal gambling market, experts expect the Chinese lottery to launch new products and services (through partnership participation). Better distribution networks and potentially higher payouts are also expected to increase lottery play. According to a recent China Lottery Industry Report by Citigroup Gaming Research, the Chinese lottery market will grow to US$34.5 billion by 2010. This should place it as the world's second-largest market behind the US, which turned over US$54.2 billion in 2005. PacificNet plans to participate in China's lottery industry either as a system provider or sales agent, across different products such as traditional lottery, Video Lottery Terminals (VLTs) and/or instant lottery, through profit sharing partnership arrangements.
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 1,200 staff in its various subsidiaries throughout China with offices in Hong Kong, Beijing, Shanghai, Shenzhen, Guangzhou, Macau and Zhuhai China, USA, and the Philippines.
About Roth Capital Partners
Roth is one of the last remaining independent full-service investment banks dedicated to the small and micro-cap market. The firm is privately owned with current principals being majority owners. The core management team has been consistent for many years. Since the inception of the firm in 1984 Roth has been a leader and innovator in the small and micro cap markets. Roth's exclusive focus has been, is, and will continue to offer a full spectrum of investment banking services, including raising capital, research coverage, trading and market making, merger and acquisition advisory services, and investor conferences.
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.
