-- Company to Market its High-Performance Gaming Products to Macau and Asian
Gaming Customers and Hotel-Casino Operators
MACAU, China, Feb. 12 /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 its latest Multiplayer Electronic Gaming Machines (EGM), Slot Machines and other gaming technology products at the 6th International Gaming & Entertainment Expo (Gaming 2007) in Macau, China, March 14-16 (www.gaming-exhibition.com), at the Macau Tower Convention & Entertainment Centre.
PacificNet Inc. currently owns 51% of PacGames and has a preemptive right to maintain the 51% ownership in case of any dilution due to exercise of options or warrants by any new investors.
"This is the first time for PacificNet showcase our gaming products at a leading international gaming expo in Macau," said Victor Tong, President of PacificNet. "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. 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 the recent funding, we plan to accelerate our product development and marketing efforts for our Asian gaming products. We will continue the pursuit of becoming a leading technology and service provider to the casino operators and gaming industry in Asia."
"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 that 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.
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