- PacGames Makes Significant Progress in Being a Leading Supplier of Gaming
Machines to Macau
- Phase One Implementation of 120 Multi-player Electronic Gaming Machines
for One of the Top and Most Famous Hotel-Casinos in Macau
BEIJING, Dec. 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 PacificNet Games Limited (PacGames) subsidiary has been selected by
Casino Lisboa, one of Macau's leading and most historic casinos, to provide
multi-player Electronic Gaming Machines (EGM). Phase one implementation
includes 120 multi-player electronic gaming machines. Terms of the
agreement were not disclosed for competitive reasons.
Casino Lisboa is one of the most famous casinos in Macau, People's
Republic of China. The original Casino Lisboa main complex and 12 story
round hotel tower were built in the late 1960s by Dr. Stanley Ho, Teddy
Yip, Yip Hon and Dr. Henry Fok. Since then, Macau has grown considerably,
often being called the "Monte Carlo of the Orient". Casino Lisboa has
become an icon as one of the most famous landmark hotels of Macau. A 270
room extension was added in 1991 for a total of 927 rooms. Currently,
another extension, called the Grand Lisboa, is under construction and is
located next to the original Casino Lisboa and the Wynn Casino. Casino
Lisboa is now operating under Macau's gaming concessions granted under
Sociedade de Jogos de Macau (SJM), which is a leading gaming concessionaire
in Macau controlled by Dr. Stanley Ho's Sociedade de Turismo e Diversoes de
Macau (STDM).
"We are delighted to receive another significant order from one of the
most famous casinos in Macau. The selection of PacificNet Game's electronic
gaming machines by Casino Lisboa marks another huge win for PacGames and
further enhances PacificNet's strong position in Macau's gaming market,"
said Tony Tong, Chairman and CEO of PacificNet. "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 adapt fast to the latest demands and trends by
installing the most popular and profitable gaming machines catering to the
Asian gamers. PacGames multi-play electronic gaming machines have quickly
proven to be one of the best performing gaming machines designed for the
Asian players," said Victor Tong, President of PacificNet. "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 one of the fastest-growing gaming markets in the world and is predicted
to surpass Las Vegas in total revenues by 2007. In 2005, Macau's gaming
revenues reached US$5.8 billion, second only to Las Vegas gaming revenues
of US$6 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, which celebrated its grand opening on September 6. 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 Casino Lisboa
Casino Lisboa (http://www.hotelisboa.com) is one of the largest casinos
in Macau located in the Hotel Lisboa. Casino Lisboa is open 24 hours daily
and features 146 table games including Baccarat, Blackjack, Boule, Fan Tan,
Roulette, and over 200 slot machines. Casino Lisboa features one of the
largest banquet halls of 17,250-square feet of meeting and banquet space
including 6 multi-purpose meeting/banquet rooms, six restaurants, and a
hotel with 1,000 rooms and suites. Lisboa can accommodate as many as 590
guests for meetings, 1,000 for set menus, and 1,240 for cocktails. A
bowling center, disco, show hall with nightly entertainment, beauty salon,
health club, nightclub, sauna, cigar, cake, jewelry, and valet shops,
travel agents, and a swimming pool are all located on the premises, making
Casino Lisboa one of the most complete resort locations in Macau.
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. 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.
Contact:
PacificNet USA office: Jacob Lakhany, Tel: +1-605-229-6678
PacificNet Beijing office: Ada Yu, Tel: +86 (10) 59225000
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