Thanks mph...added PACT at 5.76 just 2k...nice news: PacificNet Games to Deliver Multi-Player Electronic Gaming Machines to Jai Alai Casino - A Leading Casino in Macau
Thursday December 28, 12:34 pm ET
PacGames Makes Significant Progress in Being One of the Leading Suppliers of Gaming Machines to Macau, with Phase One Implementation of 40 Multi-player Electronic Gaming Machines For Jai Alai Casino, Macau
BEIJING, Dec. 28 /Xinhua-PRNewswire/ -- PacificNet Inc. (Nasdaq: PACT - News), a leading provider of Customer Relationship Management (CRM), mobile internet, e-commerce and gaming technology in China, reported today that its PacificNet Games Limited (PacGames) subsidiary has been selected by Jai Alai Casino, a leading casino in Macau, to provide multi-player electronic gaming machines (EGM). Phase one implementation includes 40 multi-player electronic gaming machines. Terms of the agreement were not disclosed for competitive reasons.
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Located at Jai Alai Building, Avenida de Amizade, Macau, Jai Alai Casino is one of the most well known casinos in Macau, People's Republic of China. Jai Alai Casino Macau has a 67,075 sq ft gaming facility and features about 250 slot machines, 61 table games and 4 VIP rooms, and is open 24 hours a day. The Jai Alai Casino, conveniently located within walking distance from the Jetfoil ferry terminal, attracts a high percentage of Hong Kong visitors surfing in for the fast-action games. Compared to other casinos in Macau, the Jai Alai maintains a great atmosphere where Baccarat, Blackjack and Roulette are the most popular games. However, traditional Chinese games such as Fish- Prawn-Crab, Sic-Bo Cussec and Fan Tan are also available. Jai Alai Casino operates 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).
Two weeks ago, PacificNet also announced that its PacificNet Games Limited (PacGames) subsidiary was selected by Casino Lisboa, one of Macau's leading and most historic casinos, to provide 120 multi-player Electronic Gaming Machines (EGM) for Phase One implementation at Casino Lisboa. Previously, PacGames also announced that it was selected by Holiday Inn Macau Casino to provide multi-player electronic gaming machines.
"We are delighted to receive another significant order by another famous casino in Macau. The selection of PacificNet Game's electronic gaming machines by Jai Alai Casino 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 to pursue becoming a leading provider of electronic gaming machines, slot machines and bingo machines to the casino operators and gaming industry in Asia. We believe we have the right gaming products, software and hardware expertise, 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 catered to the Asian gamers. PacGames multi-player 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 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 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" Fan Tan 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 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-player electronic gaming machines such as Baccarat, Fish-Prawn-Crab, Sib-Bo Cussec, Roulette, and Video Lottery Terminals (VLT) such as Keno and Bingo machines, 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
23/F, Tower A, TimeCourt, No.6 Shuguang Xili, Chaoyang District, Beijing,
China 100028
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Source: PacificNet Inc.
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