Partnership Enables PacificNet Games to Rapidly Expand Gaming Product Lines via Exclusive Distribution Agreement with Leading Gaming Machines Provider in Europe
BEIJING, Jan. 4 /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 (PacGames) subsidiary has signed an exclusive distribution agreement
with Euro Games Technology (EGT, www.egt-bg.com) for all EGT's gaming products
in Macau and elsewhere in Asia. Euro Games Technology, headquartered in Sofia,
Bulgaria, is a leading provider of Video Gaming Machines, Slot Machines,
Progressive Meters/Systems, and Gambling Software in Europe, and has offices
throughout Eastern Europe including Kiev, Ukraine, Budapest, Hungary, and
Bucharest, Romania. EGT also has an authorized dealer in Latvia and a sales
representative in Latin America. In addition, PacificNet Games and EGT will
jointly exhibit their gaming products at the International Casino Exhibition
(ICE), Booth 3370, which will be held at Earls Court Exhibition Centre,
London, UK on Jan. 23-25, 2007.
(Logo: http://www.prnasia.com/sa/200611281258.jpg )
The three-year agreement, which carries an automatic renewal clause, gives
PacGames an exclusive right to promote, sell and distribute EGT's gaming
products in Asia, including Macau, Hong Kong, the Philippines, Cambodia,
Indonesia, Laos, Malaysia, Myanmar, Nepal, Singapore, Thailand, Vietnam,
Mongolia, China, and Korea. PacGames was also granted the non-exclusive right
to market and distribute EGT's gaming products outside of the exclusive
territory.
EGT's gaming products include the Classic Blend Collection, classic casino
games such as Action Money, Ocean Rush, Oil Company, Emperor's Palace, Crazy
Bugs, Inca Gold and Gold of Roma. EGT's games are meant to thrill players
through exceptional graphic design, brilliant sound, and user-friendly
interaction combined with exciting payouts and bonus features. These
multi-line, multi-denomination video slots set the highest standard for
fairness, reliability and user-friendliness.
Recently, EGT announced that its Classic Blend machines now support
communication with other major casino management systems using the standard
Slot Accounting System (SAS) protocol as well as successful implementation of
two basic modules of the SAS 6.01 Protocol, Accounting & Security and the
Progressive Module. In addition, EGT's Classic Blend machines also connect to
Progressive Gaming's (PGIC) - CasinoLink casino management system (a trademark
of Progressive Gaming Intl Corp). EGT is a member of the Gaming Standards
Association (www.gamingstandards.com).
PacificNet Games, a subsidiary of PacificNet, Inc. (Nasdaq: PACT), is a
leading gaming equipment and technology provider in Macau and Asia.
Vladimir Dokov, Managing Director of EGT, said "We are delighted to form
this alliance with PacificNet Games as we highly respect PacificNet's broad
technology background and strong distribution channels in Asia's gaming market.
EGT's mission is to offer innovative and quality gaming products to casinos
globally. With our mature gaming product line and strong presence and
installation base in Europe and South America, I think our products will be
well suited for the Asian market as well. This partnership with PacificNet
Games will greatly enhance EGT's efforts to expand distribution of its
products in Asia, the fastest growing gaming market in the world."
Tony Tong, Chairman and Chief Executive Officer of PacificNet, said "After
extensive testing of EGT's wide range of gaming products and slot machines, we
are excited about the features, quality and income generation potential of
EGT's gaming products in Asia. We think EGT's gaming products are
complementary to PacificNet Games' multi-player electronic gaming machine
product lines and we believe that EGT's gaming products will further enhance
PacificNet's position to become a leading gaming technology provider in Asia."
According to recent statistics provided by the Macau government, Macau is
one of the fastest-growing gaming markets in the world and just surpassed Las
Vegas as the largest gaming market in the world at the end of Q3 2006. 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. 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 Euro Games Technology Ltd. (EGT) (www.egt-bg.com)
Euro Games Technology, headquartered in Sofia, Bulgaria, is a leading
provider of Video Gaming Machines, Slot Machines, Progressive Meters/Systems,
and Gambling Software in Europe. With 160 employees, EGT has offices
throughout Eastern Europe including Kiev, Ukraine, Budapest, Hungary, and
Bucharest, Romania and has an authorized dealer in Latvia and a sales
representative in Latin America. In the last five years, EGT has positioned
itself as a leading manufacturer of gaming machines, jackpot systems, cabinets
and other casino equipment in Bulgaria and abroad. EGT products set the
highest standards in player return, reliability and user friendliness. The
company's team of professionals have extensive experience in the business and
are able to respond quickly to the rapidly changing trends in the gaming
industry. The substantial know-how and experience they have accumulated over
the years affords the company competitive growth opportunities. EGT strives to
generate a constant flow of revolutionary ideas to produce technologically
advanced and carefully designed gaming products. Every step, from conception
and design to installation, service and support, is dedicated to helping EGT's
products becoming synonymous with top quality worldwide. EGT is a member of
the Gaming Standards Association (www.gamingstandards.com)
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.
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 historical and
possible future losses, limited operating history, uncertain regulatory
landscape in China, fluctuations in quarterly operating results. Further
information regarding these and other risks is included in PacificNet's Form
10K and other filings with the SEC.
For more information, please contact:
PacificNet USA office:
Jacob Lakhany
Tel: +1-605-229-6678
PacificNet Beijing Office:
Ada Yu
Tel: +86-10-5922-5000
23/F, Tower A, TimeCourt,
No.6 Shuguang Xili,
Chaoyang District,
Beijing,
China 100028
