PacificNet CEO to Speak at the 2008 AiG Macau - the Leading Interactive Gaming Conference in Asia - on China's Lottery Market Op
February 01 2008 - 10:00AM
PR Newswire (US)
MACAU, China, Feb. 1 /Xinhua-PRNewswire/ -- PacificNet, Inc.
(NASDAQ: PACT), a leading provider of gaming technology, Customer
Relationship Management (CRM) and e-commerce in China, announced
today that its CEO, Mr. Tony Tong, will present at the 6th Annual
Asian i-Gaming Conference (AiG) and Expo in Macau, China, February
26-28, 2008, the leading interactive gaming event in Asia. Mr. Tong
will give a presentation titled "China's Legal Gaming Market
Overview and Opportunities - Welfare and Sports Lottery" at 5PM on
February 27, 2008. The AiG 2008 ( http://www.aigcongress.com/ ) is
the only industry conference in Asia that focuses solely on
interactive gaming in Asia. Asia has become a hotbed for the gaming
industry and revenue from casinos and other regulated gaming
activities in Asia is expected to grow 14% a year from 2005 to
2010, the fastest pace in the world (PWC). The AiG 2008 is set to
be the biggest and best yet, with over 200 attendees and around 50
speakers. Speakers include Mr. Francis Lui, Deputy Chairman of
Galaxy Entertainment Group, who will deliver the keynote address,
Douglas Morin of Bear Stearns, Professor Desmond Lam of University
of Macau, Sam Woelm of CY Foundation, Dennis Valdes of PhilWeb
Corporation - Philippines, and representatives from the Macau
Gaming Control Board and Hong Kong Jockey Club. The event sees an
extended conference with streams and two pre-conference summits on
marketing and investment, as well as a larger exhibition to help
facilitate the networking opportunities the industry needs. In
2008, PacificNet and its gaming subsidiaries will focus on emerging
gaming markets worldwide including Asia, South America and Europe.
Specific markets will include the UK, Russia, Ukraine, Italy,
Germany, Argentina, Colombia, India, Australia, Cambodia, the
Philippines and most notably, Macau, China. PacificNet has chosen
to focus on emerging markets due to their projected growth and low
barrier to entry. PacificNet Games ( http://www.pactgames.com/ ), a
subsidiary PacificNet, is a leading supplier of electronic gaming
machines in Macau. PactGame's multi- player gaming machines are
widely accepted in some of the most popular casinos in Macau,
including SJM, Casino Lisboa, Galaxy Casino, Holiday Inn Macau,
Greek Mythology, and Jai-Alai Casino, as well as in the
Philippines. According to Macau government statistics, casinos in
Macau raked in more than US$10.3 billion (euro7.11 billion) in
gaming revenue in 2007, an increase of 46 percent over the previous
year as Las Vegas operators rushed to open luxury resorts targeting
China's newly wealthy. Macau, the only place in China where casino
gambling is legal, overtook the Las Vegas Strip as the world's top
gambling center in 2006. During 2006, the 24 casinos in Macau rang
up US$6.95 billion in gaming revenue, while the Strip made US$6.69
billion, regulators in the cities said. Macau, a former Portuguese
territory and now a special administration region of China, added
four new casinos in 2006 and is now rivaling the entire U.S. state
of Nevada in gaming revenue, according to figures posted on the Web
site of Macau's Gaming Inspection and Coordination Bureau. Nevada
reported gaming revenues of US$12.7 billion (euro8.77 billion) for
the year to Nov. 30, 2007, according to the state's Gaming Control
Board. Openings in Macau last year included the massive US$2.4
billion (euro1.66 billion) Venetian Macao resort, operated by
billionaire Sheldon Adelson's Las Vegas Sands Corp., and the MGM
Grand, a joint venture between MGM Mirage and Pansy Ho, a daughter
of Dr. Stanley Ho who is the major owner of SJM, the leading casino
group in Macau. Rivalling About PacificNet PacificNet, Inc. (
http://www.pacificnet.com/ ) is a leading provider of gaming and
mobile game technology worldwide with a focus on emerging markets
in Asia, Latin America and Europe. PacificNet's gaming products are
localized to their specific markets creating an enhanced user
experience for players and larger profits for operators.
PacificNet's gaming products include multi- player electronic table
games such as baccarat, sicbo and fish-prawn-crab, 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 as well as the Octavian line of
casino management software, hardware and games. PacificNet's gaming
clients include the leading hotels, casinos, and gaming operators
in Macau, Europe and elsewhere around the world. PacificNet also
maintains legacy subsidiaries in the call center and ecommerce
business in China. PacificNet employs about 1,800 staff in its
various subsidiaries with offices in the US, Hong Kong, China, UK,
Russia, Ukraine, Italy, Germany, Argentina, Colombia, India and
Australia. Safe Harbor Statement This 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. For more
information, please contact: PacificNet USA office: Jacob Lakhany
Tel: +1-605-229-6678 PacificNet Beijing office: Becky Zhao Tel:
+86-10-5922-5000 23rd Floor, Building A, TimeCourt No.6 Shuguang
Xili Chaoyang District Beijing, China 100028 PacificNet Shenzhen
Office: Alin Chen Tel: +86-755-3322-2088 Room 4203, JinZhongHuan
Business Center Futian District Shenzhen, China 518040 PacificNet
Macau office: Tel: +853-2870-4154 Unit A-C, 12th Floor Edificio
Commercial I Tak No. 126, Rua Da Pequim Macau, China DATASOURCE:
PacificNet, Inc. CONTACT: Jacob Lakhany at the PacificNet USA
office at +1-605-229-6678, or Becky Zhao at the PacificNet Beijing
office at +86-10-5922-5000; or Alin Chen at the PacificNet Shenzhen
Office at +86-755-3322-2088; or the PacificNet Macau office at +853
28704154 Web site: http://www.pacificnet.com/
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