PacificNet Games, Euro Games sign deal

BEIJING, China – (PRESS RELEASE) -- 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) 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.

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.

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.

< Gaming News