• 栏目导航
  • 联系我们

PacificNet Gains Majority Ownership Interest in PacificNet G

发布时间:2018-10-01 文章编辑:918

- PacificNet Acquires Additional Interest in PacificNet Games (PacGames),

Gains 51% Majority Control

- Company to Focus on High-Margin Game and Gaming Technology Business

- Consolidation to Drive Synergy Effects between PacGames and

PacificNet's other CRM and Mobile Game Operations

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, today announced it has acquired an

additional 6% interest in PacificNet Games Limited (PacGames). Prior to this,

in connection with the acquisition of Able Entertainment previously announced

during the Q3 earnings conference call, PacificNet owned 45% of PacGames.

PacificNet now owns 51% of PacGames.

"This additional investment in PacGames enhances PacificNet's entry into

the new high-margin gaming technology business," said Tony Tong, Chairman and

CEO of PacificNet. "In recent board and management meetings, we evaluated the

early success of our gaming technology operation and were very satisfied with

the rapid progress and financial performance of the gaming operation. The

board of directors and management team has approved our new strategy to focus

on the rapidly growing gaming market in greater China, Macau, and Asia."

In September 2006, PacificNet opened an office in Macau to focus on the

rapidly expanding gaming and entertainment industries in that region. The

Macau office is located in First International Commercial Centre, Macau

Special Administrative Region, China, and is adjacent to the new Galaxy

StarWorld Hotel and is minutes from both the Wynn and Sands Casinos.

"We are happy with the progress of our gaming technology business. The

recent selection of PacificNet Game's electronic gaming machines by the

Holiday Inn Macau Casino marks our successful entry in the Asian hotel-casino

market," 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 recognize Macau's

remarkable growth potential and plan to aggressively pursue this mass market

with the goal of being the leading provider of electronic gaming machines for

the Asian gaming market."

Macau is one of the fastest-growing gaming markets in the world and is

predicted to surpass Las Vegas in total revenues by 2007. According to recent

statistics provided by Macau government, in 2005, Macau's gaming revenues

reached US$5.8 billion, second only to Las Vegas gaming revenues of US$6

billion. Macau borders Zhuhai City of Guangdong Province of China, one of the

country's wealthiest and most developed regions and is an hour away from Hong

Kong via ferry. The number of tourists visiting Macau reached 18.7 million in

2005, of which 56% or 10.5 million visitors were from mainland China. By 2010,

the number of tourists is expected to double to nearly 30 million visitors per

year. Approximately one billion people live within a three-hour flight of

Macau. Numerous hotel, gaming, and other projects are in the works in Macau

which are expected to add over 10,000 guest rooms and over 20,000 live

entertainment seats in eight separate venues. 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, 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, and Hong Kong Government. 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. We believe that 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.

PacificNet's operations can be classified into the following four main

business units:

(1) Outsourcing Services - involves human voice services such as Business

Process Outsourcing, CRM, call center, IT Outsourcing and software

development services. These types of services are conducted through

our subsidiaries EPRO, Smartime/Soluteck and PacificNet Solution Ltd.

(2) Telecom Value-Added Services (VAS) - primarily involves machine voice

services such as Interactive Voice Response, SMS and related VAS,

which are conducted through our subsidiaries such as Linkhead,

Clickcom, MOABC and Guangzhou 3G.

(3) Products (Telecom & Gaming) - primarily involves communication and

gaming products, GSM/CDMA/3G Products, Multimedia Communication

Kiosks. This Group includes the following subsidiaries: PacificNet

Communications Limited, iMobile, Take1 and PacificNet Games.

(4) Other Business - other administrative, financial and investment

services and non-core businesses such as PacificNet Power Limited

(PacPower), Pacific Financial Services Limited, etc.

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.

本文源自: 环亚娱乐