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PACIFICNET GAMES ENTERS INTO STRATEGIC ALLIANCE AGREEMENT WITH LEADING MOBILE GAMING PROVIDER SPIN3
MACAU, CHINA, 5 FEBRUARY 2008 PacificNet, Inc. (NASDAQ: PACT), a leading provider of gaming and mobile game technology, e-commerce, and Customer Relationship Management (CRM) in China, announced today that its PacificNet Games (www.PactGames.com) subsidiary has entered into a strategic alliance agreement with Spin3 (www.spin3.com), a division of Spiral Solutions Ltd, and a leading provider of mobile gaming solutions powered by Microgaming (www.microgaming.com), the world's largest online gaming software provider.
Through this agreement, PacificNet Games will utilize Spin3's extensive line of interactive, wireless gaming products in multiple Asian markets including Cambodia, China, the Philippines and Macau. The combined offering includes mobile, web, and station based gaming, which contains Spin3's OnCash patent-pending cash and distribution chain management system, as well as online games provided by Microgaming including slots, video poker, RNG table games, and live dealer games.
"We are more than excited to partner with Spin3 to expand our online business in one of the fastest-growing gaming markets in the world," said Eugene Ng, Online Gaming Director of PacificNet Games. "We make the profit sharing model a lot easier to enter into due to the relatively low investment costs required to establish mobile and online gaming operations. Our regional casino partners are eager to go online and let their players continue gaming from anywhere at any time."
"The Asian market for mobile and online gambling has a tremendous potential for growth," said Matti Zinder, Head of Spin3. "Our OnCash offering is particularly suited for the diverse economies across the region. For existing and new customers, OnCash is an easy solution that overcomes a wide range of payment issues. We are very pleased to enter into a partnership with a company as well-known and established as PacificNet, and to extend our combined offering throughout Asia."
Spin3's OnCash system enables land-based casinos to instantly expand their business online while maintaining customers' current payment processing methods. Players pay for credits and receive play-for-real casino games on their mobile phones, and a secure user login for an online casino powered by Microgaming. OnCash also includes a unique back-office management system, which includes multi-level network and credit management modules to provide an effective way of managing multi-tier distribution networks with full control over the amount of credits managed by each level in the network.
PacificNet Games' 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.
About Spin3 (www.spin3.com) Spin3, a division of Spiral Solutions Ltd., has partnered with Microgaming, the world's leading developer of online gaming solutions, to provide turnkey solutions for the mobile gaming arena. The complete offering includes dynamic wireless real and play-for-fun casino systems, flash casino, marketing services and innovative technologies that push the interactive gaming industry to new frontiers.
About Microgaming (www.microgaming.com) Since the company developed the first true online casino software over a decade ago, it has led the industry in providing innovative, reliable gaming solutions. Thanks to an unrivalled R&D programme, that averages 60 games per year and a unique 'partnership' approach to working with operators; Microgaming powers 120 of the world's most profitable casino sites. The company's front and back-end software supports multiplayer, multilanguage games - over 350 of them, all uniquely branded. The Microgaming Progressive Jackpot Network is the world's largest progressive and has paid out a record £115m plus in the last four years.
Microgaming software also powers the world's leading poker network with over 40 card rooms and platforms for landbased and wireless gaming.
As a founding member of eCOGRA, Microgaming is at the forefront of an initiative focused on setting the highest standards in the gaming industry, and leads in the areas of fair gaming, responsible operator conduct and player protection.
About PacificNet Games (www.PactGames.com) PacificNet Games (PactGames) specializes in design and development, manufacturing, participation, distribution and sales of computerized gaming machines and systems focusing on the Asian casino gaming markets. PactGames aimes to provide casino customers with the most complete line of diverse gaming products and management solutions, including electronic multi-player table games, video slot machines, table utilities equipment, casino management systems, patented casino games, online gaming platforms, and wireless gaming solutions for interactive gaming, the combination of in-depth market excellence and innovation product development, enable PacificNet Games to deliver cutting-edge and market competitive products to enhance casinos' gaming experience, profit and security.
About PacificNet (www.PacificNet.com) PacificNet, Inc. (NASDAQ: PACT) 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.
Spin3 Press Contact Nelson Bostock Communications Tim Lines or Daniela Karthaus Tel: +44 20 7229-4400 Email: daniela.karthaus@nelsonbostock.com
PacificNet Games Press Contact PacificNet Games Macau Office Eugene Ng Tel: +853 2870-1451 Email: eugene@pacificnet.com
Malta Clarifies Online Gambling Issues The online gambling jurisdiction of Malta has released a statement rebutting claims that the industry on the Mediterranean island is unregulated and unscrupulous
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