CAMBODIAN VENTURE FOR PACIFICNET

28 September 2007

Land gambling profit sharing deal signed with unidentified operator


The Asia-facing mobile and land gambling technology group PacificNet, Inc., has announced a new recurring revenue sharing deal between subsidiary PacificNet Games and an unidentified major land casino operator in Cambodia.

The deal calls for 150 betting stations to be deployed in 2007 with an additional 500-2000 machines in 2008, to be placed on a participation basis, and will include the full range of PactGames products including Abaco and Evona Roulette, CyberCash Slot Machines, EGT Slot Machines, Virgin and eTable Baccarat, AutoTable roulette and the Advansys Casino Management System.

PactGames develops gaming systems, software and hardware platforms for the land-based and online gambling industry, primarily targeting the fast growing Asian gaming market. Its latest iGaming products are targeted at the large number of land-based operators making their online debut.

PactGames gaming applications -- online virtual casino, virtual baccarat, sicbo, fish-prawn-crab, card games, poker, bingo, mobile gaming, live gaming, land-based kiosk networks, slot, RNG and fixed-odds games, with a powerful management interface allows the operators to effectively manage games and user accounts.

PacificNet has over 1200 personnel in Asia, with 300 engineers engaged in research and development of current and future gaming technologies for land-based and online operators.

The Cambodian agreement calls for games to be placed on a participation basis in the Cambodian cities of PoiPet (9 casinos currently), then Phnom Penh (60 private club casinos) and Bavet (6 hotel casinos) with further expansion into Vietnam, Laos and Myanmar in 2008. A recurring service and leasing contract will give PacificNet Games a 25 percent take of the net daily win per machine.

"We are very pleased to enter the Cambodian market which we feel has much potential in terms of returns," said Victor Tong, President of PacificNet. "We believe a revenue sharing model is a win-win for both ourselves and our casino partners as our games are some of the best performing games targeted at Asian gamers. We believe Cambodia and many South East Asian countries have great potential for growth in gaming over the next few years."

Gaming in Cambodia has been legal for less than a decade. Since legalisation, gaming has soared in popularity with casino projects planned and under construction in many parts of the country. The towering $100 million Malaysian-owned Naga World casino resort, one of the tallest buildings in Phnom Penh, already dominates that city's waterfront. The sharp rise in gaming attracts locals as well as many from Thailand, Vietnam, Korea, Japan and China.

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.

Online Casino News courtesy of InfoPowa