PacificNet Octavian Selected by Leading Gaming Operators in Malta to Provide EGMs and ACP System |
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By: PacificNet, Inc. Posted: 2008-02-23 05:35:46 |
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PacificNet, Inc. (Nasdaq: PACT), a leading provider of gaming technology, Customer Relationship Management ("CRM") and e-commerce in China, announced today that its Octavian International Limited ("Octavian") subsidiary has been selected by leading gaming operators in Malta to provide EGMs (Electronic Gaming Machines) and its ACP (Accounting, Control, Progressives) System.
Octavian International is working with LAAK and Vanguard, two gaming operators in Malta, to offer a cost-effective systems solution that will enable all of the island's gaming venues to conform to new legislation recently introduced by the Maltese Government. The new legislation will require all venues operating gaming machines to connect to a Government- licensed operator's central monitoring system for accounting purposes. As a result, each gaming venue operator will require, as a minimum, a single-site slots management system such as those offered within Octavian's range of ACP systems. LAAK and Vanguard are two operators who have joined forces to help the island's gaming industry meet the new legislative requirements with the minimum of disruption to business. "It is our belief that the new legislation will result in machine numbers on Malta being cut in half. While there is no set machine limit on the island, due to the high license fees only the most profitable sites will remain," said Gary Pace, Managing Director of LAAK. Daniel Schembri, Managing Director of Vanguard added, "This means that those operators who remain in the Maltese market will need to rely on a cost- effective slot management solution that will meet their regulatory requirements and, at the same time, enable them to run an efficient and profitable operation." LAAK and Vanguard were aware of Octavian's track record in customizing its systems to the needs of local gaming markets which motivated them to initiate talks with Octavian. "Octavian's cost-effective P-Box system and single-site ACP systems will allow each gaming venue to meet the anticipated regulatory requirements," said Robert Dykstra, General Manager of Octavian EMEA. "In addition, the systems provide powerful progressives functionality to help each venue to attract more customers and drive revenue growth, with an easy upgrade path." An initial participation deal for a number of Octavian-supplied gaming machines has already been signed and the first Octavian ACP systems are expected to be installed at gaming venues across the islands. In parallel with this activity, and subject to contract, it is expected that LAAK and Vanguard will be appointed as distributors for Octavian systems and games on Malta including Octavian's Maverick EGM which will be supplied on either an outright sale or participation basis. The Maltese Government has set a live date of June 1, 2008 as an initial goal for gaming operators to start reporting, though not all machines will be required to be linked to the central monitoring system immediately. All machines must be compliant by December 31, 2008 and those that do not comply by June 1, 2008 will be charged a higher license operating fee. About PacificNet PacificNet, Inc. (Nasdaq: PACT) is a leading provider of gaming and mobile game technology worldwide. Having established itself with e-commerce and Customer Relationship Management (CRM) solutions for the Chinese market, the company has diversified to focus on systems and games development for the global gaming market. Through its highly experienced gaming subsidiaries including PactGames, Take1 Technologies and Octavian International, PacificNet is able to offer world-leading solutions in casino equipment supply and the development, installation and support of systems and game content for the casino, lottery and AWP markets. Positioning itself as the systems integrator for the gaming industry, with a special focus on the emerging markets, PacificNet enables customers to integrate gaming operations, linking electronic gaming machines, tables and larger networks so that operators can build efficient and highly attractive gaming operations that drive revenue growth and profit opportunity for operators and enhance the customer experience. PacificNet's gaming clients include leading hotels, casinos, and gaming operators in Asia, Europe, Latin America, Russia and other gaming markets around the world. The company employs around 1,800 staff in its various subsidiaries with offices in Argentina, Australia, China, Colombia, Germany, Hong Kong, India, Italy, Russia, Ukraine, UK and the US. 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. For more information, please contact: If to PacificNet: PacificNet USA office: Jacob Lakhany Tel: +1-605-229-6678 |
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