PacificNet says that its PacificNet Games Limited subsidiary has been selected by Holiday Inn Macau Casino to provide multi-player electronic gaming machines.<\/p>\n
Terms of the agreement were not disclosed due to competitive reasons.<\/p>\n
The Holiday Inn is right in the heart of Macau's casino district, with the Casino Lisboa to the west and the Vegas- style Sands casino and the Fisherman's Wharf entertainment area to the east.<\/p>\n
\"The selection of PacificNet Game's electronic gaming machines by the leading hotel-casinos in Macau marks the beginning of PacificNet's transition away from the low-margin telecom business into the new high-margin gaming 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 satisfied with the rapid progress and financial performance of the gaming operation.\"<\/p>\n
In September, 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 the First International Commercial Centre, Macau Special Administrative Region, China, is adjacent to the new Galaxy StarWorld Hotel and is walking distance from both the Wynn and Sands Casinos.<\/p>\n
According to recent statistics provided by the Macau government, Macau is one of the fastest-growing gaming markets in the world and is predicted to surpass Las Vegas in total revenues by 2007. 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. Macau is the only area in China where this type of gambling is legal.<\/p>\n","protected":false},"excerpt":{"rendered":"
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