BEIJING, Dec. 26 /Xinhua-- PacificNet, Inc. (Nasdaq: PACT - News), a leading provider of Customer Relationship Management (CRM), mobile internet, e-commerce and gaming technology in China, announced today that its Take1 Technologies ("Take1") subsidiary has introduced a new line of gaming machine products: Electronic Bingo Machines. The electronic bingo machines were given positive reviews upon their initial presentation to several leading bingo halls and bingo operators in Europe.
PacificNet's Take1 Electronic Bingo Machines are played much like traditional bingo, but without the hassle of paper cards and mess of ink blotters. The Take1 Bingo Machines are based on a client-server computer network architecture and players can buy electronic bingo tickets using one of the many electronic bingo terminals (or client betting stations) situated in a variety of electronic bingo sales outlets. This automation allows for players to play more games faster and to play from any location that's linked to the central electronic bingo server, thus increasing bingo operator's revenue.
PacificNet's Take1 subsidiary has been in the business of designing and manufacturing electronic multimedia entertainment kiosks. Software for the machines was co-developed by PacificNet's software outsourcing unit Pacific Solutions Technology, one of the CMM Level 3 certified software development centers with over 200 software programmers located in Shenzhen, China. Recent regulation changes in several European countries have opened the doors to more widespread electronic bingo operators and a need to upgrade to the latest client-server based bingo gaming machines.
"We are delighted to unveil our newest bingo gaming products from our Take1 subsidiary after two years of research and development on this product line," said Tony Tong, Chairman and CEO of PacificNet. "Electronic bingo machines are a big hit with both bingo hall operators, because of their increased revenues and efficiencies, and bingo players, because of their ease of use, faster games and fun features. Several major bingo hall operators in Europe have tested our electronic bingo machines and their response was overwhelmingly positive. These machines are also a good fit with our new Asian gaming focus. I am very happy with the synergy shown by our subsidiary companies who worked together to come up with this product and we are very excited to get them on the market."
Bingo is a game of chance where randomly-selected numbers are drawn and players match those numbers to those appearing on 5x5 matrices which are printed or electronically represented and are known as "cards." The first person to have a card where the drawn numbers form a specified pattern is the winner and calls out "Bingo!" to alert others to the win. Bingo is a game used for legalized gambling in some countries. Bingo is a form of lottery which can be traced back to a game called Lotto, played in Italy in 1530. When Italy was united in 1530, the Italian National Lottery Lo Giuoco del Lotto d'Italia was organized, and has been held, almost without pause, at weekly intervals to this date. Today the Italian State lottery is indispensable to the government's budget, with a yearly contribution in excess of 75 million dollars.
About Take1 Technologies
Take1 Technologies (www.take1technologies.com), a member of PacificNet group, is a leading designer, developer and manufacturer of multimedia entertainment and communication kiosk products including photo & video entertainment kiosks, digital camera photo development stations, multimedia messaging services (MMS) & mobile content download stations for mobile phones, and other coin-operated peripherals and consumables. Take1 has recently entered the electronic bingo machine business and plans to purse this market aggressively. Take1 Technologies is based in Hong Kong and markets and distributes its products around the world including the USA, Canada, Mexico, Europe, China, and SE Asia.
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 and 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, Hong Kong Government, and leading hotel- casinos in Macau and Asia. 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.
Safe Harbor Statement
This Company's announcement contains forward-looking statements. Statements that are not historical facts, including statements about our beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. Potential risks and uncertainties include, but are not limited to, PacificNet's possible future losses, uncertain regulatory landscape in China, and fluctuations in quarterly operating results. Further information regarding these and other risks is included in PacificNet's Form 10KSB and other filings with the SEC.
PacificNet USA office: Jacob Lakhany, Tel: +1-605-229-6678
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Source: PacificNet, Inc.