ALOG Asianlogic

RNS Number:0570O
AsianLogic Limited
15 February 2008





                               AsianLogic Limited
                                        
                        ("AsianLogic" or the "Company")
                                                                  
                      AsianLogic Acquires Asian Poker Tour
                                        
AsianLogic Limited (AIM: ALOG), the Asia-Pacific online and land-based gaming
company, announces that it has entered into an agreement with Singapore based
Capital Events Pte to acquire and take over the running of the renowned Asian
Poker Tour ("APT"), Asia's original and largest poker tour.

Capital Events remain a key strategic shareholder in the APT and retain ongoing
control and responsibility for poker events in Singapore.  The APT has further
strengthened its position in Asia with the addition of the Korean Professional
Poker Tour ("KPPT") as a shareholder and exclusive partner in Korea.

Under the terms of the agreement AsianLogic will manage the running of the APT's
online and land-based tournaments and assume control over APT's brand and URL's.
This will allow the Company access to APT's extensive database of players and
contacts and will in turn drive additional online traffic to AsianLogic's poker
sites.

The APT will launch its own online play for fun and play for real poker rooms on
Playtech's iPoker network.

AsianLogic's CEO, Chris Parker commented:

"Following our successful IPO, this agreement is further evidence of our
strategy to grow our customer reach and appeal, and reflects the strength of
AsianLogic's market leading presence in the Asia-Pacific region."

"Poker continues to grow across the region at a very fast rate. We have been in
negotiations for some time with the APT who, as the first poker tournament
organiser in Asia with an excellent brand and strong brand recognition, were a
key target for us. We will organize four tournaments in 2008 and we will be
looking to attract both land-based players and players from the internet via
online satellites. We have been working with the KPPT for some time and bringing
their team on board on an exclusive basis adds considerable experience in many
areas. This also provides us with some significant competitive advantages in
Korea which is one of the key poker playing markets in Asia.

"The APT will be significantly larger than any other tournaments currently
operating in Asia with each of our main events offering a US$1 million
guaranteed prize pool with US$2,500 player buy-ins. There will be other
innovative tournament features which we will be offering to players in
conjunction with some of the sponsors we will be bringing on board as part of
the APT which we feel will be extremely attractive and will ensure the initial
and ongoing success of the tour."

"In its latest forecast, Global Betting and Gaming Consultants (GBGC) predicts
that the Asian poker market will grow at a compound annual growth rate of 23%
for the next four years compared to a total global poker growth rate of 7.6%. We
believe that forecast to be conservative. The most recent boost to poker in the
region was the recent announcement by the Macau Government authorizing holders
of casino concessions in this Special Administrative Region of China to offer
individual games and poker tournaments of Texas Hold 'Em"

Mike Kim, CEO of the KPPT said:

"AsianLogic are the clear market leader in this space in Asia and we were
impressed with their clear and deliverable roll out plan for the APT and their
general approach to gaming in Asia, both online and land-based. I look forward
to a long and rewarding partnership."

Nicole Wee, Director of Capital Events said

"Following the highly successful and unprecedented Asian Poker Tour event in
Singapore, I am excited about the significant partnership between Capital
Events, AsianLogic and KPPT in bringing more poker tournaments and online poker
across the Asian region.  This groundbreaking partnership will take the poker
explosion in Asia to new heights."


                                    - ends -


For further information contact:

Tom Hall, Executive Vice Chairman

AsianLogic +852 9037 3749


Tim Mickley

Collins Stewart +44 207 523 8350


David Rydell/Chris Hamilton/Helen Tarbet

Bell Pottinger Corporate & Financial +44 207 861 3232



NOTES TO EDITORS

AsianLogic is a leading online and land-based gaming company focusing on the 
Asia-Pacific markets.  The Company owns and operates eight online casino brands
and two online poker rooms as well as land-based sportsbook operations through 
its MegaSportsWorld brand.  It is a specialist in Asia-specific games such as 
Mahjong, Cho-Da-Di, Do-Di-Zhu and 13 Card Poker.

The Company also maintains a corporate advisory team specialising in the gaming
sector which is an active investor in gaming-related businesses as well as 
providing consultancy and analytical services.  AsianLogic enjoys strong 
commercial relationships with leading gaming providers including Playtech, 
ID Games and LVS.  Founded as ESL in 2002, AsianLogic employs over 300 
employees, the majority of whom are based in the Philippines.






                      This information is provided by RNS
            The company news service from the London Stock Exchange

END
AGRTIMRTMMIBBLP

Asianlogic (LSE:ALOG)
Historical Stock Chart
From May 2024 to Jun 2024

Asianlogic (LSE:ALOG)
Historical Stock Chart
From Jun 2023 to Jun 2024