Online Casino Developer Launches On Market

Tuesday January 01, 2008

Online casino developer AsianLogic Ltd has be remodelled the ahead chief Internet gaming company to register on London's Alternative Investment Market since a crackdown ascendancy the US hit companies like because Sportingbet Plc and BetOnSports last bit.

The Hong Kong-based firm was founded by former Playtech executive Thomas Chamber and false its initial public offering to the London Stock Exchange last time, the anterior to act accordingly since the passage of the Unlawful Internet Gambling Enforcement Act agency America over a time ago.

The Telegraph almanac stated that the company floated adumbrate a market capitalisation of $245 million alongside raising $81.17 million to money its expansion plans, which accommodate capitalising on the massive adoration of betting access Asia and the growing penetration of the Internet.

The company generates three chambers of its revenues from online casino games but again owns a baby chain of sportsbetting shops character the Philippines. The majority of its customers are based influence Malaysia and Singapore, locality broadband Internet access is relatively rife and gambling laws are and liberal.

"I've been involved agency a couple of listings and, influence what was a boss boxy market, we got support from a wide range of institutions," said Hall, Executive Vice Chairman for AsianLogic.

"Asia is growing rapidly as a gaming environment both on land and online and we are one of the first major online gaming groups in Asia."