Ex-Playtech CEO To Take AsianLogic Public
Published: Tuesday, December 04, 2007 Online-Casinos.com
EX-PLAYTECH CEO TO TAKE ASIAN COMPANY PUBLIC
Tom Hall's AsianLogic could become the first London IPO for an Asian gambling firm
AsianLogic, a gambling software company founded by ex-Playtech exec Tom Hall could become the first Asian gambling company to launch a London IPO, according to the Reuters news agency, reporting that the firm is set to list before the Christmas break with a $110 million offer on the AIM.
It is believed that $90 million of the capital raised will be devoted to expansion and acquisition projects. Hall disclosed that around $50 million would be earmarked for acquisitions in Asia, and about $20 million would be deployed into developing slot machines for Asian gaming hotspots like Macau and the Philippines. The rest would go into a gaming and technology investment fund.
AsianLogic currently runs 10 Asian gaming websites and provides casino and poker sites with Asian-popular games like Cho Da Di and Mahjong as well 24 hour a day live video feeds of Philippino croupiers and dealers. It also has stakes in slot machine makers and runs an Asian gambling consultancy business.
The company was originally set up as ESL in 2002 by former Playtech Chief Executive Hall, ex British Army Officer Chris Parker and Asian gaming veteran Chi Kan Tang. It is being advised by Collins Stewart. It earns most of its revenues in Malaysia and Singapore from reselling Playtech's online gambling software to Asian gaming sites, while Playtech's Asian games use AsianLogic's croupier and dealer live feeds.
Tom Hall was formerly a private banker and has been based in Hong Kong and Manila for over 15 years. A Eurasian family member of the Stanley Ho gaming family, he is Chairman of ESL, an Asian focused gaming consultancy and venture capital firm. ESL advises leading casino software providers, online casino operators, sportsbooks, betting exchanges and payment processors on Asia related matters. Hall is still President - Asia Pacific, Playtech Online Gaming Platforms and also Global Development Director for the gambling software development company.
In mid-September this year Hall has sold 190 000 Playtech shares at 354 pence each in two separate transactions. Following the transactions, Hall had reduced his stake to approximately 0.09 percent of the voting rights in the company.
An old favorite brought back under a new software brand, U.S. friendly.
Use just one account to access poker, sports book and casino gaming.
Excellent number of high-quality games and great support.
Nice sign-up and on-going bonuses with fast cash withdrawal processing.
Good selection of fun games including some new, innovative games on offer.
Huge sign-up bonus with reasonable wagering requirements and an excellent look and feel.
New players receive an insane 200% bonus up to $1000 free on both their first and second deposit.
New players offered up to $888 free in sign up bonuses, a special bonus available for blackjack players as well.
