More Asian market penetration for online gambling firms
The recently listed Asia-Pacific facing online gambling group Asian Logic Limited is in the business news again this week with a licensing agreement with the Philippine Amusement and Gaming Corporation (PAGCOR) and Bingo Bonanza that will expand its presence in the important Asia-Pacific market sector.
In terms of the agreement, the financial details of which were not disclosed, Asian Logic subsidiary Gamebuilders Inc is to license bespoke online casino software to PAGCOR. The agreement allows Philweb, the service provider to PAGCOR, to operate the casino platform ultimately furnished by the Isle of Man turnkey provider Playtech, for which AsianLogic acts as a distributor/reseller in the region and assists with business development, product customisation and localisation for Asian markets.
Philweb has in addition recently concluded an agreement with Bingo Bonanza where Playtech software is to be released in Internet casino stations (ICS) operated by that company. Bingo Bonanza is a major bingo hall operator in the Philippines with some 36 halls currently open and a further 4 to 6 bingo halls and bingo boutiques forecast to open in 2008.
Gamebuilders Inc will provide hosting and a range of support and marketing services to Philweb and Bingo Bonanza alongside local software support. The software has been customised to PAGCOR's specific requirements to enable it to provide the highest level of service to its customer base, a spokesman for Asian Logic revealed.
Philweb is the exclusive provider of e-casino services to PAGCOR and operates 80 e-casino enabled internet outlets in the Philippines.
Commenting on the deal, Tom Hall, AsianLogic's Executive Vice Chairman said: "Following our successful IPO this agreement is further evidence of our strategy to grow our customer reach and appeal. The agreement with Philweb will provide additional opportunities to expand penetration of the AsianLogic brand and products into one of the fastest growing markets for online and server based gaming."
Philweb president Dennis Valdes said: "Philweb is the leading interactive gaming supplier in the Philippines and we are delighted to be able to offer world leading software to the Philippines market in conjunction with Bingo Bonanza. The product extends the gaming offering that both ourselves and Bingo Bonanza have and further cements Philweb's position as a technical innovator in the Philippines. The software has been customized to our specific requirements so that we can provide the highest level of service to PAGCOR."