AsianLogic Online Casino Developer Listed on AIM

Onlinecasino.org News | 02.01.2008 | 22:24:39 | Views: 1744 | Casino News

New to the online gambling market, online casino developer, AsianLogic Ltd, has just been listed as the first online gaming company on London’s Alternative Investment Market (AIM), since the Unlawful Internet Gambling Enforcement Act (UIGEA) was signed into law.

AsianLogic's head office is located in Hong Kong and was founded by Thomas Hall, who used to work for Playtech. This is the first company to be listed on the AIM since the UIGEA was signed into law, which forced major players such as Sportingbet and BetOnSports to close their doors.

The online gaming industry is growing at a tremendous rate, especially in Asia, which is why AsianLogic was able to raise $81.17 million in order to fund its plans to capitalize on betting in Asia.

Executive Vice Chairman for Asian Logic, Tom Hall, said, "I've been involved in a couple of listings and, in what was a pretty tough market, we got support from a wide range of institutions."

"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," he added.

AsianLogic Limited was established in 2002 by a number of investment and gambling professionals who saw the potential of online gambling in the Asia Pacific Region. The majority of its customers are based in Singapore and Malaysia, where Internet is easily accessible and gambling laws are more liberal.

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