The past year hasn't been the greatest year for new online gambling firms. Although existing companies were showing growth and generated billions of dollars, there were no new major online casino firms that went on stage. However, the spirit of Christmas has brought one hell of a holiday present for the industry - the launch of the very new AsianLogic online gambling! The company was founded by a top Playtech executive and is expected to launch its IPO on the London Stock Exchange Market immediately.
The company will be the first online casino firm to take a serious step and dive head first into the online gambling industry since the enactment of the Unlawful Internet Gambling Enforcement Act. Going public is a serious matter for online casino firms. Once public, the company has to make its share look promising enough so investors will buy it. It's a wonderful way to raise money, but it's difficult to execute under the unclear conditions that are constantly changing in the world of online casino business. However, the company has been working in the business since 2002 and has a skilled and experienced managing team.
"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," explained the executive vice chairman of AsianLogic. "Asia is growing rapidly as a gaming environment both on land (i.e. casinos and betting shops) and online and we are one of the first major online gaming groups in Asia." Hopefully, AsianLogic's move will be a successful one and other gambling firms will see that online casinos are here to stay. Although the American market is currently out of the picture, there are many other places were online gambling is very welcomed.
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