AsianLogic Plans First London IPO for Asian Gambling Firm
Tom Hall is a former executive of the online casino turnkey provider Playtech. Halls now heads AsianLogic, an Asian gambling company that runs more than 10 Asian gambling websites. It seems that Hall used the knowledge and experience he acquired at Playtech to bring AsianLogic to the front of the stage. Now we hear that Hall wants his company to be more like Playtech and plans the first London IPO by an Asian gambling firm. According to the Reuters news agency the firm is heading for a pre-Christmas break with $110 million offer.
The firm is believed to use some $90 million for expansion and acquisition projects. The online gambling industry is all about cooperation and merges these days and for such actions one needs capital. Hall even gave further details and said that $50 million will be devoted for acquisitions in Asia while $20 million will be used for the development of slot machines for Asian gaming hotspots like Macau. A London IPO could raise a lot of money for the young firm and help it establish itself in the harsh world of virtual gambling. Serving a global community of gamblers it’s obvious that large sums of money are needed.
The company is currently operating several online casino sites while powering video-feeds of Philippino croupiers and dealers. Virtual gambling doesn’t have to involve the internet and there are many other firms that use their technology in order to power land-based operations that use a virtual platform. On top of all its business, the gambling firm also runs an Asian gambling consultancy business. With its knowledge and experience, there are many who will pay for its assistance. The company is run by ex-Playtech executives and considered to be doing well. Hopefully its IPO will go as planned and we will see the online casino market in Asia grows and develops.