AsianLogic Buys Asian Poker Tour

AsianLogic, the Asia-Pacific online and land-based gaming company listed on the Alternative Investment Market in London, today announced it had acquired the Asian Poker Tour (APT) from Capital Events in Singapore.

Capital Events will continue to run the tour, which recently added the Korean Professional Poker Tour and remains a shareholder.

The agreement will see AsianLogic manage the running of the APT's online and land-based tournaments, as well as taking control of the APT's brand and URLs giving the company access to the APT database, which it hopes will help drive players to its poker sites.

Additionally, the APT will launch online poker rooms on Playtech's iPoker network.

AsianLogic's CEO, Chris Parker, said, “We will organize four tournaments in 2008, and we will be looking to attract both land-based players and players from the Internet via online satellites. In its latest forecast, Global Betting and Gaming Consultants (GBGC) predicts that the Asian poker market will grow at a compound annual growth rate of 23 percent for the next four years compared to a total global poker growth rate of 7.6 percent. We believe that forecast to be conservative. The most recent boost to poker in the region was the recent announcement by the Macau Government authorizing holders of casino concessions in this Special Administrative Region of China to offer individual games and poker tournaments of Texas hold 'em.”

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