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Ex-Playtech CEO To Take Asian Company Public
AsianLogic, run by Tom Hall could become the first London IPO for an Asian
gambling firm. There are reports that the firm is set to list before the
Christmas break with a $110 million offer on the AIM. It is said that $90
million of the capital raised will be specifically used for expansion and
acquisition projects within the sites. He has said that around $50 million will
be earmarked for acquisitions in Asia and about $20 million would be given to
developing slot machines for Asian gaming hotspots like the Philippines and the
remaining funds would go to gaming and technology investment funds.
AsianLogic currently runs 10 gaming websites and they provide some casino and
poker sites with Asian popular games like Mahjong. The company was originally
set up as ESL in 2002 by Hall, Chris Parker, and Chi Kan Tang all veterans of
the industry. As of mid September this year Hall sold 190.000 shares at 354
pence each in two separate transactions which reduced his stake in the company
to about 0.09% of the voting rights.
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