|Hong Kong-based AsianLogic Limited has issued a trading report for the past six months along with revealing a major deal for its upcoming Asian Poker Tour (APT).|
The recently floated online gaming company announced that average daily casino turnover increased by 34 percent over the previous quarter’s from eleven million dollars to $14.6 million while net gaming per day increased 31 percent from $243,069 to $320,158. The firm also revealed that poker fees increased by 39 percent, which was ahead of forecasts, while operating margins for 2008 have so far improved over those from 2007.
“Although AsianLogic anticipates lower levels of profitability in some sectors of its online casino activities due to margin pressure similar to that faced by land-based Asian casinos working with casino junket groups and agents,” read the report.
“The company does not believe that these margin pressures will significantly impact overall business and the company remains very positive on figures for the full year.”
In addition, AsianLogic revealed that the Asian Poker Tour (APT), which it purchased in February, had proved highly successful with its first event in Manila attracting 316 players, a record for any such competition held in The Philippines. It stated that players came from 23 countries and that it is expecting a greater number for its subsequent tournaments later this year in Macao, South Korea and Singapore.
AsianLogic stated that it is now planning its 2009 APT schedule comprising at least six events held in different Asian cities and has also agreed terms with a leading Macao hotel and casino in order to host an APT Poker Room within their premises.
Finally, AsianLogic announced that Thomas Hall, previously the firm’s Executive Vice-Chairman, has assumed the post of Chief Executive Officer with immediate effect. Hall has replaced Christopher Parker, who will carry on as a Director in his new position of Chief Executive Officer for the APT.