Casino News: AsianLogic Appointed a New Executive

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AsianLogic has appointed a new chief executive while they got positive Q2 business results.
The executive vice chairman and founder of AsianLogic, Tom Hall, the founder of AsianLogic and executive vice chairman, now will be in charge of the Chief Executive Officers for the group. Christopher Parker was the former vice chairman, who now is positioned as a director of the group and a chief executive of the Asian Poker Tour.

Hall is well known for an expert in the field of Asia Pacific interactive gaming, and for the director and president of software developer Playtech's operations in the field. He is of Eurasian Hong Kong origin and has extensive knowledge in international customer growth and the increase of customized software solutions for the Asian marketplace.

In his management responsibility with AsianLogic and Playtech, he has had general dealings with gaming operators in both the land based and online sector.

From 1995 until 2002, he was Chief Executive Officer of TTR Strategic Holdings Limited (“TTR”), an Asia Pacific focused financial services group, and later on became CEO of its data processing associate – NAV Limited. Before that, he worked in Swiss private banking and private client financial services in the UK and Hong Kong. He is also a non-executive director of a number of gaming and technology companies.

Recently, AsianLogic's got a positive result in development, Q.2 online casino average daily turnover up by 34 percent on Q.1 to $14.6 million, and view for the future is bright. Net gaming revenue per day increased 31 percent to $320,158 and 39 percent up on-quarter for poker fee, beating forecasts.

Operating margins have enhanced. However, AsianLogic is expecting lower levels of productivity in some sectors of its online casino activities because of margin pressure, but says these pressures do not necessarily will have an impact on overall business.

Over the next 3 years, AsianLogic and its sportsbook partner are going to get up to 342 million shares. It’s about 30 percent of LRWC. Asianlogic said it will also invest $4.5 million in LRWC.

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