KEY EASTERN TOURS TAKEN OVER BY ASIAN LOGIC

22 February 2008

Newly listed gaming company bags Asian Poker Tour and the Korean Professional Poker Tour


Recently listed on the London AIM exchange and Playtech associate Asian Logic Limited scored a major Asian tournament coup this week with the acquisition of the burgeoning Asian Poker Tour and the Korean Professional Poker Tour.

The first Asia-based online gaming company to seek a London listing, the Asia-Pacific online and land-based gaming company announced that it has entered into an agreement with Singapore based Capital Events Pte to acquire and take over the running of the APT.

Capital Events remain a key strategic shareholder in the APT and retain ongoing control and responsibility for poker events in Singapore. The APT has further strengthened its position in Asia with the addition of the Korean Professional Poker Tour ("KPPT") as a shareholder and exclusive partner in Korea.

AsianLogic will manage the running of the APT's online and land- based tournaments and assume control over APT's brand and URL's. This will allow the company access to APT's extensive database of players and contacts and will in turn drive additional online traffic to AsianLogic's poker sites.

The APT will soon launch its own online play for fun and play for real poker rooms on Playtech's iPoker network.

AsianLogic's CEO, Chris Parker commented: "Following our successful IPO, this agreement is further evidence of our strategy to grow our customer reach and appeal, and reflects the strength of AsianLogic's market leading presence in the Asia-Pacific region.

"Poker continues to grow across the region at a very fast rate. We have been in negotiations for some time with the APT who, as the first poker tournament organiser in Asia with an excellent brand and strong brand recognition, were a key target for us.

"We will organise four tournaments in 2008 and we will be looking to attract both land-based players and players from the internet via online satellites. We have been working with the KPPT for some time and bringing their team on board on an exclusive basis adds considerable experience in many areas. This also provides us with some significant competitive advantages in Korea which is one of the key poker playing markets in Asia.

"The APT will be significantly larger than any other tournaments currently operating in Asia with each of our main events offering a US$ 1 million guaranteed prize pool with US$ 2 500 player buy-ins. There will be other innovative tournament features which we will be offering to players in conjunction with some of the sponsors we will be bringing on board as part of the APT which we feel will be extremely attractive and will ensure the initial and ongoing success of the tour.

"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"

Mike Kim, CEO of the KPPT said: "AsianLogic is the clear market leader in this space in Asia and we were impressed with their clear and deliverable roll out plan for the APT, and their general approach to gaming in Asia, both online and land- based. I look forward to a long and rewarding partnership."

Nicole Wee, Director of Capital Events, said "Following the highly successful and unprecedented Asian Poker Tour event in Singapore, I am excited about the significant partnership between Capital Events, AsianLogic and KPPT in bringing more poker tournaments and online poker across the Asian region. This groundbreaking partnership will take the poker explosion in Asia to new heights."

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