AsianLogic in Licensing Deal with PAGCOR

6 February 2008

In its first announcement since floating on the London Stock Exchange in December, AsianLogic has secured software licensing agreements with at least one Philippine operator.

AsianLogic subsidiary Gamebuilders Inc. will supply the Philippine Amusement and Gaming Corp. (PAGCOR) with online casino software.

Under the terms of the agreement, Philweb -- which offers Philippines residents online casino gaming via a partnership agreement with PAGCOR -- will operate the Playtech platform.

In a separate deal that was included in the AsianLogic announcement, Philweb inked an agreement with Philippine bingo operator Bingo Bonanza, where Playtech software is to be released in Bingo Bonanza-operated Internet casino stations.

With regard to this deal, AsianLogic -- through its Gamebuilders subsidiary -- will provide hosting, local software support and marketing services to Philweb and Bingo Bonanza.

"The agreement with Philweb will provide additional opportunities to expand penetration of the AsianLogic brand and products into one of the fastest growing markets for online and server-based gaming," said AsianLogic Co-Founder Tom Hall.

Among other activities, AsianLogic acts as an agent for Playtech in the Asia-Pacific region, introducing new customers to Playtech and receiving a commission based on ongoing royalty revenue. Commissions continue for as long as the licensee remains with Playtech.

Financial details were not disclosed.

On the LSE, shares in AsianLogic were up 1.50p, or 1.42 percent, to 107.00.

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