MAKATI CITY, PHILIPPINES - Aiming to strengthen its hold in the Asian gaming market, Philippine-based gaming firm, AsianLogic Limited, is said to have bought out 12Bet, another Asian gaming operator.
AsianLogic, which operates Asia-facing online casino, poker, and peer-to-peer gaming websites as well as a sportsbook operation in the Philippines, has partnered with 12Bet in the past. By acquiring 12Bet, AsianLogic is strengthening its sportsbook competency to complement its other online gaming operations.
According to AsianLogic Chief Executive Chi Kan Tang:
"We can now offer customers a comprehensive 'best-of-breed' suite of gaming products. The respective management teams have known each other for many years, so it's also a great fit going forward operationally especially as we both use the same sportsbook and casino platform providers."
AsianLogic's casino and poker gaming software is provided by Playtech while its sportsbook operation uses Global Betting Exchange's iBroker software.
No sum was disclosed regarding the purchase but under the agreement, assets of both Asia-focused gaming firms will be integrated under a newly formed holding company. Both AsianLogic and 12Bet are both licensed in the Philippines but also hold licensees in Alderney and the Isle of Man respectively
According to 12Bet Europe Chief Executive Rory Anderson:
"AsianLogic is very strong in the online casino and poker environment as well as controlling land-based brands such as the Asian Poker Tour, and being able to better offer these products to sportsbook customers should enhance revenue across the board."
AsianLogic also owns and operates the Asian Poker Tour which is currently holding its Festival of Poker in Macau.
