Strong Q2 Results for AsianLogic
LONDON -- AsianLogic (AIM: ALOG), the Asia-facing gaming company recently announced that it has experienced continuous success in the second quarter of 2008 for its casino and poker operations.
Covering April to June 2008, the London-listed AsianLogic () said in a trading statement that its average daily casino turnover increased by 34% over the previous quarter from US$11 million (January - March) to US$14.6 million this Q2. It's net gaming also increased from US$243,069 to US$320,158 or an increase of 31%.
For its poker operations, AsianLogic revealed that its poker fees continued to exceed forecasts. The second quarter of the year saw for the company its poker increase by 39%.
The company's operating margins in 2008 have so far showed improvement over 2007 although it "anticipates lower levels of profitability in some sectors of its online casino activities, due to margin pressure, similar to that faced by landbased Asian casinos working with casino junket groups and agents."
AsianLogic however remains upbeat that these margin pressures will not significantly impact overall business and that figures will remain positive for the year.
In addition, AsianLogic announced a number of developments after the company's first AGM last June 27. The company believes these developments will help it continue to grow and expand its online and landbased businesses.






