AsianLogic to create online games network in China

The agreement covers the 178world portal and features the popular 178games platform launched by C Y Foundation in May 2007. The 178world portal is built around a central games platform that offers daily online tournaments, an online game community, social network and forums, as well as prizes.

AsianLogic and C Y Foundation will develop a national brand image for the new platform highlighting the advanced point system which enables winnings to be exchanged for gifts, and the platform’s ability to run non-stop tournaments.

The 178games.com network is expected to launch in mid-September 2008, with Texas Hold’em and other popular games such as Dou-di-zhu and Cho-da-di expected to be rolled out in the next few months. The majority of the tournaments will involve a version of Texas Hold’em, modified to meet China’s regulatory requirements.

Through its joint venture with Network Media Center, C Y Foundation is able to operate online P2P game tournaments for prizes across a network of 20,000 internet cafes in China.

Tom Hall, AsianLogic CEO said: "C Y Foundation’s detailed knowledge of the mainland market and the licenses C Y Foundation currently holds combined with AsianLogic’s proven industry track record offers online game players across China an unparalleled game experience."

Theodore Cheng, Executive Chairman of C Y Foundation said: "We are proud to partner with AsianLogic in establishing what I believe will be one of the most dynamic and popular online game platforms in China. AsianLogic has the experience of running online and land-based card game tournaments across Asia, C Y Foundation has an in-depth knowledge of China’s online game market. By combining our joint experience, we are set to become the leading infrastructure and game providers in the fast-growing China market."

Last year UK-listed online gaming software provider Playtech Ltd signed an agreement with Foundation Group Ltd, as C Y Foundation was previously known, to supply P2P gaming software nationwide across China.