Ambitious Plan Offers Play for Points Games, Social Networking and Prizes
HONG KONG, July 28 /Xinhua-PRNewswire/ -- C Y Foundation Group Limited (HKEx: 1182) ("C Y Foundation" or the "Company"), the interactive media entertainment company focused on providing quality entertainment across China, has signed a joint marketing and operation agreement with AsianLogic Limited (AIM: ALOG) to establish a pan-China online game network.
The agreement covers the 178world portal which features the popular 178games platform launched by C Y Foundation across China 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, and provides prizes.
A team of marketing experts from 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 majority of the tournaments will involve a version of Texas Hold'em, modified to meet China's regulatory requirements.
Mr. Theodore Cheng, Executive Chairman of C Y Foundation, says the agreement will help set new online gaming bench marks. "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."
The 178games.com network is expected to hold its official launch in mid-September.
The Group plans to introduce Texas Hold'em at the launch and will add other popular games such as Doudizhu and Cho-da-di over the coming months..
Tom Hall, AsianLogic CEO, described the launch as "a milestone.
"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," he said.
About C Y Foundation
C Y Foundation is an interactive media entertainment company focused on providing quality entertainment across China. It is the only company dedicated to organizing and running P2P tournaments for prizes throughout China. The Group will provide "green" Internet cafes in China and a national electronic tournament platform to develop the online tournament gaming market. The Group will lead this charge with its flagship entertainment centers and through its PRC vehicle subsidiary, C Y Foundation Culture Company Limited, and its strategic partner, Network Movie Center of the Central Committee of the Communist Youth League of China. Website: http://www.cyfoundation.com .
About AsianLogic:
AsianLogic is a leading online and land-based gaming company focusing on the Asia-Pacific markets. The Company operates eight online casino brands and four online poker rooms as well as land-based sportsbook operations through its MegaSportsWorld brand. It is a specialist in Asia-specific games such as Mahjong, Cho-Da-Di, Doudizhu and 13 Card Poker. The company owns and operates The Asian Poker Tour. The Company also maintains a corporate advisory team specialising in the gaming sector which is an active investor in gaming-related businesses as well as providing consultancy and analytical services. AsianLogic enjoys strong commercial relationships with leading gaming providers including Playtech and LVS. Founded as ESL in 2002, AsianLogic employs over 300 employees, the majority of whom are based in the Philippines.
For more information:
C Y Foundation Group Limited
Sam Woelm
Tel: +852-2833-9518
Email: samwoelm@cyfoundation.com
AsianLogic Limited
Tom Hall
Tel: +852-9037-3749
Email: tom@esl-asia.com
