Page 3 - Gaming Companies

Gaming firm Nazara Technologies to raise Rs 410 cr from SBI Mutual Fund

Company will use investment for growth objectives including strategic acquisitions

Gaming unicorn MPL lays off 350 employees, revisits office infra costs

The move comes at a time when the GST Council has recommended imposing a 28 per cent tax on full deposit value, with no distinction made between games of skill and chance

Nazara Tech jumps 5% on strong Q1 results; stock up 20% so far in 2023

In the recently concluded quarter, Nazara's revenue from operations climbed 14 per cent YoY to Rs 254.4 crore. However, a sequential decline of 12 per cent was seen from Rs 289.32 crore in Q4FY23

Global gaming firms running 'no GST' ads to lure Indians to their platforms

The development has come in the wake of a recent government decision that imposed a 28% GST on the full-face value of the placed bets

US appeals court denies FTC bid to block Microsoft-Activision deal

Activision climbed as much as 4.4% in after-hours trading, rising to $94 from its close of $90.07. Microsoft gained 1.5%

WinZo saw 40 bn micro-transactions on its platform in FY23, mostly via UPI

The company added that it contributes to at least one out of every 250 UPI transactions that occur in India and accounts for over 30 million UPI transactions per month

Indian gaming CEOs slam Google's 'jagirdari' 30% tax on in-app purchases

Leading gaming platform CEOs on Monday expressed their grave concerns over the 'extortionist' 30 per cent tax imposed by Google on gaming apps in the country.

Gaming cos deploy geofencing as TN online gambling ban disrupts operations

Geofencing refers to the use of GPS or RFID technology to create a virtual geographic boundary, enabling software to trigger a response when a mobile device enters or leaves a particular area

Kapil Rathee elevated to the position of co-founder of Junglee Games

In 2017, Rathee was promoted to the position of Junglee's chief product officer (CPO) and then to the president in 2018

Epic Games to launch its 'Unreal Editor for Fortnite' on March 22

UEFN works parallel with the game's existing "Creative toolset", and also teams of creators can work together across PC and console to develop and test islands in real-time

India Gaming Show 2023 back offline after 4 years today: Details here

IGS 2023 will have several events like an exhibition, meet and greet, cosplay, product launches, product demonstrations and awards

Players lose progress, in-game money after bug in GTA Online hit accounts

The players of Grand Theft Auto (GTA) Online have reported losing game progress, stealing of in-game money and ban from game servers due to an alleged vulnerability in the PC version of the game

League of Legends, TFT's source codes stolen after cyber attack: Riot Games

Video game developer Riot Games said that the source codes for its popular video games 'League of Legends' and 'Teamfight Tactics', or TFT, were stolen in a recent cyber attack

Cloud gaming platform Google Stadia to shut down operations on Jan 18

Google Stadia, the company's cloud gaming service, will shut down on January 18 after the game failed to gain the traction with users the company had hoped for

State governments to oversee law for online games in their jurisdictions

The states will also be asked to appoint grievance redressal executives and nodal contract executives

TDS guidelines for gaming companies may require greater disclosure

The move is aimed at improving reporting and transparency in these sectors

Indian gaming industry needs stable regulatory environment: Sameer Barde

The industry's worry is the "knee-jerk reaction" of states in regulating the industry, Barde said

Online games with monetary bets likely to have a 'child lock' mechanism

MeitY could also call for formation of a self-regulatory organisation; policy release likely in 2-3 weeks

MPL bans over a million accounts in 2022 to promote fair gameplay

According to the company, these are not temporary suspensions but permanent bans of these users from the system

Indian gamers keen in turning professional, see career growth: Report

Jobs seen as influencers, software developers, animators as industry grows in country