Developer of Raiders SIX, Starlight Gaming, is planning to make investments of $10 million for marketing and operations in India. With the release of their games, the Taiwan-based developer plans to retain its presence in Indian gaming industry. Raider SIX was originally developed in Taiwan, and while it is based on a completely free-to-play model, […]
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In a recent interview today, Minister of State for Electronics & Information Technology Rajeev Chandrasekhar stated that he might request the GST Council to reconsider its decision to levy 28% tax on online gaming. He explained that the decision to apply the tax at full face value was suggested by all the state governments that […]
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Online poker platform Adda52 has announced the 14th edition of the Deltin Poker Tournament (DPT), set to take place from July 18 to 24, at Deltin Royale in Goa. The Deltin Poker Tournament is hosting players from India and southeast Asia and, as per the company, is the longest-running offline poker competition in the nation. […]
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Secretary General of Confederation of All India Traders (CAIT), Praveen Khandelwal, has addressed a letter to the Prime Minister on behalf of CAIT listing the catastrophic implications of changes to GST on online gaming made by the GST council. The letter focused on the points previously mentioned by the online gaming companies in their open […]
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With recent changes in the GST on online gaming, casino and horse racing, the Govt of Maharashtra has decided to legalize the operation of casinos in the state. This decision comes after a reported increase in tax revenue for the state department. The bill will be presented in the upcoming Monsoon session of the parliament […]
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Gaming News
28% GST on online gaming to severely impact fintech and regulatory tech industries’ revenues
While the 28% GST rate on full face value amount has dealt a heavy blow to the online real-money gaming industry the knock-on effect is also likely to be seen on the fintech and regulatory tech industries which provide payment processing and KYC services respectively. According to some experts the new tax policy will increase […]
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In a last-ditch effort to stop the implementation of 28% GST rate on full face value amount for online games, executives from top real money gaming companies have now sought a meeting with government officials this week. The companies believe that with the new GST rate, the size of the real money gaming industry will […]
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Gaming News
IPO bound Yudiz Solutions Limited to spend around 12.3 Cr on acquisition and expansion drive
A fortnight prior to its IPO, a blockchain, AI, and gaming-focused enterprise solutions technology company is looking to strengthen its core offerings by looking at acquisitions across India, the USA, Canada and Europe. The company will be spending Rs.12.31 crore from the total proceedings aggregating for acquisitions and expansion. Bharat Patel, Chairman and Director, said, […]
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Raipur Police have achieved yet another breakthrough in the ongoing action against illegal betting app Mahadev Book. Recently, the police arrested seven individuals from Kolkata and Bhilai for taking illegal bets on various sports events. The police received a tip-off about people taking illegal bets using the Mahadev Book app and acted on the same […]
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In the first Test match being played between Sri Lanka and Pakistan at Galle, several surrogate brands for illegal betting websites featured in adverts at the venue. The adverts seem to be restricted to boundary ropes and other on-ground brand placements, and aren’t promoting during over and innings’ break during the live broadcast. FairPlay, MELBAT, […]
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