 "Trivikraman Thampy, co-founder and chief executive officer, Games24x7")
Despite the gaming industry's ongoing battle with the new 28 per cent Goods and Services Tax (GST), gaming unicorn Games24x7 witnessed robust growth in its rummy and fantasy sports businesses in 2023. Nevertheless, the company is experimenting with new business models to improve its margins.
“The new 28 per cent GST on deposits increases our tax burden substantially. From a net revenue perspective, and also profitability, the industry is going to be set back by a couple of years,” Trivikraman Thampy, co-founder and chief executive officer, Games24x7 said to Business Standard.
Regardless, Thampy added that 2023 was a great year
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