Page 16 - Online Gaming

China tells gaming firms Tencent, Netease to end 'solitary' focus on profit

Tencent, the country's largest gaming company, dived as much as 6.7%, on track for its biggest fall since July, while smaller rival Netease fell as much as 7.7%.

South Korean video game firm Krafton bets big on India opportunity

Krafton has inv­e­sted in In­d­ian e-sports and gaming firm NODWIN Gaming ($22.5 million) and gaming platform Lo­co ($9 million)

Airtel conducts cloud gaming session on 5G as part of ongoing trials

Telecom operator Bharti Airtel on Thursday said it has successfully conducted India's first cloud-gaming session in a 5G environment. The demonstration was conducted in Manesar, Gurgaon, as part of the ongoing 5G trials, using spectrum allotted by the Department of Telecom, the company said. Speaking to reporters at a virtual briefing, Randeep Sekhon, Chief Technology Officer (CTO) of Bharti Airtel, said mobile gaming is a new phenomenon and gaining popularity. Cloud gaming will be one of the biggest use cases of 5G, given the combination of high speed and low latency, he added. "This is just the beginning of an exciting digital future that Airtel will enable for its customers as we prepare to roll out 5G in India," Sekhon noted. Cloud gaming enables users to stream and play games in real-time without having to download these or invest in gaming hardware. With the advent of 5G networks, cloud gaming is expected to become the "new normal" as users would be able to experience high-

China slashes kids' online gaming time to just three hours a week

The escalating restrictions on Tencent's biggest business are likely to spook investors that had cautiously returned to Chinese stocks in recent days

Online gaming gets court relief in TN but there may be other legal battles

Relief by the Madras High Court on the Tamil Nadu government's ban comes as a booster dose for the Rs 7,700-crore online gaming industry but could be a precursor to legal battles in other states

Billion-dollar online gaming industry seeks clarity on valuation, taxation

The industry has now come out with a report to make a case for itself, and put forth the matter of taxing the business

Madras HC quashes Tami Nadu law banning online games like rummy and poker

A two-judge bench said complete ban is disproportionate and irrational, adds that govt can still introduce an appropriate law that conforms to Constitutional principles of propriety

Facebook Cloud gaming sees 1.5 mn users a month, expanding to more regions

Over 1.5 million people are playing cloud-streamed games on Facebook Gaming every month and the social network has announced to roll out Cloud gaming in Canada and Mexico

Homegrown game streaming platform Loco raises $9 million in funding

Loco, an Indian game streaming platform, on Monday announced that it has secured USD nine million for its first round of fundraising as an independent company.

Indian online gaming segment expected to reach Rs 29,000 cr by FY25: Report

The Indian online gaming segment is expected to more than double at Rs 29,000 crore with the number of gamers rising to 65.7 crore by financial year 2025, a KPMG report said on Thursday. The report estimates that the online gaming market size was around Rs 13,600 crore with 43.3 crore gamers in financial year 2020-21. Of Rs 13,600 crore, the casual gaming segment accounted for Rs 6,000 crore and it is expected to grow to Rs 16,900 crore in next four years, according to the report. "The online casual gaming sub-segment in India has emerged as the largest in terms of consumption amongst overall online gaming, with close to 420 million gamers engaging in online casual gaming in FY21. Both consumer spends and advertising based monetisation, which is unique to India, are likely to see strong traction," KPMG India, partner and head for media and entertainment, Girish Menon said while sharing details of the report. He said that high priced gaming consoles and charges in games are inhibiti

Online gaming industry to worth Rs 29,000 crore by FY25, says KPMG

Overall growth in digital consumption sophistication has helped online gaming become a mainstream entertainment option.

Microsoft unveils Xbox Series X-shaped mini fridge during gaming conference

While announcing new games for Xbox fans during the E3 2021 virtual gaming conference, Microsoft has also unveiled the first look of a cool Xbox Series X-shaped mini fridge.

76% enthusiasts say online gaming helps develop analytical skills: Report

Why they play: 26% see online games as stress busters, 24% think they are money spinners, one in seven seek to hone key skills and improve cognitive ability

Despite suspension of IPL, game on for fantasy sports platforms

The suspension of the IPL put them on a sticky wicket; its resumption has them feverishly working to keep users engaged and improve their offerings

Panel to examine valuation of services by casinos, online gaming for GST

The government has set up a panel of state ministers

Skill vs chance: Taxman the referee in online gaming, say experts

Rate at which winnings are taxed depends on level of skill applied and whether there is 'luck' involved

Indian gamers spend more than eight hours a week playing: Report

Indian gamers spend more than eight hours and 36 minutes each week playing, according to a report by Limelight Networks Inc

Gaming sector in India attracted investments worth $544 million: Report

The gaming sector in India attracted USD 544 million in investments during August 2020-January 2021 period, and this is set to double over the next 12-18 months on the back of higher user awareness and accelerated engagement, as per a report by Maple Capital Advisors. With more than 400 million gamers, a plethora of investors are looking to deploy funds in the sector, and with over 15 per cent of the global gaming traffic, Indian gaming market is at an inflexion point. "We believe gaming is now at an inflexion point with greater investment and consumer traction. With growth-oriented private equities now participating and the first meaningful IPO around the corner, gaming is poised to attract greater capital across stages, and we expect increased cross-border M&A," Maple Capital Advisors founder and MD Pankaj Karna said. He added that the investments are expected to double in the sector in the next 12-18 months. "Consumer traction (15 per cent of global traffic) on the back of ...

Fortnite creator Epic Games acquires 'Fall Guys' developer Mediatonic

Fortnite developer Epic Games has acquired video game studio Mediatonic, the maker of popular Fall Guys game, for an undisclosed sum.

Octro expands business overseas, says ban on game helping foreign firms

Online gaming company Octro has started expanding its business overseas after traction in its casino and card games, namely PlayRummy and Teen Patti, according to a senior company official. The firm's Chief Marketing Officer Manav Sethi said the move of some state governments to ban online gaming is helping gaming companies that are registered outside India. "By March of 2021, we would start the user acquisition for international markets," Sethi told PTI. He claimed that the company has seen 100 per cent growth year-on-year, and its revenue is in three digits of crore on Indian currency. Octro owns online games including PlayRummy, Teen Patti, Indian Rummy, Tambola and Soccer Battles. The company's card games involve real monetary transactions that it calls a game of skills. "We have gotten growth on these sides, basically the card and casino side. We have also seen some success on the real money gaming side. So, why don't we take these IPs (internet protocol) international. "Tha