Page 9 - Online Gaming

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

EA hikes annual sales outlook as lockdown boost for videogames continues

Videogame sales in the United States hit a record $56.9 bn last year as demand for virtual entertainment soared after public events were canceled to stem Covid-19

Google shuts down its in-house Stadia game development division

Google has announced to shut down its in-house Stadia game development division, as it sees a great adoption of its technology by third-party developers and publishers to create world-class games.

Microsoft surpasses $5bn in gaming revenue for the first time: Nadella

Microsoft has surpassed $5 billion in gaming revenue for the first time in the quarter that ended on December 31, CEO Satya Nadella has revealed.

Regulate all online skill games, not just fantasy sports: Sameer Barde

Sameer Barde, CEO, The Online Rummy Federation, tells Dhruv Munjal that a common regulatory body is a must, while arguing that the negative perception around real-money games in now changing

Online gaming industry urges govt to set up self regulatory body for sector

The online gaming industry on Monday urged the government to set up a self-regulatory body

Playtech sees 2020 ahead of expectations as lockdowns boost gaming

Gambling software maker Playtech said on Tuesday it expects 2020 annual performance to be ahead of expectations, driven by its financial trading arm, and casino, poker, bingo and betting businesses

Google's cloud gaming service Stadia to be available on LG smart TVs

LG Electronics on Tuesday said Google's cloud gaming service will be available on its smart TVs as the South Korean tech powerhouse eyes to expand its TV sales with better service offerings

Coding errors, bugs that caused absurd online gaming gaffes in 2020

Coding errors are usually the stuff of nightmares for game developers

Google Stadia Pro gets Figment, F1 2020, among five new games

Google's game streaming platform Stadia has received five new games to its collection as part of Stadia Pro

Casual, fantasy, pro: 2020, a year when online gaming hit the jackpot

The numbers were driven by an increase in mobile phone usage as well as greater internet penetration

No Fortnite World Cup in 2021, online events are on: Epic Games

Epic Games has announced that like this year, there will be no in-person events in 2021, including a Fortnite World Cup, as the pandemic refuses to slow down

MIB issues advisory against misleading advertisements on online gaming

As per the ASCI guidelines, no gaming advertisement may depict any person under the age of 18 years engaged in playing an online game for real money winnings

VC investments in online gaming start-ups hike 114% to $376 mn in 2020

According to reports, online gaming companies have risen up to 275 in 2019