Get the latest tech news
India bans real-money gaming, threatening a $23 billion industry
India is set to ban real-money gaming nationwide under a proposed law that has just passed the lower house of parliament.
The company, however, earlier clarified in a stock exchange filing(PDF) that it has “no direct exposure” to real-money gaming businesses and that these platforms do not contribute to its revenues based on its latest reported financials. Top investors — including Tiger Global, Peak XV Partners, and Kotak — urged Modi to reconsider, warning of $2.5 billion in write-offs and the potential loss of one million jobs. Rohit Kumar, a founding partner of the New Delhi-based public policy firm The Quantum Hub, told TechCrunch that the real problem with the new bill is a lack of due process.
Or read this on TechCrunch
