Category: Gaming

WinZo announces selection of 18 gaming startups to represent India at Gamescom, Latam

In addition to the basic rate of 30 percent, a health and education cess at the rate of 4 percent of the amount of tax is levied. Thus the effective tax rate on lottery winnings comes up to 31.2 percent. (Image sourced via Unsplash)

The selected games cover a broad spectrum of genres, from cultural and historical narratives like “Tanhaji – The Maratha Warrior” and “Chola Empire,” to diverse categories, including cricket, mythology, puzzles, racing, physics-based challenges, and chess.

Sony restructures leadership of games business; PlayStation gets Hideaki Nishino and Hermen Hulst as new CEOs

Effective June 1, 2024, Hideaki Nishino will be appointed CEO of SIE’s Platform Business Group, and Hermen Hulst will be appointed CEO of SIE’s Studio Business Group. Hiroki Totoki, who has been serving as interim CEO of SIE, will serve as Chairman of SIE in addition to his role as President, COO and CFO of Sony Group Corporation. Nishino and Hulst will report to Totoki and intend to collaborate closely to strengthen each core business while maximizing synergies at SIE. (From left to right: Hermen Hulst (Gamesindustry.biz) and Hideaki Nishino (PlayStation.blog))

New leadership structure formed at Sony Interactive Entertainment. Hideaki Nishino appointed CEO, Platform Business Group; Hermen Hulst appointed CEO, Studio Business Group.

WinZO to export impact-driven and Indian culture-based gaming tech

In addition to the basic rate of 30 percent, a health and education cess at the rate of 4 percent of the amount of tax is levied. Thus the effective tax rate on lottery winnings comes up to 31.2 percent. (Image sourced via Unsplash)

WinZO’s Bharat Tech Triumph Program (BTTP) is dedicated to exporting Made in India technology, champions homegrown startups by providing vital growth resources such as global exposure, cross-country networks, mentorship, and access to Foreign Direct Investment (FDI).

Pravis acquires a stake in StreamO, an ad-tech gaming platform

Established in 2019 by IITians Anurag Kedia and Gagandeep Makker, Pilgrim is one of the fastest-growing Beauty and Personal Care brands that offers 100+ SKUs across facecare, haircare & skincare products, makeup, and fragrances. The brand’s diverse selection of beauty products is made with ingredients sourced from various parts of the world, all of which are approved by PETA and the FDA, highlighted the company. (Image source: Claudio Schwarz via Unsplash)

This venture is set to explore the substantial business potential of the rapidly growing gaming sector, particularly in engaging the GenZ demographic.

Online gaming industry faces potential 50 percent revenue drop after 6 months of 28 percent GST implementation

In addition to the basic rate of 30 percent, a health and education cess at the rate of 4 percent of the amount of tax is levied. Thus the effective tax rate on lottery winnings comes up to 31.2 percent. (Image sourced via Unsplash)

To weather the storm of a significant revenue drop in the financials for the last six months, among other cost cutting measures, online gaming companies are slashing marketing expenses by over half.