RMG ban sparks massive impairments as gaming majors erase India bets

Share via:


Gaming companies have reported sizeable write-downs on their India-linked assets for the September quarter, underscoring the sharp impact of India’s real-money gaming (RMG) ban on corporate earnings.

Although the RMG ban has been in effect since August, the latest earnings cycle marks the first significant balance sheet impact beyond the immediate shutdown of cash gaming operations.

US-headquartered Flutter Entertainment booked an impairment of $556 million this quarter after its India unit, Junglee Games, halted money-based rummy…



Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

Popular

More Like this

RMG ban sparks massive impairments as gaming majors erase India bets


Gaming companies have reported sizeable write-downs on their India-linked assets for the September quarter, underscoring the sharp impact of India’s real-money gaming (RMG) ban on corporate earnings.

Although the RMG ban has been in effect since August, the latest earnings cycle marks the first significant balance sheet impact beyond the immediate shutdown of cash gaming operations.

US-headquartered Flutter Entertainment booked an impairment of $556 million this quarter after its India unit, Junglee Games, halted money-based rummy…



Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

Website Upgradation is going on for any glitch kindly connect at office@startupnews.fyi

More like this

No iPhone 18 Launch This Year, Reports Suggest: Apple’s...

Apple is not expected to launch an iPhone 18...

GPU crisis hits Japan as RTX 5060 Ti and...

Based on a machine translation, a January 10 report...

Popular

iptv iptv iptv