Gaming app MPL to sack 60% of India staff after real-money gaming ban, source says

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Indian online gaming app Mobile Premier League (MPL) will sack about 60% of its local workforce as part of a major downsizing after the government banned paid games, said a company source with knowledge of the plan, in the first such reaction to a new law.

Prime Minister Narendra Modi’s government this month banned online paid games, citing financial and addiction risks especially among youth, leading to a shutdown of many gaming apps offering paid fantasy cricket, rummy and poker games.

The law shocked an Indian industry backed by venture capital…



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Gaming app MPL to sack 60% of India staff after real-money gaming ban, source says



Indian online gaming app Mobile Premier League (MPL) will sack about 60% of its local workforce as part of a major downsizing after the government banned paid games, said a company source with knowledge of the plan, in the first such reaction to a new law.

Prime Minister Narendra Modi’s government this month banned online paid games, citing financial and addiction risks especially among youth, leading to a shutdown of many gaming apps offering paid fantasy cricket, rummy and poker games.

The law shocked an Indian industry backed by venture capital…



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.

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