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Top related persons:
Aditya Kalra - 3 MPL - 2 Aftab Ahmed - 2 Richard Hughes - 1 “ We've - 1 ” - 1 Hughes - 1 Sai Srinivas - 1
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DELHI India Sequoia Capital India ALBUQUERQUE N.M The The New Mexico Santa
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Search resuls for: "Indian Gaming"


9 mentions found


☆ Indian gaming company Nazara Technologies pledges $100 million for global expansion
  + stars: | 2024-03-18 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailIndian gaming company Nazara Technologies pledges $100 million for global expansionNitish Mittersain, CEO of Nazara Technologies, says "we see significant opportunities in scaling up through acquisitions."
Organizations: Nazara Technologies
☆ New Mexico Supreme Court Rules Tribal Courts Have Jurisdiction Over Casino Injury and Damage Cases
  + stars: | 2024-01-16 | by ( Associated Press | Jan. | At P.M. | ) www.usnews.com   time to read: +2 min
The state Court of Appeals had reversed a lower court ruling that initially called for the case to be dismissed. One of those federal cases involved a personal injury claim involving the over-serving of alcohol at Santa Ana Pueblo's casino. The other was a slip-and-fall lawsuit brought in state court by a visitor to the Navajo Nation's casino in northwestern New Mexico. Those who have advocated to have state courts hear personal injury cases contend that the people suing tribal gambling operations could face an unfair disadvantage in tribal court. Some experts expect personal injury lawyers to opt for arbitration before heading to tribal court, but Hughes said tribal courts are “perfectly competent to handle cases like this in a very fair and equitable fashion.”
Persons: Richard Hughes, “ We've, ”, Hughes Organizations: The New, Native, Appeals, Santa Ana, Navajo, Associated Press, Indian Gaming Locations: ALBUQUERQUE, N.M, The, The New Mexico, Santa, New Mexico, Santa Ana, Santa Clara
☆ Indian gaming platform MPL to lay off 350 employees to "survive" after govt tax - memo
  + stars: | 2023-08-08 | by ( Aditya Kalra | Thomson Reuters | Aditya Kalra Is The Company News Editor For Reuters In India | ) www.reuters.com   time to read: +1 min
NEW DELHI/BENGALURU, Aug 8 (Reuters) - Indian gaming app Mobile Premier League will lay off 350 employees as it takes steps to "survive" a tax imposed by the Indian government on online gaming companies, according to an internal memo seen by Reuters on Tuesday. The move comes on the back of the government's decision last month to impose a 28% tax on funds that online gaming companies collect from customers. The new rule will increase the company's tax burden by 350%-400%, MPL CEO Sai Srinivas said in the memo, adding that the company is revisiting expenses related to their server and office infrastructure. The source could not be named as they are not authorised to speak to the media. Reporting by Aditya Kalra; Additional reporting by Biplob Kumar Das and Ashish Chandra; Editing by Sonia CheemaOur Standards: The Thomson Reuters Trust Principles.
Persons: Sai Srinivas, Srinivas, MPL, Aditya Kalra, Biplob Kumar Das, Ashish Chandra, Sonia Cheema Organizations: NEW, Mobile Premier League, Reuters, Thomson Locations: NEW DELHI, BENGALURU
☆ Global investors tell Modi plans to pump in $4 bln at risk due to gaming tax
  + stars: | 2023-07-21 | by ( Aditya Kalra Nikunj Ohri | Aditya Kalra | Nikunj Ohri | ) www.reuters.com   time to read: +2 min
NEW DELHI, July 21 (Reuters) - Tiger Global, Peak XV and Steadview Capital are among 30 foreign and domestic investors asking Indian Prime Minister Narendra Modi to review a 28% gaming tax, saying the levy would adversely impact $4 billion in prospective investments, a letter showed. India last week announced the tax on the funds that online gaming companies collect from their customers. Games such as fantasy cricket have become increasingly popular in recent years, but have also raised concerns about addiction among players. Tiger Global and Peak XV, previously known as Sequoia Capital India, have invested in Indian gaming companies such as Dream11 and Mobile Premier League. Over 100 gaming firms wrote a letter recently to the finance ministry with a similar request, saying the tax will stifle foreign investment and put $2.5 billion already invested in the sector at risk.
Persons: Narendra Modi, Aditya Kalra, Chris Thomas, Tanvi Mehta, Savio D'Souza, Kim Coghill, Muralikumar Organizations: Tiger, Steadview, Indian, Reuters, Tiger Global, Sequoia Capital, Mobile Premier League, Thomson Locations: DELHI, India, Sequoia Capital India, New Delhi
☆ Indian gaming firms say new tax will stifle foreign investment
  + stars: | 2023-07-15 | by ( Aftab Ahmed | ) www.reuters.com   time to read: +2 min
NEW DELHI, July 15 (Reuters) - India's new 28% tax on online gaming companies will stifle foreign investment and put $2.5 billion already invested in the sector at risk, more than 100 gaming firms have said in a letter to India's finance ministry. India this week announced the tax on the funds that online gaming companies collect from their customers. Games such as fantasy cricket have became increasingly popular in recent years, but have also raised concerns about addiction among players. Top investors including Tiger Global and Peak XV, previously known as Sequoia Capital India, have invested in Indian gaming companies such as Dream11 and Mobile Premier League. Many Indian ministers view bets on online gaming platforms as a "social evil", Malhotra had said.
Persons: MPL, Sanjay Malhotra, Malhotra, Arpan Chaturvedi, Aftab Ahmed, Aditya Kalra, David Holmes Organizations: Tiger Global, Sequoia Capital, Mobile Premier League, Federal, Reuters, Indian Premier League cricket, Thomson Locations: DELHI, India, Sequoia Capital India
☆ India hits online gaming industry with 28% tax
  + stars: | 2023-07-11 | by ( Nikunj Ohri | ) www.reuters.com   time to read: +1 min
International investors have also been drawn to the industry, with Tiger Global backing Indian gaming startup Dream11, the lead sponsor of India's national cricket team. India's Finance Minister Nirmala Sitharaman, who chairs the goods and services tax (GST) council, comprising state finance ministers, said the decision to tax online gaming was reached after extensive discussion. "The implementation of a 28% tax rate will bring significant challenges to the gaming industry. This higher tax burden will impact companies' cash flows," Aaditya Shah, chief operating officer at the gaming app IndiaPlays, said. Roland Landers, CEO of The All India Gaming Federation, said the decision was "unconstitutional (and) irrational".
Persons: Dado Ruvic, Nirmala Sitharaman, Shah, Roland Landers, Sudipto Ganguly, Aftab Ahmed, Mark Potter, Jane Merriman, Barbara Lewis Organizations: REUTERS, Tiger Global, national cricket team, India's, Industry, The, India Gaming Federation, Thomson Locations: DELHI, India
☆ North Carolina Tribal Casino Violated Federal Gaming Laws, Regulators Say
  + stars: | 2022-12-07 | by ( Mark Maremont | ) www.wsj.com   time to read: 1 min
A North Carolina tribal casino violated federal law by allowing deep-pocketed outsiders excessive control over the facility’s expansion, according to the findings of an investigation by the National Indian Gaming Commission made public Wednesday. The NIGC, which has regulatory authority over tribal casinos, issued a formal “Notice of Violation” against the casino and various outside backers of the project, saying the investigation found multiple violations of federal Indian-gaming laws.
☆ Results: California Proposition 27: Voters say no to legalizing sports gambling with revenue going toward social causes
  + stars: | 2022-11-17 | by ( Taiyler Simone Mitchell | Tim Paradis | ) www.businessinsider.com   time to read: +3 min
California Proposition 27 would have legalized sports betting and given proceeds to social causes. Proposition 27's revenue would have been allocated to provide resources to address homelessness, mental health issues, and addiction. It was different from Proposition 26, another gambling proposition on the ballot that also failed. Support and oppositionCalifornians for Solutions to Homelessness and Mental Health Support led the campaign in support of Proposition 27. It would provide an ongoing funding source of hundreds of millions of dollars each year to fight homelessness and provide mental health services to those most in need.
☆ California Proposition 27: Voters will decide on legalizing sports gambling with revenue going toward social causes
  + stars: | 2022-11-06 | by ( Taiyler Simone Mitchell | ) www.businessinsider.com   time to read: +3 min
California Proposition 27 would legalize sports betting and give the proceeds to social causes. Ballot measure detailsKnown as the Legalize Sports Betting and Revenue for Homelessness Prevention Fund Initiative, Proposition 27 would legalize online sports betting across the state, according to the state's Legislative Analyst Office. Proposition 27's revenue would be allocated to provide resources to address homelessness, mental health issues, and addiction. Californians for Tribal Sovereignty and Safe Gaming and Coalition for Safe, Responsible Gaming are campaigning against the proposition. More than 60 tribes oppose Proposition 27, saying it would take away from their business, KFSN reported.
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