Consultant

I think govt. won't back out from this policy. As a result, companies would have to think to build margins after accounting for this change. Sadly layoffs would be their choice of action as well. As pivoting business this huge is difficult. Layoffs are easy.

Growth Manager

Customer Success

Welcome to News Discussion's Private Community

After 28% GST, what’s the scene like in the offices of fantasy gaming offices?

Software Engineer

After 28% GST, what’s the scene like in the offices of fantasy gaming offices?- Grapevine

Welcome to Indian Startups's Private Community

Folks at Dream 11, Games24×7, Junglee, etc how's the environment in the office? Have there been any updates from the leadership regarding the direction they'd be taking? 
As of now, here at Gameskraft it's an elephant in the room with everybody in denial, talking about how we can still survive and no updates from leadership yet.

Thoughts on 28% GST for online gaming?

I’m from a esports gaming company. Spoke to my CEO regarding this today morning.  
  
 This move is completely short sighted and reinforces how bad policymakers are in our country. This might kill small companies in the short/medium term altogether.  
  
 Gaming companies based out of India that were looking to raise funding will have the hardest time doing so going forward. 28% GST + income tax on the company end. ₹100 deposited directly being reduced ₹72 in your account. The government ends up earning almost 50% from players AND the company.  
  
 I’m seeing boomers applaud this move as they want the new generation to “focus more on less time wasting activities”, but they don’t know anything about the numbers of the gaming industry outside of India. Indian esports and gaming is just at the beginning of its rise. This move sets it back in terms of investment and revenue heavily.  
  
 Luckily, we’ll have an entity setup in the UAE soon, and that entity will in a few months become the holding entity, with the Indian entity being a subsidiary. Many more companies will do this, and the government will see how this increase in taxes backfires because companies will just create holding entities outside of India :)

Product Head

Product Manager

Online gaming startups are among those rare breeds which were profitable . With this move, even they will be forced to do layoffs..

28% GST on online gaming. Tough times for dream11, mpl etc

Centre has decided to impose 28% gst on Online gaming. How will companies like Dream11, Games2win, Nazara etc pivot now?

Management Consultant

40,000Cr to Dream11
20000Cr to GamesKraft
16,000Cr to Deltacorp

This will be a major blow to the online betting industry. All the top companies have taken a major hit. Will be interesting to see how they recover from it. Deltacorp shares already down 18% today!

Central Board of Indirect Taxes and Customs is likely to send show cause notices to over 40 skill-gaming companies for alleged tax evasion after the Supreme Court stayed a Karnataka High Court judgment

Dream11 parent approaches Bombay High Court challenging GST evasion notice

40,000Cr GST notice to Dream11

Should Target Astrology startups as well those are just as dumb-predatory-addicive as online gambling

Founder

Dream11 - 40k Cr Tax notice

Anyone a fan of Conspiracy Theories?

Analytics Manager

Hey viners
Not heard a lot about gaming startups after the first 2-3 weeks of that new GST rule. How are the gaming startups like Dream11, Games24, Junglee, Zupee doing?
Has there been in shift in revenue model?

Gaming Startups post GST rule

My friend was supposed to join MPL but his offer got rescinded. I also heard they’ll start laying off soon. 
Can anyone shed some light on this? 

Because I was planning on taking a role there as soon as my friend joined in.

Heard they have awesome work life balance + free food + frequent parties etc etc.

Layoff at MPL?

Project Manager

A real money fantasy gaming company based in navi mumbai is all set to lay off more than 70% of its workforce. The employees have already been told to start searching for jobs elsewhere. Layoffs will begin  post October. 
They will most probably put the employees on pip before termination.

Layoffs at a growing Fantasy gaming company based out of Navi Mumbai

There’s no way they can foot the retrospective GST tax dues to the. Government. What next for them ? Dream 11 is Ambani safe haven - will it somehow get saved. ?

Are Indian fantasy gaming and betting apps going to die?

Digital Accessibility Technologist

SAHARA sponsored India : Sahara went bankrupt, & the owner went to Jail.

OPPO sponsored India : Oppo got boycotted by Indians, Declined.

STAR sponsored India : Lost all major rights to Jio and Sports 18.

BYJUS sponsored India : incurred huge losses, got exposed , had to lay off employees.

DREAM 11 is sponsoring India : 28% GST applied, got tax evasion notice of 40,000 crores

Conclusion?🏃

Cloud Consultant

Looks like the gaming federation is trying really hard to lobby government and get the decision reversed. Any thoughts?

Earlier this week, the 50th GST Council meeting decided that a 28% GST will be levied on the full face value of online gaming.

Nazara, Winzo, and others write to govt to protest 28% GST on ‘online skill gaming’

Analyst

Welcome to Office Gossip's Private Community

Happy friday folks!

Starting off with the Watercooler - the place for all casual conversations and thoughts that might feel too small to make a post out of :) 

Look forward to hearing from you folks!

Daily Watercooler (21st July)

Today mass layoff was done from Third Unicorn
Devs, IT team, devops all were impacted 

Layoffs in such early phase startup came as a shock

Could be due to new GST rules

What do you guys think?

Mass layoffs at Ashneer ‘s latest startup

Director of Engineering

From what I hear from a friend who is aware of the leadership discussions, MPL might be looking to lay off close to 50% of its workforce and shut down most of its other BU’s to consolidate by October. This would include folks even till the SVP levels. This might be one of the first pins to fall with the 28% GST rule kicking in by October. Dark days ahead for online RMG  industry in India

Massive layoffs coming up at MPL

companies like MPL should not exist in the first place. Why promote gambling?. not for any moral reasons,  if someone wants to gamble, let them go to a casino and do it. Instead, making it easier for some one to gamble at  any time/anywhere is unacceptable.

Becoz of GST many companies are pivoting or changing gaming algo to make players loose to pay GST. Game of chances are being launched

1. MPL , Launched betting games 
2. Zuppee , teen patti and betting games 
3. Games craft , rummy circle rigged card distribution
4. Tradex , Probo Mostly will shut down 
5. Rummy apps , Better opinion , tamasha and other small companies are planning to shut down RMG part
6. Nazara acquired RMG companies are unable to operate 
7. Octro is closing the RMG app. 

What more ? If anyone knows do share up.

RMG (Real money Gaming) companies going dead

Hoping they all close ASAP. 28% GST  is not enough. It should be higher at 50%.

Westerners used Internet and computing to design better planes and build better engines, our guys are using it to play cards.

After 28% GST, what’s the scene like in the offices of fantasy gaming offices?

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