New Delhi, Aug 31 Online gaming platform Mobile Premier League (MPL) is going to significantly downsize its team in India, after the money games were banned under the new Online Gaming Bill.
According to an internal email sent by MPL CEO Sai Srinivas to employees, “with a heavy heart, we have decided that we will be downsizing our India Team significantly."
The email further said that “We are committed to providing those impacted with every possible support during this transition period.”
“India accounted for 50 per cent of M-League's revenues and this change would mean that we would no longer be making any revenue from India in the near future," the CEO said in the email
MPL did not immediately commented on the reports. The company also did not specify the number of employees being affected.
MPL and another online gaming major Dream11 have decided not to pursue legal challenges against the Online Gaming Bill.
The Online Gaming Bill highlights the government’s commitment towards making India a hub for gaming, innovation and creativity.
The Promotion and Regulation of Online Gaming Bill, 225, passed by the Parliament, takes a balanced approach -- promoting what’s good, prohibiting what’s harmful for the middle-class and youth.
There are three segments of online games -- e-Sports (training-based, often played between teams); Online Social Games (fun, educational, community-based), and Online Money Games (involve financial stakes, addictive, and harmful.
Just like cricket or football, e-Sports require strategy, reflexes, and teamwork.
"The Bill gives legal recognition to e-Sports. The government will launch schemes and programmes to promote them," according to Union Minister Ashwini Vaishnaw.
The government will support game makers and creators – part of India’s creator economy and software growth.
"Online Money Games are prohibited. Youth and children addicted, families ruined. Massive fraud, credit card debt, even suicides. Money laundering and terror financing concerns. Misleading celeb ads giving false legitimacy," the minister highlighted.
He further stated that crores of families have been destroyed by online money games, and middle-class savings have been wiped out.
Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor