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Games 24×7 Lays Off 100+ Employees

Games 24×7, one of the oldest gaming brands, has laid off more than 100 employees, reducing the number to around 800. According to reports, the sackings took place over multiple days and departments. Social media chatter says that the ex-employees were given two to four months’ salaries.

One account posted that the laid-off individuals were given just fifteen days to speak to their ex-colleagues. The company has sacked more than 20% of its workforce. The company has several interests in the real-money gaming market, including My11Circle, RummyCircle, and Wowzy.

According to news reports, some individuals have said that the layoffs happened because the company had overhired during a previous expansion. Rumours are that people who were working with the company for more than a decade have been sacked.

The real-money gaming industry has been under the scanner for several years, and the current sackings are suspiciously close to the timeline of the 28% GST court case. A few years ago, when the Indian Government slapped a 28% GST charge on deposits, several layoffs happened, and some companies completely shut down.

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ALSO READ: Gaming in India – The Rise of a New Billion-Dollar Economic Powerhouse

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Currently, the government and the Indian gaming industry are battling for a decision in the Supreme Court. The Government contends that it doesn’t matter whether real-money gaming is a matter of skill or not, and if there’s any money component, the transaction should attract GST.  

Only some states in India legalise live gaming, while others are actively looking to ban the offline version of the game altogether. The RMG versions of popular online games aren’t available on the Google Play Store, so downloading the apps on a mobile device is difficult.

Of course, this is in stark contrast with the way poker is becoming mainstream in India, with media behemoths like Reliance live-streaming the Poker Sports League. Poker became closer to the mainstream spotlight with the Founder Poker Series, which had the Founders and CEOS of startups playing poker in a tournament series. Other Asian countries like Vietnam and Malaysia are becoming the biggest hubs for poker. 

Gutshot Magazine will keep you updated on any other developments on this story. We offer all the news and updates on real money gaming and the poker industry, from poker tournament itineraries to winners lists to interviews with some of the biggest names in the industry. We also keep a tab on any federal and corporate decisions that might impact the industry. To know more, keep reading us!

 

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