China’s Tencent has bought a 14.6 percent stake in Glu Mobile for $126 million. Call it the Kardashian effect, as the mobile game publisher struck gold last year with Kim Kardashian: Hollywood, a game that has the endorsement of reality TV celebrity Kim Kardashian.
Insider Gaming writes: "In recent hours, some of the biggest gaming corporations in China suffered from sizeable tumbles in their shares as the National Press and Publication Administration published a draft of guidelines aimed at clamping down on spending in online games.
This action saw Tencent’s share value plummet by around 16%, with a loss of around $54 billion, while NetEase’s value collapsed by almost 30%."
To bad for recent, nothing but bad shyt coming out for tecent and embracer. The people that hates them got what they want. I understand why China did this for each one listed. Still daily rewards be nice though either way doesnt effect me I don't think i played tencent games that I know of. (Random empty tencent folder on phone) still curious where that came from though.
Curious if anyone thinks this is a good thing. Yeah we dislike microtransactions and gambling loot boxes, but do we want governments telling us what's good for us and what we can or can't have
Tencent has confirmed to TechRaptor that its AAA studio Team Kaiju has been shut down, while its unannounced AAA game has been canceled.
The court docs from the Epic vs. Google court case have revealed that Google once thought about teaming up with Tencent to buy Epic Games.
Last thing we need is Tencent having that big of a presents globally in gaming, especially with Google.