250°

Tencent Loses $54 Billion as China Airs New Online Gaming Rules

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%."

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insider-gaming.com
blackblades156d ago

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.

rlow1155d ago

It’s called a communist government that kills people on a large scale. Has what is the equivalent of a concentration camp for minorities. Does anything have to make sense when it come to gaming? Not at all.

Eonjay155d ago

Okay... for everyone else out there the this is actually a good thing and we would appreciate it if other market authorities used their power to protect consumers. The reason why this is so 'devastating' is because so much of the video game market has changed to rely on these profits.

*Online games must set spending limits
*Online games must ban daily login rewards
*Players who stream their games must not be able to receive large tips
*Probability-based luck draws must not be offered
*Online game approvals must be processed by regulators within 60 days of publishing

China got this right.
Take gambling out of gaming! Stop promoting addictive that largely target children.

You have to be able to recognize the bad things and the good things when analyzing an entity (like China or anyone else) or else you are degraded yourself. If you can't use critical thinking, anyone with malicious intent can pull the wool over your eyes. If this is you worry not, you can always take steps to improving your reasoning and critical think skills!

INMATEofARKHAM155d ago

Tencent owns more than just mobile games. They own the majority of Grinding Gear Games (Path of Exile), owns 40% of Epic Games (Fortnight, Rocket League), and outright owns Riot Games (League of Legends).

I'm sure there's others I'm not thinking off right now.

BeRich233155d ago

Pubg mobile is a tencent game

Palitera154d ago (Edited 154d ago )

It means a loss of value for big corporations, but it’s plain bankruptcy for tons of smaller developers.
Not saying it was a wrong move, but you’re all cheering that big corporations got screwed and ignoring the huge impact it has in the studios whose business plans (thus jobs) vanished in thin air.

+ Show (1) more replyLast reply 154d ago
crazyCoconuts156d ago

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

blackblades156d ago

No, buts its china and thats a Chinese company.

Falloutxii155d ago

In this case yes. Stop getting kids addicted to gambling.

EvertonFC155d ago

Was it gambling when us kids bought panani football sticker packs back in the 80S not knowing what was in the pack ?
Should we ban chocolate for kids cause it's addictive or anything with sugar in it ?

Gamingsince1981155d ago

@everton

Yeah it was, but it was a little different back then because nobody cared or knew mostly. Also kids weren't stealing parents credit cards to buy sticker packs , because they weren't expensive, you could buy a bunch for a couple of pounds, they were also real items not digital crap that goes away as soon as servers go down, the digital stuff now are macrotransactions, and they only keep going up in price as companies get away with more. I hope it gets banned on all countries.

156d ago Replies(2)
Demetrius155d ago

Damn and recently they bought techland tho

TheColbertinator155d ago

Unfortunate. Them and CDPR were the most promising studios to come out of Europe in the last 20 years.

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70°

Limited Run Games reveal physical console editions of Clock Tower: Rewind

Love survival horror? Love physical editions of games? Limited Run Games have got your back as they reveal a physical collection for Clock Tower: Rewind on Xbox, Switch, PlayStation and PC.

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thexboxhub.com
Hugodastrevas2d ago

Still waiting for the physical release of Tomba!

150°

10 Biggest Xbox Mistakes of All Time (So Far)

The Xbox brand has done a lot of good over the years, but their various blunders are pretty wild to look back on in their magnitude.

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culturedvultures.com
piroh2d ago (Edited 2d ago )

Ironically number 9 can save them at this point (releasing games on multiple platforms)

ChasterMies23h ago

By “save them” you mean make more profit for Microsoft. Xbox will still be a dying hardware platform.

OtterX1d 11h ago

You could add the naming scheme for the consoles, it just confuses customers. I know they wanted to avoid traditional numbering bc it would always be lower than their competitor, but this whole 360 then One then Series thing is confusing af. Imagine a Soccer Mom trying to figure this stuff out. I still mistakenly call the Series X the One from time to time on accident.

RNTody1d 11h ago

Don't forget about the Xbox One, Xbox One X and Xbox Series X! Good luck to Soccer moms around the world.