Connect with us
Prague Gaming & TECH Summit 2024

Latest News

Wyoming Lawmakers Resurrect the Plan to Establish a State Gambling Commission

Published

on

Wyoming Lawmakers Resurrect the Plan to Establish a State Gambling CommissionReading Time: 1 minute

 

Wyoming lawmakers have resurrected the plan for establishing a state gambling commission.

The Legislature’s Joint Travel, Recreation and Cultural Resources Committee had nixed the idea of a regulatory body to oversee everything from poker games to sports betting.

The state Pari-Mutuel Commission is currently overseeing gambling in Wyoming and regulates only horse racing. Horse racing accounts for roughly $12 million in state and local taxes annually.

Republican Sen. Ogden Driskill made a Management Council motion to form a task force to examine expanding the commission’s oversight.

A similar proposal failed in the Legislature this year. Driskill says Wyoming is not currently regulating gambling “and doing nothing is going to lead to bad results.”


Source: Latest News on European Gaming Media Network
This is a Syndicated News piece. Photo credits or photo sources can be found on the source article: Wyoming Lawmakers Resurrect the Plan to Establish a State Gambling Commission

George Miller (Gyorgy Molnar) started his career in content marketing and has started working as an Editor/Content Manager for our company in 2016. George has acquired many experiences when it comes to interviews and newsworthy content becoming Head of Content in 2017. He is responsible for the news being shared on multiple websites that are part of the European Gaming Media Network.

Latest News

Hisense Group Sponsors China’s King Pro League

Published

on

Reading Time: < 1 minute

 

Chinese multinational appliance and electronics manufacturer giant Hisense Group Holdings (Hisense) announced on Thursday that it has signed a sponsorship deal with China’s top Honor of Kings competition – the King Pro League (KPL), becoming one of its official partners alongside apparel brand PUMA, Snapdragon, automobile brand Shanghai Volkswagen, shampoo brand Clear, food delivery Meituan, brewery brand Snow Beer, and machine oil brand Castrol.

Financial terms of the deal were not disclosed.

Hisense is one of China’s biggest home appliance brands and has been enthusiastic about sponsoring global football events since 2016. Hisense sponsored the 2016 and 2020 UEFA European Championship, the 2018 Russia FIFA World Cup, and the 2022 Qatar FIFA World Cup. On Sept. 1, Hisense announced that it would become the official global partner of the 2024 Germany UEFA European Championship.

Thursday’s announcement marks the first time that Hisense has sponsored an esports competition.

In January, Honor of Kings developer TiMi Studios announced its commitment to growing the game’s global esports scene by investing $15M USD in overseas markets and building an international esports ecosystem.

Source: esportsadvocate.net

The post Hisense Group Sponsors China’s King Pro League appeared first on European Gaming Industry News.

Continue Reading

Latest News

MLBB CN Pre-Season Invitational puts China’s best Mobile Legends teams to the test

Published

on

Reading Time: 2 minutes

 

Moonton Games has retracted their previous statement, and clarified that the MLBB Chinese server has not yet been released.

The fight is on!

Moonton Games is intensifying its efforts to grow the Mobile Legends: Bang Bang esports scene in China with the the MLBB CN Pre-Season Invitational.

The first stage of the tournament, which happens from March 21 to 31, 2024, features eight invited Chinese teams, including some of the biggest esports organizations in China such as JDG Gaming and Nova Esports.

Eight teams battle it out in the MLBB CN Pre-Season Invitational

 

According to MLBB CN Esports region head Mike Chu, they have a lot of things planned for the game’s esports ecosystem in the country, starting with the launch of this tournament.

“We will strive to provide professional opportunities to grassroots and professional Chinese players, showcasing the growth, strength, and potential of Chinese esports to an audience of over one billion global players,” he wrote.

 

 

The tournament is divided into two stages. The top-ranked teams on the second stage qualifies for the Mobile Legends Mid-Season Cup 2024 (MSC 2024) China qualifier.

In the qualifier, they compete to get two slots at MSC 2024, where a staggering US$3,000,000 prize pool awaits.

The second stage of the MLBB CN Pre-Season Invitational starts on April, while the MSC 2024 tournament begins on on June 28, 2024.

Fans can watch the livestream on the following livestream services.

  • Douyin
  • Weibo
  • Huya
  • Kuaishou
  • Douyu
  • Bilibili

Follow ONE Esports on Social medi or for MLBB esports news, guides, and updates.

Source: oneesports.gg

 

The post MLBB CN Pre-Season Invitational puts China’s best Mobile Legends teams to the test appeared first on European Gaming Industry News.

Continue Reading

Latest News

Tencent’s next level up: fewer big foreign franchise games, more in-house

Published

on

Reading Time: 4 minutes

 

In a sea change at China’s Tencent (0700.HK), opens new tab, an easy-to-play game of cute characters tackling obstacle courses has taken precedence over developing a big-budget sophisticated foreign franchise for smartphones.

Since late last year, the world’s largest video games company has, according to sources, redeployed hundreds of people from the team developing “Assassin’s Creed Jade” for mobile – a multi-year project with France’s Ubisoft (UBIP.PA)

They are now working on recently launched “DreamStar” – Tencent’s answer to rival NetEase’s (9999.HK), hit “Eggy Party” and the company’s most high-profile attempt to date at the so-called party game genre which offers simple gameplay, minigames and encourages players to hang out and chat.

As a result, “Assassin’s Creed Jade” – an action-adventure game set in ancient China that has been under development for mobile for at least four years – will likely be released in 2025 instead of this year, according to three sources familiar with the matter. They were not authorised to speak to media and declined to be identified.

The redeployment of resources highlights the trends forcing a strategic pivot at Tencent. Firstly, developing big-name Western franchises for mobile phones tends to yield thin margins.

At the same time, rivals have had breakout hits with ostensibly niche products that offer new takes on gaming such as as NetEase’s “Eggy Party” and miHoYo’s anime-style fantasy game “Genshin Impact”. Moreover, the games were developed in-house so their profits are all their own.

Tencent had, for years, great success by developing for smartphones international hits like Activision Blizzard’s shooter game “Call of Duty” and the battle royale game “PUBG” by South Korea’s Krafton (259960.KS).

But such franchise games – called IP (intellectual property) games – are costly to make. Royalty fees of 15% to 20% of sales are typical, Apple’s (AAPL.O), opens new tab App Store takes a 30% cut while marketing and user acquisition expenses can cost another 30% to 40%, the sources said.

After a string of IP game setbacks, Tencent plans to be more selective. “We’re focusing on fewer bigger budget games. Typically, we’re seeking to make the biggest bets around games that either iterate on a successful IP … or games that are iterating around proven gameplay success within a niche and taking those to a more mass market,” Tencent Chief Strategy Officer James Mitchell told an earnings call on Wednesday.

Tencent is now also pushing for royalty fees to fall to under 10% of sales in some negotiations, according to one person with direct knowledge of the matter. “That would have been almost unthinkable just a few years ago. Tencent used to be far more generous,” the person said.

Tencent declined to comment on details of its strategic shift.

SETBACKS AND BAMBOO SHOOTS

On Wednesday, Tencent reported a slight decline in fourth-quarter gaming sales and also flagged that overall gaming revenue this quarter would be soft compared with the same period last year when gaming sales surged as pandemic restrictions were lifted.

Pony Ma, Tencent’s founder and chief executive, has been blunt that the company’s video game division – which last year generated 180 billion yuan ($25 billion) in sales or around 30%of overall revenue – needs to do better.
Competitors have continued to create new products, “leaving us feeling we have achieved nothing,” he told a stadium of employees in Shenzhen at the company’s annual meeting in January, according to a separate source with direct knowledge of the event.

That month, Tencent also launched its “Spring Bamboo Shoots Project”, aiming to incubate in-house games with novel gameplay and offering budgets of up to 300 million yuan ($42 million) per game. While that is much less than budgets of 1 billion yuan for a major franchise, the initiative signals Tencent is willing to take more risks on non-conventional game design, the sources said.

Some major setbacks have only increased the sense of urgency for change.

Last year, Electronic Arts (EA.O),  discontinued “Apex Legends Mobile”, a game developed by Tencent, with executives at the U.S. firm saying it had fallen short of expected quality.

In December, Tencent axed development of a mobile game based on the “Nier” franchise from Japan’s Square Enix (9684.T), in part because the Chinese firm struggled to find a compelling monetisation model given its expensive development costs and franchise rights, sources have said.

“Mobile games studios have learned that IP is not the magic bullet for user acquisition it once was,” says Serkan Toto, founder of game industry consultancy Kantan Games.

Tencent has also seen a key in-house game bomb. “Undawn”, a zombie apocalypse shooting game that Hollywood star Will Smith was hired to endorse, flopped spectacularly despite having a budget of close to 1 billion yuan with more than 300 developers, according to two of the sources.

Last month, one year since its launch, “Undawn” brought in revenue of just $287,000, according to research firm Appmagic.

Western companies have also started to shift away from outsourcing mobile game development to Chinese companies like Tencent. Microsoft’s (MSFT.O), Activision Blizzard, for example, has just launched “Call of Duty Warzone Mobile” which will compete directly with Tencent’s “Call of Duty Mobile”.

Adding salt to the wound, Tencent’s top two games saw revenue slide during the week-long Lunar New Year holidays in February. “Honor of Kings” and “PUBG Mobile”, which are nine and seven years old respectively, suffered 7% and 30% drops compared to the holiday period last year, according to one of the sources who was briefed on the matter.

Source: Reuters

 

The post Tencent’s next level up: fewer big foreign franchise games, more in-house appeared first on European Gaming Industry News.

Continue Reading

Trending

We are constantly showing banners about important news regarding events and product launches. Please turn AdBlock off in order to see these areas.