Software: Tencent

The gaming industry is growing. There are many exciting innovations and tech trends in the industry. The following are the top tech innovations revolutionizing the gaming world.

Roblox is the top-earning iPad gaming publisher in June. King is second, Playrix is third, Double Down Interactive is fourth, FunPlus International is fifth, Product Madness is sixth, and Supercell is seventh. The iPad games are more popular with young users. Zynga Inc, famous for Farmville, made $7.47m in revenue in the month of June, while Supercells made only $ 7.29m. The company was recently acquired by Take-Two Interactive. It is responsible for popular mobile games such as Hay Day, Clash of Clans, Boom Beach, etc.

Free Fire is popular in Japan and Asia. It is the most downloaded game on both Android and IOS. Free Fire has given Japanese gamers new audiences.

A Group of Ministers (GoM) is looking at a taxation regime for casinos, online games and horse racing. Media reports suggest 28 percent tax being imposed on online gaming. The industry is up in arms against the recommendation. It is said that business will move underground or to other jurisdictions. It would be tragic if administrative convenience of GST officers alone makes the case to decide the rate of taxation. There is a need for building capacity and self-regulation to manage present day complexities of the digital economy. iReport.com: The Taxation of Online Games in India: A Complicated and Difficult to Define Scenario.

The report is a comprehensive analysis of global mobile gaming opportunities. It provides insights into the mobile game development studios, publishing companies, gaming economy management companies and mobile network operators.

Macau has shut down all of its casinos and ordered its residents to stay at home for a week due to an ongoing Covid outbreak.

A ministerial group is advising the Goods and Services Tax Council on taxing casinos, race courses and online gaming. The current 18% tax rate is based on the premise that online games involve skill and do not constitute gambling. It is yet to decide whether the tax will be imposed on gross or net valuation. India is one of the fastest-growing markets for online game. Technology giants like Microsoft and Meta of Facebook fame are placing big bets on online gambling to propel their growth. High courts in Karnataka, Kerala and Tamil Nadu have struck down laws that banned online video games.

The 3 biggest partnerships in Online Gaming of the last decade were formed by game developers.

The Asian Mobile Gaming Industry is Expected to Reach $86.6 billion by 2027. Report provides insights into the mobile gaming business and analysis of current limitations, challenges, and opportunities.

Microsoft is entering the gaming industry. Online video games are now a focal point in the industry, as the array of top-notch consoles leaves no doubt.

Alvin Chau, Suncity Group Holdings’ CEO, was among those detained. Macau casino stocks tanked this week after the arrest of 11 junket operators.

India needs better regulation to differentiate online gaming from online gambling. China, South Korea and Japan have strict laws to protect minors from video game addiction.

Karnataka government banned online gambling a fortnight ago. It is not the first government to ban online betting. In 1981, President Marcos of the Philippines banned video games. The Philippines also banned live streaming of online games in April this year. The governments have been accused of interfering with the lives of people. They were driven by the need to protect ordinary citizens. Some states banned all kinds of gambling. Others maintained the fine difference between game of chance and game on skill. All states were concerned about the public safety. China was not happy with this. There were concerns that the live streams of these games were choking the internet.

China is considering new regulations for casinos in Macao. Wall Street is downgrading the sector. Las Vegas Sands is one of the biggest losers. The resort operator sold all of its remaining U.S. properties to go all-in on Asia.  Sands has operations in Singapore and Japan. It is almost wholly dependent on China for its survival.

Macao's casino industry is in trouble. New Yokohama mayor walked away from a bid to bring Las Vegas to the Greater Tokyo region. Japan is late to join the casino market. Sheldon Adelson and his Las. Vegas Sands executives gave away the game early on. William Pesek is an award-winning Tokyo-based journalist and author. He is also a former journalist. His book is called "Japanization: What the World Can Learn from Japan's Lost Decades". He believes that China's crackdown on casinos is a good example of why Asia's gambling industry was always doomed.

Macau's Secretary for Economy and Finance announced a 45-day consultation period for the gambling industry. The review will look at tightening restrictions on casino operators and appointing government supervisors.

Hong Kong shares ended lower on Wednesday. Tech and casino gaming stocks were the biggest losers. Beijing will promote the development of a "civilized" internet. Macau kicked off public gaming consultation ahead of casino rebidding. Evergrande Group won't be able to pay loan interest due on September 20. The Hang Seng Property Index went down 2.2%, with Country Garden slumping 8.8%. The Hang seng Finance Index declined 1.1%. Insurance giant AIA Group shed 3.9%.

The strictest controls yet over youth entertainment hammered the shares of gaming platforms Tencent Holdings Ltd and NetEase Inc. They can only offer online gaming to children from 8pm to 9pm on Fridays, weekends and public holidays.

China restricts minors' online gambling to one hour on weekends and holidays. The new rule also restricts the time of day. It is enforced on the gaming companies themselves. It's possible to circumvent the limits by allowing a child to log in on a parent's account. Tencent has facial recognition software to catch minors playing after curfew.

Korean Gaming Giant Netmarble Buys Hong Kong Casino App SpinX Games for $2.19 billion. The deal will expand the South Korean gaming giant's business outside its home market. SpinX's games include Cash Frenzy, Lotsa Slots and Jackpot World. Analysts expect more gaming sector tie-ups as the world’s top brands try to capture an internationalized market that is growing because of pandemic-era play. Global gaming market is expected to grow to $250 billion by 2025 from $150 billion last year.

Philippines has emerged as a major hub for online gaming. More than 100,000 Chinese nationals work in virtual casinos catering to players back in China. Beijing has ratcheted up pressure on Manila to shut down the industry. President Rodrigo Duterte allowed the POGOs to reopen in May. The online casinos generate tax revenue and desperately needed jobs in Manila's downtown area.

Chinese authorities are conducting a massive crackdown on illegal online gambling. They have implicated some of China's leading tech giants in the illegal activity. The companies profited from involvement in gambling operators' complex business chains. Most of the implicated companies are cooperating with authorities. The surge in illegal gambling amid the pandemic has been astonishing. By the end of September, Chinese authorities launched investigations of more than 8,800 cross-border gambling cases and arrested more more 60,000 suspects. Baidu pledged zero tolerance for violations and promised to assist police in their investigation.