Mobile Premier League to lay off 60% India staff after govt ban on paid games
Bengaluru: Mobile Premier League (MPL), one of India’s largest online gaming platforms, will lay off about 60% of its local workforce following the government’s decision to ban paid online games, a company source said.
According to a report published by The Hindu, the layoffs will affect around 300 of MPL’s 500 India employees across marketing, finance, operations, engineering and legal. The report says that this is the first major industry reaction to the new law by government, which banned online paid games this month, citing risk of financial losses and addiction among youth.
The move has shaken an industry that had been projected to grow to $3.6 billion by 2029 and has attracted investments from Tiger Global and Peak XV Partners. MPL and rival Dream11 gained popularity by offering fantasy cricket games with cash rewards.
In an internal email to staff on Sunday, MPL CEO Sai Srinivas said, “With a heavy heart we have decided that we will be downsizing our India team significantly.” While he did not mention the number of job cuts, he added that India contributed about 50% of MPL’s revenues, and that “this change would mean that we would no longer be making any revenue from India in the near future.”
MPL will now focus on free-to-play games in India while strengthening its presence in the U.S. market. The company was last valued at $2.3 billion in 2021, according to Pitchbook, and had an India revenue of around $100 million last year. It also operates free-to-play games in Europe and offers paid games in the U.S. and Brazil.
Meanwhile, rival Dream11, valued at $8 billion, has also shut down its fantasy cricket operations. Several other poker and rummy apps have suspended services. Last week, gaming firm A23 challenged the ban, though MPL and Dream11 have opted against legal action and MPL declined to comment on Reuters’ queries.
Let the Truth be known. If you read VB and like VB, please be a VB Supporter and Help us deliver the Truth to one and all.
23-year-old woman found dead at Delhi home; suicide suspected
New Delhi (PTI): A 23-year-old woman was found dead in her house in Delhi's Prem Nagar area, with police suspecting it to be a case of suicide, an official said on Tuesday.
The deceased, identified as Anjali Singh, was found motionless in her room on Monday by her sister and her neighbour.
Police said her father, Vinod Kumar Singh (51), told them that he and his wife were away at work at the time of the incident, while their son and the other daughter were also not at home at the time of the incident.
ALSO READ: Koppal: Worms found in midday meal at Ningapur Government School
According to the family, the room in which Anjali was found was locked from the inside. The door was later forcibly opened by a neighbour and her sister with the help of a crowbar.
Her body was found lying on the bed inside the room, police said.
Preliminary inquiry revealed that Anjali had allegedly hanged herself using a piece of cloth tied to the ceiling fan.
It is suspected that the noose eventually might have loosened or torn off, resulting in her being found lying on the bed.
Family members informed the police that Anjali was a final-year student of a librarian science course from Indira Gandhi National Open University (IGNOU). About a week ago, her final-year examination results were declared, and she had failed, following which she had been under depression, they said.
The family has not raised any allegation of foul play, police said, adding that no suicide note or external injury marks were found on the body during the initial inspection.
Inquest proceedings have been initiated in the matter as per the law. The body has been sent for post-mortem examination to ascertain the exact cause of death, and further investigation is underway, police added.
