China’s Tencent to Shut Down Poker Game amid Beijing’s Scrutiny

© Reuters. China’s tech giant Tencent will shutter its popular Texas Hold’Em poker video game

Investing.com – China’s tech giant Tencent Holdings Ltd (HK: 0700) will and close the game’s server this month to go along with Beijing’s intensifying scrutiny on the gaming industry, the company said on Monday.

The Shenzhen-based firm gained a large amount of profit from gaming. August saw its market value slumped by around $20 billion as China strengthened the crackdown on online gaming due to rising levels of myopia.

In mid-August, Beijing banned the tech company’s blockbuster video game “Monster Hunter: World”, leading to slide in its stock price. Mainland investors sold a record of around $3.2 billion of Hong Kong equities last month, with Tencent accounting for over half of the sales.

The company reported a decline in its first quarterly profit in over a decade this year.

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