Investing.com – China’s tech giant Tencent Holdings Ltd (HK: 0700) will shutter its popular Texas Hold’Em poker video game 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 slides 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 the first decline in quarterly profits in over a decade in August.
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