28% GST impact: Online poker platform Spartan Poker lays off 125 employees
After Mobile Premier League (MPL) and Hike’s Rush Gaming, online poker platform Spartan Poker has reportedly become another victim of government’s 28 per cent GST on online gaming.
IANS
Aug 18, 2023 11:17
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New Delhi, Aug 18 (IANS) After Mobile Premier League (MPL) and Hike’s Rush Gaming, online poker platform Spartan Poker has reportedly become another victim of government’s 28 per cent GST on online gaming.
Money Control reported on Friday that Spartan Poker has laid off 125 people, or 40 per cent of its workforce.
Founded by Amin Rozani, Sameer Rattonsey and Peter Abraham, Spartan Poker allows users to play poker tournaments online.
Last week, Kavin Bharti Mittal-founded startup Hike had laid off nearly 55 people.
Mittal said that the “400 per cent increase in GST is a bazooka pointed at us”.
Hike operates a Blockchain-based real money gaming platform called Rush Gaming Universe (RGU).
Earlier, homegrown online gaming platform MPL had slashed its workforce by nearly 50 per cent which will impact around 350 jobs, as the 51st GST Council meeting stayed firm on taxing online gaming at 28 per cent on gross value collected.
Industry players have lamented that taxing GST on deposits rather than the technology platform commission charged by the companies will make the unit economics unviable, wiping out 80 per cent of the industry.
