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Budget 2023 boosts digitisation and formalisation of gaming sector: AVGC sector experts
Experts and industry leaders in the AVGC (animation, visual effects, gaming and comic) industry praised the Union Budget 2023-24 as beneficial for the industry. Measures such as the clarification in the applicability of TDS only on the “net winnings”, and that too at the end of the year or during withdrawal, were particularly hailed as significant for the industry.
Bharat Patel, Chairman and Director, Yudiz Solutions Ltd, said, “Considering how fast India’s economy is adapting to modern technologies, the budget surely emphasizes the ‘Amrit Kaal’, mentioned by our Hon’ble Prime Minister. We at Yudiz are particularly thrilled that the government has recognised the potential of the gaming industry, and has taken steps in this budget towards fairer recognition of incomes from gaming. It is a positive move that the government has clarified that taxes will be applicable on net winnings, and not on aggregate winnings. We’re also grateful that Hon’ble Finance Minister FM Nirmala Sitharaman has said that the government will issue more clarity on the taxability of online gaming, and ease the tax burden. Proactive measures such as these can unleash the brimming gaming potential of India.”
Jay Sayta, technology and gaming lawyer, struck a more cautious note and said that while the measures are appreciated, more clarity was awaited on the calculation of net winnings.
“The budget and Finance Bill, 2023 has provided important clarity on applicability of TDS for winnings on online gaming platforms that the industry was seeking. It is a welcome step that the concept of ‘net winnings’ has been recognised in the Income Tax Act for online games and TDS only has to be deducted at the end of the financial year or at the time of withdrawal from the user account,” said Mr. Sayta. “However, the manner in which net winnings are supposed to be calculated and the set-offs that may be permitted before calculating such net winnings are left to be clarified by the CBDT through rules/guidelines. Hopefully, the CBDT will soon provide guidance on the manner in which net winnings have to be calculated.”
The new rules also bring parity between online gaming avenues such as apps and offline gaming avenues such as casinos.
Other measures such as the relief in customs duty for import of critical smartphone parts such as lenses and batteries will help stabilize smartphone prices, and help more Indians access mobile technologies and games. The raising of the minimum taxable slab from Rs.5 lakh to Rs.7 lakh under the new tax regime will also indirectly help the industry, as it increases disposable income available to consumers.
Experts also praised the overall support given to the startups in the form of the proposed National Data Governance Policy which will help start-ups access anonymised data, and providing the benefit of carry forward of losses on change of shareholding of start-ups from seven years of incorporation to ten years.
Suraj Chokani, Founder, Ability Games, said, “It is an excellent budget from every aspect, from our point of view. The FM spoke about 7 major thrusts in the budget, calling it Saptrishi, out of which the 6th pointer spoke about new-age technologies. Recognizing such new age tech in itself is a big boost to the industry as a whole and shows the forward looking character of the Government. Focus on MSME and Startups is also a welcome step from our perspective and will help us go a long way. Overall we are very happy and satisfied with such an inclusive Budget.”
Globally, the AVGC industry was valued at $168 billion in 2021, while the Indian AVGC industry was valued at $1.1 billion, a 28% growth over the previous year, according a report by the AVGC task force. The sector has plenty of room for growth, and the government’s recent decisions such as the proposed self-regulation of the online gaming industry and appointment of MeITY as the nodal Ministry will help boost the sector’s growth.
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BLAST and GamingMalta announce multi-year partnership including a state-of-the-art studio and hub of esports activity on the island
Competitive entertainment company BLAST and GamingMalta, an independent non-profit foundation set up by the Government of Malta, are proud to announce a transformative three-year partnership. The partnership will see Malta become a premier destination for world-class esports events and innovation, with BLAST debuting in Malta with the BLAST Premier Bounty S2 in August 2025.
The partnership will initially host nine major international esports tournaments in Malta, featuring some of the most prestigious competitions from BLAST’s global calendar, including the BLAST Premier and BLAST Slam circuits. In addition to these headline events, BLAST will establish a permanent esports broadcasting facility equipped with cutting edge technology that will span over 1,000m2 hosting Tier 1 esports tournaments and an office presence on the island, creating a dedicated team and infrastructure to support content production, operations, and long-term engagement in the region.
As part of the collaboration, GamingMalta will also benefit from global visibility across all BLAST Premier and BLAST Slam broadcasts, with millions of fans tuning in around the world. Beyond tournaments and exposure, the partnership also underscores a shared commitment to community development and education.
BLAST will support GamingMalta’s mission by investing in local esports initiatives, forging connections with universities and grassroots organisations, and helping create meaningful career opportunities for Maltese players, content creators, and aspiring professionals within the gaming industry.
Together, BLAST and GamingMalta will position Malta as a global esports destination, leveraging high-profile events to attract international teams, fans, and media coverage. The initiative is also expected to generate significant economic benefits through increased tourism, hospitality demand, and international business.
Silvio Schembri, Minister for the Economy, Enterprise & Strategic Projects for Malta, added: “This partnership with BLAST – a premier global esports entertainment company – aligns perfectly with the Government of Malta’s Vision 2050, which places digital innovation, youth engagement, and the creative economy at the heart of our national strategy. It reflects our ongoing commitment to positioning Malta as a hub for future-facing industries, while also creating real opportunities for our young people through education, careers, and international exposure. By investing in strategic collaborations like this, we continue to build an economy that is innovative, resilient, and globally relevant.”
Robbie Douek, CEO of BLAST, said: “Our partnership with GamingMalta makes a major milestone for BLAST having secured a multi year partnership to elevate esports and gaming in Malta. We are excited to bring live output, a new studio and competitive entertainment to the island.”
Ivan Filletti CEO of GamingMalta remarked “At GamingMalta, we are committed to nurturing every level of the gaming ecosystem – from grassroots to global. This multi-year partnership with BLAST is a bold step forward in our relentless journey to continue establishing Malta as a world-class esports hub. We will continue to champion our ‘Home of Gaming Excellence’ vision by delivering top-tier events and creating new opportunities for the next generation of esports talent.”
The BLAST Premier Bounty S2 features 32 teams from across the Counter-Strike scene battling for a spot at our LAN finals and a slice of the $500,000 USD prize pool. The innovative Bounty format allows teams to select their opponents and utilize wager mechanics to raise the stakes and chase riches.
The post BLAST and GamingMalta announce multi-year partnership including a state-of-the-art studio and hub of esports activity on the island appeared first on European Gaming Industry News.
Clarion Gaming celebrated ‘double gold’ at the AEO Excellence Awards widely recognised as the Oscars for the events industry.
Held at London’s Grosvenor House Hotel which has hosted royalty, dignitaries and business leaders for nearly a century, the Awards saw World Gaming Week, comprising ICE and iGB Affiliate Barcelona judged Best International Show (Europe) with Clarion Gaming receiving the accolade of ‘Organiser Team of the Year’ a category which was judged across every industry sector and jurisdiction.
Reflecting on the illustrious Awards which showcase the very best that the events industry has to offer, Clarion Gaming Managing Director, Stuart Hunter said: “It’s a fantastic achievement to win Gold across two incredibly competitive categories and to be recognised by the judging panel which was drawn from across the events industry ecosystem.
“I can’t think of another team anywhere in the event’s space that’s risen to the huge challenge of moving three market leading and established shows to two different countries over the course of 18-months.
“Taking ICE and iGB Affiliate to Barcelona has opened-up so many opportunities for the entire industry supply chain and we have the same aspirations for iGB L!VE which opens in London in July following its relocation from Amsterdam.”
He added: “The philosophy which is embedded in the Clarion Gaming DNA is to always work alongside our customers, understand their business needs and use the power of our brands to help meet their objectives irrespective of their size.
“By embracing this approach, our commitment to being industry partners empowers us to make bold decisions and achieve even greater outcomes for our customers.”
The post Clarion Gaming wins accolades at prestigious events industry awards appeared first on European Gaming Industry News.
UK trade association Bacta has announced the appointment of Allaster Gair to the position of Director of Communications, effective 7th July.
Gair, who replaces Executive Director George McGregor who announced in March that he would be stepping down from Bacta joins from global advisory consultancy the DGA Group where he spent 5-years most recently as Senior Associate.
Looking ahead to driving the trade association’s communications programme he stated: “I’m absolutely thrilled to be joining Bacta at such a pivotal time for the industry. It represents a sector with deep roots in local economies, and I’m looking forward to proactively championing its value and telling its story.”
He noted: “The key challenge is changing outdated perceptions and I’ll be working hard to ensure stakeholders understand the modern, responsible nature of the industry and how it strongly contributes both economically and socially.
“The sector needs to clearly and consistently influence opinion, build trust, and inform policy in what is a complex landscape. I see huge potential to go on the front foot and tell the sector’s positive stories. In particular I’m keen to highlight its beneficial impact, commitment to safer gambling, and its importance to the wider economy.”
Bacta’s outgoing President John Bollom said: “I am delighted to welcome Allaster who was without doubt the stand-out candidate.
“The comms challenges that we face are significant not least combatting the media onslaught that’s being directed at the Adult Gaming Sector and enhancing the ways in which Bacta engages with its members.
“I would like to place on the record my thanks to George McGregor who ends a 21-year association with Bacta.
“His knowledge and experience have been a great asset and he has been a source of wise counsel during what has been an extremely challenging period for the industry.“
The post Allaster Gair confirmed as Bacta’s Director of Communications appeared first on European Gaming Industry News.
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