Tencent market falls with growing debt
Tencent Holdings has lost $200 billions in market value this year. The gaming and social media firm company is now facing a dramatic fall after its spectacular growth. Recently, Tencent’s online ‘Texas Poker Hold’Em’ poker game has shut down after the examination from the government.
The authorities have frozen approval of new games and prevented Tencent from making money, due to the violence and obscene content of some games.
However, the company has been making a large income from gaming. The PlayerUnknown’s Battlegrounds Mobile (PUBG Mobile) has been hitting the top most popular game this year, but the Chinese authorities have yet to approve the in-game purchases.
Will Tencent Holdings hold for another year?