Thursday, August 18, 2022

Nagaland govt notifies Skill Games Rules, to issue LOI soon


The Nagaland government has notified the Nagaland Prohibition of Gambling and Promotion and Regulation of Online Games of Skill Rules, 2016, according to information received by Glaws.

Further, sources have indicated that the government has initiated the process of accepting applications and is slated to issue Letters of Intents (LOIs) to at least four companies as per the Rules.  

Some of the conditions for obtaining a license include an application fee of Rs. 50,000 (US$740) and that  the controlling stake and executive decisions of the applicant must be made within India.

As well as this, fees for the license is Rs. 1 million per game per annum, or Rs. 2.5 million per annum if the applicant offers a variety of games. A gaming tax of 0.5 percent of gross revenue will also be applied.

“Given the stringent conditions imposed by the Nagaland government, including comparatively high rate of fees and taxes as well as some ambiguity surrounding the process of awarding licenses, many in the gaming industry remain sceptical of the desirability of obtaining the license,” said Jay Sayta, a gaming lawyer in India.

Asia Gaming Brief is a news and intelligence service providing up to date market information for worldwide executives on relevant gaming issues in Asia.

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