FOCUS-Tencent Shifts Focus To Majority Deals Overseas Gaming...
Sam Antar is the nephew of Eddie Antar (pictured right in 1992), who founded the Crazy Eddie electronics stores in the 1970s and 1980s, who defrauded investors out of more than $74million. Eddie Antar died in 2016
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In a statement, Twitch said it would no longer allow the "streaming of gambling sites that include slots, roulette, or dice games." That list of sites is currently limited to Stake.com, Rollbit.com, Duelbits.com and Roobet.com but could expand as Twitch continues to investigate. The ban is set to go into effect on Oct. 18.
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Antar played live dealer blackjack and online slots, sometimes for 24 hours straight, he said in his lawsuit; he bet more than $5 million in one 16-day period in January 2020.
During the nine month period covered in the suit, he made more than 100,000 online bets.
'I've been in prison once, and I'm probably facing prison again, and it all had to do with me not being able to admit to myself I was a compulsive gambler,' Antar said in an interview with The Associated Press Thursday.
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Twitch said Tuesday it will remove high-profile gambling sites from the Amazon-owned streaming platform after a number of high-profile streamers like Pokimane, Mizkif and Devin Nash threatened a boycott of Twitch during peak traffic periods.
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"Gambling content on Twitch has been a big topic of discussion in the community, and something we've been actively reviewing since our last policy update in this area," Twitch said. "While we prohibit sharing links or referral codes to all sites that include slots, roulette or dice games, we've seen some people circumvent those rules and expose our community to potential harm."
Also, with Beijing strictly restricting game approvals at home and still suspending approvals for games of foreign IPs, Tencent is forced to move towards gaining control of foreign game companies and their IPs, said the four sources.
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He also claims the companies paid him near-daily bonuses totaling $30,000 a month to keep him playing and to entice him not to report problems with the games to the New Jersey Division of Gaming Enforcement.
Tencent's growing focus on overseas assets and markets is in sharp contrast to its much slower dealmaking pace at home since the regulatory clampdowns intensified, and the divestment of a clutch of domestic portfolio companies.
Tencent's pursuit of bigger stakes in its existing gaming portfolio or new targets would give the company a bigger say in such firms' businesses and also help it secure the intellectual property rights of popular games, said the four sources.
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In a July 17, 2019 text and email conversation, Antar quotes one as telling him 'other players are not getting anywhere near what you are getting' in terms of compensation for being kicked offline while gambling.
In his lawsuit, Antar claims he alerted numerous employees and officials with the gambling companies to the fact that there was a serious, recurring problem with disconnections, but that they knowingly kept malfunctioning games available to the public because they were too profitable to take down.
