16+ CR GTD
Header banner - Calling Stn
Pokersaint - Lead
Tencent Holdings May Invest $100 Million in Dream11 Poker

Tencent Holdings May Invest $100 Million in Dream11

by Gutshot Editorial Posted on 20 Apr, 2018

Founded in 1998, Tencent Holdings Limited is a Chinese multinational company, a leading provider of internet services and a mobile gaming giant as well. Tencent happens to be one of the biggest investment corporations in the world, always looking to broaden their scope and invest in booming gaming companies.

In July last year, Tencent signed a multi-year with Caesars Interactive Entertainment’s World Series of Poker (WSOP), to bring the world’s most popular poker brand to Asia. In December, the inaugural WSOP China took place and it was a massive success. Now, it is reported that the company wishes to invest around $100 million in Indian fantasy sports provider, Dream11.

Founded in 2012 by Harsh Jain and Bhavit Sheth, Dream11 has grown over the years to become the leading fantasy sports operator in the country, having over 2 crore registered users. These numbers will only be on its way up as they recently signed MS Dhoni as their brand ambassador and then also became associate sponsors of the VIVO IPL 2018.

recent report in the Economic Times says that Tencent, the world’s fifth-largest internet company, has reached advanced stages of negotiations to invest an amount of $100 million (~INR 656 crore) in Dream11. None of the parties have confirmed this transaction yet, but if it is true, this could be a huge boost to the Indian fantasy sports industry, which is still taking baby steps. Also, this will be Tencent’s second major investment in India after they put in $115 million in music streaming service, Gaana, earlier this year.

If the deal goes through, Dream11’s three institutional investors Kalaari Capital, Multiples Alternate Asset Management and San Francisco’s Think Investments may have to completely or partially exit the fantasy sports company. In the past, Dream11 has also partnered with the Caribbean Premier League, the NBA and the Indian Super League.

Spartan deposit slim - May 2020

For more updates on the Dream11-Tencent deal, keep reading GutshotMagazine.com!

Image source: Entrackr.com


Tagged : 


Your email address will not be published. Required fields are marked *

Dangal box

Top 10 Poker Rooms

  • Calling Station
    Calling Station

    Instant withdrawal; Use “RELOAD20” on deposits for 20% locked bonus
    Offer: "GUTSHT" Register

  • 9stacks

    Instant withdrawal; 100% locked bonus on first deposit
    Offer: "9GUTSHOT Register

  • PokerSaint

    60-seconds withdrawal; 100% locked bonus on first deposit
    Offer: "GUT100" Register

  • Poker Dangal
    Poker Dangal

    INR 500 Free on sign-up; (120 Locked, 330 Ticket, 50 Instant)
    Offer: 150% on first deposit up to INR 5,000 Register

  • Natural8

    Sign-up code "GUTSHOT"
    Offer: Up to $100 free tickets Register

  • Spartan Poker
    Spartan Poker

    Sign-up with "GUTSHOT"
    Offer: "GUT300X" to get 300% on your deposit Register

  • PokerStellar

    INR 500 Free on KYC verification; 280 Instant Bonus + 220 Ticket
    Offer: 150% Locked and 20% Instant Bonus on first deposit Register

  • GGpoker

    Sign-up with code "GUTSHOT"
    Offer: Welcome Bonus - 100% upto $600 Register

  • FTR 2.0
    FTR 2.0

    Sign-up with "GSFTR"
    Offer: 100% Bonus on deposit with "WC2500" Register

  • Gotham City Poker
    Gotham City Poker

    $10 FREE on signing up!
    Offer: "GUTSHOT" Register

BSU box banner

Want to share your thoughts about poker?

Then click the button to submit your article.

Facebook + Follow

Instagram + Follow

IOPC July 2020 Millionaire

IOPC July 2020 Millionaire