Tencent pulls plug on Twitch-like platform Penguin Esports as regulators freeze out the social media giant from new gaming licences

  • The six-year-old Penguin Esports game streaming site ended operations on June 7
  • Tencent was left out of the new batch of 60 online gaming licences issued by the regulator on Tuesday

Tencent closed its Penguin Esports video game streaming platform on June 7, succumbing to heightened regulatory pressure and competition. Photo: Weibo
Tencent Holdings, which operates the biggest social media and gaming business in China, pulled the plug on its game streaming site Penguin Esports this week, another setback after antitrust regulators blocked the company’s plan to merge game streaming websites Douyu and Huya.
The move comes at a time when the Chinese government is trying to reduce youths’ indulgence in gaming, which is seen as a distraction to their growth. While the Chinese government has resumed issuing game licences, Tencent and NetEase, the two biggest players, have been left out in the two licence batches in April and June.
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