Tech
Canada’s Clairvest Group writes off investment in Head Digital Works after real money gaming ban
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Canadian investment firm Clairvest Group has written off its investment in online gaming company Head Digital Works (HDW), which operates the skill gaming platform A23 Rummy, after new gaming regulations imposed a blanket ban on the real money gaming (RMG) industry.
The investment, which had a carrying value of Rs 760 crore, has been marked down to nil, as the regulations have effectively barred the company from conducting its business in India.
The write-off led Clairvest to report a net loss of around Rs 486 crore for the quarter ended September…
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