INSUBCONTINENT EXCLUSIVE:
Hong Kong: Tencent Holdings is cutting the marketing budget of its gaming division as the business suffers through regulatory disruptions
$30 billion of revenue, has been hammered this year after regulators froze the approval process for new games, preventing companies from
making money from their hit titles
The move has thrown Tencent into disarray, leading to its first profit drop in at least a decade and the evaporation more than $200 billion
of market value since a January peak.
To cope with the challenges, the operator of the WeChat social network is cutting in half the branding
according to data compiled by Bloomberg
Analysts are expecting the company to record only a 24 per cent rise in revenue for the third quarter when it reports earnings on Nov
14, the slowest growth in more than three years.
Tencent distributes its own games as well as those from others
