Fantasy sports start-up Mobile Premier League cuts workforce by 50% after 28% GST on online gaming

BENGALURU: Online gaming and fantasy sports start-up Mobile Premier League (MPL) has reduced its workforce by 50% or about 350 people. This move comes after the government retained 28% GST on online gaming.

In an email to employees (viewed by TNIE), the company’s founder and CEO Sai Srinivas said, “Last month has been extremely challenging and uncertain for all of us. Last week, it was confirmed that a 28% GST will be levied on the full deposit value rather than on Gross Gaming Revenue. The new rules will increase our tax burden by as much as 350-400%.”