WinZO forays into Brazil gaming market amid 28% GST hike, to invest $25 mn

Vernacular gaming platform WinZO announced the launch of its app in Brazil on Thursday, where it plans to invest up to $25 million. This move follows closely after the Centre’s decision to impose a 28 per cent GST on online gaming, a step viewed by industry stakeholders as a severe setback to India’s budding gaming sector.

The decision to venture into the Brazilian market stems from a strategic initiative to diversify and confront challenges introduced in India for all firms by the 400 per cent surge in GST, the company conveyed in a statement.