Riot Games' Ultimatum: Entire Esports Season At Risk If 'League Of Legends' Players Strike Continues
Portfolio Pulse from Franca Quarneti
Riot Games, owned by Tencent Holdings Ltd. (OTC:TCEHY), has announced a two-week delay in the start of the North American League of Legends summer season due to a player strike. The walkout was sparked by Riot Games' decision to remove the requirement for teams to field an amateur group, which could lead to job losses. If a resolution is not reached within two weeks, the entire season may be canceled and teams disqualified from the 2023 Worlds.
May 31, 2023 | 8:19 pm
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Tencent Holdings Ltd.'s subsidiary Riot Games faces a two-week delay in the start of the North American League of Legends summer season due to a player strike. If unresolved, the entire season may be canceled, potentially impacting Tencent's esports revenue.
The player strike and potential cancellation of the entire season could negatively impact Tencent's esports revenue, as Riot Games is a subsidiary of Tencent Holdings Ltd. The situation may also damage the company's reputation within the esports community, leading to a short-term negative impact on TCEHY's stock price.
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