Tencent is a major Chinese gaming company

Over the last couple of months, Chinese authorities have tightened the grip on video games. Even if big tech companies have rolled with the punches, Tencent has recently announced the shutdown of its streaming platform.

Tencent is one of the biggest gaming companies in China and Pony Ma Huateng, its creator, has never hid his ambitions of rivalling big streaming companies like Twitch with Penguin Esports. Furthermore, the company has partnered with several heavy hitters, including Riot Games and Supercell.

However, Tencent’s monopoly of the gaming market does not appeal to Beijing which has launched a crackdown on video games aimed at young people. Hence, Tencent’s decision to close Penguin Esports. As the gaming industry is changing in China, the company hopes that it will continue to be profitable in the future.

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