Tencent Prepared To Launch Bevy Of Games This December As Domestic Regulatory Crackdown Cools Down

  • Tencent Holding Ltd TCEHY eyed the launch of a Valorant esports league when the hit shooter title debuts in China this year, reflecting a sense of ease in the sweeping regulatory crackdown.
  • Tencent unit TJ Sports recently discussed setting up the competition with top Chinese esports players, Bloomberg reports
  • Tencent could kick off a tournament by the summer as it launched the game domestically.
  • Also Read: China Taps Alibaba, Tencent To Beat US Sanctions
  • Launched globally in 2020, Valorant has become one of the most popular esports titles, vying for a multibillion-dollar market along with rival shooters like Activision Blizzard, Inc's ATVI Overwatch
  • Tencent won approval to roll out Valorant and Pokémon Unite only in December.
  • Analysts, including Morgan Stanley, raised their price targets on Tencent in recent weeks, anticipating a recovery in growth as restrictions ease and efforts to sell video ads gain momentum.
  • Price Action: TCEHY shares closed at $48.28 on Tuesday.
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