OneVerse’s Acquisition of Spartan Poker Signals $120M Acquisition Expansion
- ByStartupStory | February 6, 2024
Metaverse and gaming company OneVerse announced the acquisition of poker gaming firm Spartan Poker. In a statement, OneVerse assured that the management team of Spartan Poker would remain intact to ensure continued growth and value creation. Additionally, OneVerse revealed plans to finalize three more acquisitions totaling $120 million within the next three months.
“The acquisition of Spartan Poker aligns seamlessly with OneVerse’s commitment to delivering groundbreaking experiences,” stated OneVerse in a press release.
Amin Rozani, Founder and CEO of Spartan Poker, expressed excitement about the acquisition, stating, “This acquisition opens up new horizons for creativity and technological advancements.”
According to media reports, Spartan Poker underwent layoffs of approximately 125 employees in August last year due to the revision of GST rates for gaming companies. This decision, which raised the GST for gaming companies from 18% to 28% on player deposits, was described by many gaming companies as a “body blow” to the industry. Alongside Spartan Poker, other firms such as Hike Rush Gaming and Mobile Premier League also implemented layoffs to manage the impact.
Several gaming companies faced show cause notices for alleged GST evasion totaling over Rs 1.12 lakh crore during the financial years 2022-23 and 2023-24.
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