Bengaluru-based online gaming start-up Gameskraft Technologies, the parent company of RummyCulture, has acquired office space in the city for Rs 129.99 crore, according to the documents accessed by Propstack. Interestingly, the company has made the move despite the prevailing uncertainty over a new law banning real money games in Karnataka.

According to a report by Anarock, three major cities in south India — Bengaluru, Hyderabad, and Chennai — dominate India’s office market with the contribution of 66  percent of the total demand for office space during the last financial year 2020-21.

“This is positive news for the overall office sector and Bengaluru in particular. Online gaming is one of those sectors which has been thriving during the pandemic. And with the gig economy and concepts like work-from-home becoming more mainstream, the gaming industry will create more opportunities for employment and recreation,” said Raja Seetharaman, co-founder Propstack to Moneycontrol.

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Gameskraft bought the property spread across 1.21 lakh sq ft from Embassy Property Developments, the documents showed. The property called Embassy Techsquare Delta is situated in Marathahalli, Bengaluru’s eastern suburb that is a commercial hub and has residential areas. The deal for the 1.21 lakh sq ft property was registered on 31 August 2021. 

The recent KPMG report revealed that gaming is valued at just under $1 billion and is expected to grow at 41 percent a year and by 2024 it will touch $3.75 billion in India, with subscriptions, in-app purchases, advertising, and platform fees comprising the revenue streams. Post lockdowns, the ecosystem saw some of the biggest gaming deals inked last year.

As per the document, Gameskraft has bought the sixth, seventh and eighth floors of the building. The recent KPMG report revealed that gaming is valued at just under $1 billion and is expected to grow at 41 percent a year and by 2024 it will touch $3.75 billion in India, with subscriptions, in-app purchases, advertising, and platform fees comprising the revenue streams. Post lockdowns, the ecosystem saw some of the biggest gaming deals inked last year.