South East Asia had been experiencing something of a tournament poker boom until the crackdown arrested its development. Tournament fields in Macau and Manila were bustling, fed by enthusiastic players from mainland China who had qualified through play-money apps like Boyaa\u2019s.<\/p>\n
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Boyaa\u2019s stock plummeted 12 percent in the wake of the ban. As owner of the Boyaa Poker Tour (BPT), its business model relied heavily on using its play money poker app in China as a feeder for live tournaments. The BPT website shows it has yet to hold a single event in 2018.<\/p>\n<\/div>\n
Boyaa recently reported its Q2 earnings fell 34.4 percent, largely due to\u00a0\u201cthe effect of regulatory risk regarding the market rumor of the implementation of the \u2018Administrative Measures of Online Chess and Card Games.\u2019\u201d<\/p>\n
It has also said that there was \u201cinsufficient legal\u00a0basis\u201d to support the charges against its CEO,<\/em> according to its legal counsel. <\/em><\/p>\nThe People\u2019s Court disagreed.<\/p>\n","protected":false},"excerpt":{"rendered":"
The CEO of online games company Boyaa Interactive will serve a 12-month prison sentence in China for bribery. The Hong Kong-based social games outfit announced Friday that Zhang Wei had failed in his appeal to have the charges quashed by the Higher People\u2019s Court of Shenzhen and had resigned as CEO. He was initially sentenced […]<\/p>\n","protected":false},"author":36,"featured_media":88867,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[62,21,3313,10,19,60,20,14,61,22988,16693],"tags":[],"acf":[],"yoast_head":"\n
Boyaa Interactive CEO Imprisoned in China on Bribery Charges<\/title>\n\n\n\n\n\n\n\n\n\n\n\n\t\n\t\n\t\n\n\n\n\n\n\t\n\t\n\t\n