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

Tencent Holding Ltd (OTC: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.
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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 (NASDAQ: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.