Company: GCL
Filing Date: 2025-09-09
Form Type: 424B3
Source: 0001213900-25-086274
Chunk: 127

Company: GCL Global Holdings Ltd
Filing Date: 2025-09-09
Form: 424B3
Chunk 127
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 reckless as to whether, such person is a terrorist or terrorist associate, or collect property or solicit financial (or related)
services, by any means, directly or indirectly, for the benefit of a person knowing that, or being reckless as to whether, the person
is a terrorist or terrorist associate. The UNATMO also requires a person to disclose his knowledge or suspicion of terrorist property
to an authorized officer, and failure to make such disclosure constitutes an offense under the UNATMO.

Competition

The market for video game
distribution and marketing in Asia is quickly evolving, and competition is intensifying as new competitors enter the market and current
competitors expand their product offerings. In order to secure licensing and distribution agreements with AAA game publishers when competing
with larger, better financed companies, we may be forced to agree to contractual terms that provide for lower aggregate payments to us
over the life of the distribution agreement, which could adversely affect our margins. Our failure to compete effectively for the distribution
right for “hit” game titles could have a material adverse effect on our business, prospects, financial condition or future
operating results.

In our video game distribution
business, we face competition primarily from other games and interactive entertainment companies, that range in size and cost structures
from small, little known local or regional distributors with limited resources to very large with greater financial, marketing, technical
and other resources than ours, such as Electronic Arts Inc. and Activision Blizzard, Inc. Small business competitors may be able to offer
more cost competitive solutions for video game distributions, due to their lower overhead costs.

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In our game publishing business,
we face competition from large developer and marketer of interactive entertainment software companies, such as Tencent Games, NetEase
Games, Sega and Sony Interactive Entertainment, that have the financial resources to withstand significant price competition, implement
extensive advertising campaigns, and utilize their substantially greater resources and economies of scale to develop competing video
games and divert sales away from our games offerings.

Competition in the interactive
entertainment software industry is based on innovation, features, playability, product quality, brand name recognition, compatibility
with popular platforms, access to distribution channels, price, marketing, and customer service. Our business is driven by the number
of hit game titles we sell, distribute and publish, which require increasing budgets for development and marketing.

We will continue to compete
effectively and strategically grow our business by focusing on (i) our ability to develop original content and