Company: GCL
Filing Date: 2025-08-27
Form Type: DRS
Source: 0001213900-25-080905
Chunk: 38

Company: GCL Global Holdings Ltd
Filing Date: 2025-08-27
Form: DRS
Chunk 38
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 development area, we
may be required to obtain new licenses and will be subject to additional laws and regulations in the markets we plan to operate in. For
example, depending on the types of games that we offer and distribute to the customers and the way of distribution, we may need to obtain
permits or licenses under the Gambling Control Act 2022 of Singapore and the Films Act 1981 of Singapore. Please refer to “Business—Regulations Applicable to the Company” for further information.

Our business is subject
to regulations from various regulators within each jurisdiction it operates in, and such regulators may not always act in concert. As
a result, we may be subject to requirements which separately may not be materially adverse to us but when taken together could have a
material impact on us. In addition, we are subject to differing, and sometimes conflicting, laws and regulations in the markets in which
it operates.

In addition, since we operate
in different jurisdictions in Asia, we are subject to the risk that regulatory scrutiny or actions in one country may lead to other regulators
taking similar actions. We may enter into exclusive regional partnership agreements with our suppliers or customers. Although we are
not aware of any violations of competition laws in connection with our business model, we cannot assure you that we will not be subject
to any inquiry, investigation, or even penalty from regulatory agencies in the future. In the event that a regulatory agency in one of
the countries or jurisdictions initiates action against us, it may lead to other regulators taking similar actions.

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Our actual or perceived
failure to comply with applicable regulation could expose it to regulatory actions, including, but not limited to, potential fines, orders
to temporarily or permanently cease all or some of our business activities. Any such actions could materially and adversely affect our
business, financial condition, results of operations and prospects.

Our international operations are, and our strategy to expand internationally will be, subject to increased challenges and risks.

Continuing to expand our
business to attract gamers outside of Asia is an important growth strategy of ours. Our ability to expand our business and to attract
gamers and talented employees in other international markets we may enter will require considerable management attention and resources
and is subject to the particular challenges of supporting a rapidly growing business in an environment of multiple languages, cultures,
customs, economics, legal systems, alternative dispute systems, regulatory systems, and commercial infrastructures.

Expanding our international
focus may subject us to