 "Games24x7, Baazi among RMG firms hit by layoffs after online gaming ban")
Employees of real money gaming (RMG) companies are feeling the heat of the new online gaming law, which has banned all RMG formats such as ludo, poker and rummy.
Gaming majors, including Games24x7 and Baazi Games, are in the process of laying off more than 50 per cent of their employees, said sources.
The layoff plan comes on the back of a complete shutdown of the RMG business at various companies. This has prompted firms to introduce steep cost cuts even as they pivot to newer business ventures, two people with knowledge of the matter said.
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Games24x7 has an employee base of more than 700 whereas Baazi Games’ parent Moonshine Technology has over 200 employees, data from market intelligence platform Tracxn shows. Baazi operated online poker platform PokerBaazi.
“Layoffs were expected after online money gaming was introduced. There may be further job cuts, starting with non-critical operations while retaining some parts of the tech function,” a source at one of the RMG firms said.
Games24x7 and Baazi Games did not respond to Business Standard’s request for a comment till the time of going to press.
Last week, Dream11 co-founder Harsh Jain had ruled out the possibility of layoffs at his company.
Games24x7 has raised a total of $106 million in funding, according to Tracxn data.
Publicly-listed firm Nazara Technologies had picked a 47.7 per cent stake in Moonshine Technology for ₹832 crore.
“More RMG companies are expected to hand pink slips to employees in the coming weeks,” a second source said.
Companies such as Mobile Premier League (MPL), WinZO, Zupee, Paytm’s First Games, Head Digital Works and Gameskraft, among others, have suspended all forms of RMG offerings on their platform in compliance with the latest law.
The Promotion and Regulation of Online Gaming Act, 2025, which was passed in August, outlines jail terms of up to three years and fines of up to ₹1 crore for anyone offering RMG in the country. It also prohibits banks from working with companies providing such services.
- Companies feeling heat of new online gaming law
- Gaming majors Games24x7, Baazi Games may layoff over 50 per cent staff
- This comes after complete shutdown of RMG businesses.
- Firms to pivot to newer business ventures
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