Page 2 - Gaming Industry

UPI gaming spends fall 23% in August after ban on real money games

UPI gaming spends fell sharply in August with volumes down 23% and value down 26% after the Online Gaming Act banned real money games such as rummy, poker and fantasy sports

Nazara to publish Bodycam on Fortnite, its first launch on platform

Nazara Technologies will bring Bodycam to Fortnite as an island using UEFN with tactical gameplay, multiplayer modes and high-fidelity visuals for global audiences

Gameskraft reports decline in net profit after ₹231 crore siphoning case

Online gaming firm Gameskraft Technologies Ltd has filed a police complaint against its former CFO for allegedly siphoning off over Rs 231 crore -- whose write-off led to a decline in the company's FY25 net profit. The Bengaluru-based firm on Friday reported a net profit of Rs 706 crore on a revenue of Rs 4,009 crore in the fiscal year 2024-25 (April 2024 to March 2025). This compared with Rs 947 crore net profit on a revenue of Rs 3,475 crore in the previous year. The company said FY25 was the first full year of 28 per cent GST tax on its operations. The previous year earning was factoring in a six-month impact of the newly introduced GST regime for the online gaming sector. The 2024-25 profit was also impacted by "a one-time accounting adjustment of past unsanctioned transactions amounting to approximately Rs 231 crore," it said in a statement. While the company did not elaborate on the nature of unsanctioned transactions, sources with knowledge of the matter said the write-off .

Law to regulate online gaming brought without heeding to any pressure: PM

Prime Minister Narendra Modi on Thursday said the government brought in a new law to regulate online gaming without heeding to any pressure to ensure that the future of country's youth is safeguarded. In an interaction with national awardee teachers, the prime minister said there are huge job opportunities in online gaming market and urged teachers to sensitise students about opportunities in the sector which can be tapped. "Gaming is not bad but gambling is...future of our youth must be safeguarded," Modi said, referring to the Promotion and Regulation of Online Gaming Act, 2025, recently passed by the Parliament. "India can dominate global online gaming market, if done in a right manner...there are huge job opportunities too," he said. The Promotion and Regulation of Online Gaming Act, 2025 bars all forms of online money games while promoting e-sports and other online games. The Act seeks to prohibit advertisements related to online money games and bars banks and financial ...

Govt to notify rules, authority under Online Gaming Act soon: Delhi HC

The Centre told the Delhi High Court it will soon notify rules and create an authority under the Online Gaming Act, 2025, which bans real-money games, amid a constitutional challenge

Battlefield 6 to launch without 'ray tracing' support on PC: What it means

Battlefield 6 is set to release on October 10 without ray tracing support, as Ripple Effect says the team chose to prioritise performance and smoother play over advanced visuals

Games24x7, Baazi among RMG firms hit by layoffs after online gaming ban

India's new online gaming law banning RMG formats such as ludo, poker and rummy has forced companies including Games24x7 and Baazi Games to lay off large parts of their workforce

Allow gaming cos perform legitimate transactions: Meity to banks, fintechs

MeitY has told banks and fintechs to process refunds, vendor payments and GST filings for gaming companies, while ensuring smooth user transition after the real-money gaming ban

Vaishnaw meets gaming firms to discuss user money protection, esports

Union IT minister Ashwini Vaishnaw has held a meeting with online gaming companies to discuss the protection of users' money and promotion of eSports and social games, an official source said on Monday. The meeting comes within a fortnight of Parliament passing The Promotion and Regulation of Online Gaming Act, 2025, that bars all forms of online money games while promoting e-sports and other online games. "IT Minister Ashwini Vaishnaw and officials met online gaming industry representatives today. Discussion focused on promoting eSports and social games. Points related to orderly transition and protection of users' money were also discussed. It was noted that industry has taken steps to ensure compliance with the Act," the source said. The Act has received the President's assent. The Act will come into effect after its notification by the government. Last week, banks and fintech firms, in a joint meeting with the Department of Financial Services and the Ministry of Electronics and

Statsguru: The rise and sudden fall of real-money gaming in India

RMG refers to online games where players wager real money and stand to win cash prizes

MPL to lay off 60% of local workforce after govt ban on paid gaming

As MPL focuses on free-to-play games and bolsters its business in the U.S. market, the company source said on Sunday it would let go of roughly 300 of its 500 India staff

BCCI targets ₹452 crore from Sponsorship after Dream11 exit amid gaming ban

BCCI seeks ₹452 crore from front-of-jersey sponsorship rights for 2025-28 after Dream11 ended its contract due to the government's ban on real money gaming

FinMin, MeitY assure transition period for Online Gaming Act compliance

Govt to provide transition period for banks and fintechs under Online Gaming Act 2025; compliance clarity to come once rules are notified

Govt to meet banks, fintechs on Aug 29 to discuss Online Gaming Act rollout

Senior officials from Finance and MeitY will meet banks and fintechs on Aug 29 to map enforcement of the Online Gaming Act, focusing on payment blocks, refunds and consumer safeguards

Head Digital moves Karnataka High Court against real-money gaming ban

A23 Rummy operator files first writ against the Promotion and Regulation of Online Gaming Act 2025, which bans real money games and ads, citing disruption to business and jobs

Zupee joins Gameskraft, will not challenge India's ban on RMG games

Zupee suspends deposits and paid formats, urging users to withdraw balances as it opts not to challenge India's new law banning all real money games and related advertisements

A23 parent Head Digital Works moves K'taka HC against new online gaming law

The company's move comes as most of its competitors, including Zupee, Dream11 parent Dream Sports, Pokerbaazi parent firm Moonshine Technology, and Gameskraft, have decided against opposing the law

Fantasy gaming ban wipes out ₹15000 cr of IPL Ads: Impact on your Portfolio

IPL Ads, stock prices, and mutual funds: Decoding the fallout of India's RMG Ban

Gameskraft suspends Rummy Culture, will not challenge India's RMG ban

Gameskraft, operator of Rummy Culture, has suspended all RMG services and said it will not legally challenge the new gaming ban while ensuring user withdrawals remain available

'Will not challenge new law': Rummy operator Gameskraft suspends RMG ops

The Promotion and Regulation of Online Gaming Act bans all online money games while promoting e-sports and social gaming