News

Nazara Technologies Ltd.’s associate company, Moonshine Technologies Private Limited, which runs PokerBaazi and other card-based platforms, has stopped offering real-money online gaming. The decision comes after the Parliament passed the Online Gaming Bill, 2025. Nazara holds a 46.07 per cent stake in Moonshine.

In a stock exchange filing, the company said, "We wish to inform that, as a matter of abundant caution and in due respect of the Government’s mandate, Moonshine Technologies Private Limited (‘Moonshine/Pokerbaazi’), an associate company in which Nazara Technologies Limited holds a 46.07 per cent stake, has ceased offering real money online gaming operations."

Reportedly Moonshine’s revenue isn’t included in its financial statements, so it does not affect Nazara’s revenue or EBITDA.

Add Zee Business as a Preferred Source

PokerBaazi, backed by marquee investors like Nikhil Kamath and Madhusudan Kela, and previously Rekha Jhunjhunwala, was one of India’s prominent real-money gaming platforms.

Also Read:Nazara shares plunge 22% in two days amid crackdown on real-money gaming 

The Online Gaming Bill, 2025, which passed the Rajya Sabha on Thursday, bans real-money fantasy contests, poker, rummy, and other pay-to-play platforms. It also prohibits advertisements and financial transactions linked to such games, citing addiction, psychological distress, and financial risks.

Popular apps like Dream11, Mobile Premier League (MPL), My11Circle, RummyCircle, Junglee Games, WinZO, Howzat, SG11 Fantasy, GamesKraft (RummyCulture), and PokerBaazi are expected to be directly affected. 

According to analysts, nearly 200,000 jobs could be at risk, along with Rs 25,000 crore in foreign investment and Rs 20,000 crore in tax revenue. Experts also warn that restrictions may push around 45 crore Indian users toward illegal offshore gaming platforms.

Also Read:Online Gaming Bill is coming! Dream11 'pauses' pay-to-play contests, tells users their balance is safe & available for withdrawal 

Defending the move, Union IT and Railways Minister Ashwini Vaishnaw said the legislation aims to protect families and youth while encouraging safe segments such as e-sports and casual online games. "Online money games are prohibited. Youth and children addicted, families ruined. Massive frauds, credit card debt, even suicides," he said, adding that the government chose household safety over revenue.

The bill categorises online gaming into three segments: e-sports, online social games, and money-based gaming. While e-sports will get formal recognition and government support, money-based games have been banned. The legislation also proposes a central authority to ensure regulation, enforce compliance, and support innovation in non-monetary online gaming.

With both Houses of Parliament having passed the bill, it will now go to the President for assent before becoming law.

(With inputs from agencies)

Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.

LATEST NEWSBy accepting cookies, you agree to the storing of cookies on your device to enhance site navigation, analyze site usage, and assist in our marketing efforts.