The mobile entertainment company’s stock has now lost nearly 28% since new regulations were introduced last week, throwing a wrench into the industry.
Fantasy sports platform Dream11 and the Board of Control for Cricket in India (BCCI) have mutually decided to end their three-year ₹358 crore jersey sponsorship agreement, according to reports.
This comes after both houses of the Indian parliament passed the Promotion and Regulation of Online Gaming Bill, 2025, last week. The act bans real-money online gaming, including fantasy sports, and prohibits any advertising or sponsorship of such platforms, making the association between the two parties legally untenable.
“BCCI and Dream 11 are discontinuing their relationship after the Promotion and Regulation of Online Gaming Bill, 2025, was passed. BCCI will ensure not to indulge with any such organisations ahead in the future,” BCCI Secretary Devajit Saikia told ANI on Monday.
As a result, the Indian cricket team is left without a jersey sponsor just weeks ahead of the Asia Cup.
Ban On Real Money Games
The Promotion and Regulation of Online Gaming Bill, 2025, bans “harmful” online money gaming platforms, citing potential psychological risks.
“In the interest of society, it is the responsibility of the government and Parliament to act firmly against such recurring social evils,” IT Minister Ashwini Vaishnaw told the Parliament on Thursday.
The law also prohibits advertising of such platforms, blocks payments through banks and intermediaries, and imposes penalties of up to three years in jail or fines of ₹1 crore for operators. Advertisers face up to two years in jail or fines of 50 lakh rupees. E-sports and social games will be regulated separately, with subscriptions allowed but no wagers.
Nazara’s Slump Continues
Nazara Technologies’ shares fell by over 12% on Monday, dragging the stock down by more than 27% in the past four sessions. It was among the top 5 trending stocks on Stocktwits.
Last week, its associate firm Moonshine Technologies, which operates a card-based online gaming platform PokerBaazi, suspended its real-money online gaming operations. Nazara has a 46.07% stake in Moonshine Technologies.
Online Gaming Gloom
India’s online gaming industry, supported by venture capital giants such as Tiger Global and Peak XV Partners, was projected to grow into a $3.6 billion market by 2029.
India’s biggest fantasy sports platform, Dream11, has shut down its real-money gaming arm. Regarding users’ funds, the platform has assured that account balances are safe and users can withdraw their money from the app.
Parent company Dream Sports is expected to pivot towards ventures such as FanCode, Sportz Drip, Cricbuzz, and Willow TV.
Gameskraft’s online rummy app RummyCulture has temporarily suspended cash transactions and gameplay services, while Zupee has suspended paid games but kept the platform operational with free games like Ludo Supreme, Ludo Turbo, Snakes & Ladders, and Trump Card Mania accessible to all users.
Mobile Premier League (MPL) announced the suspension of all its real-money offerings in the country in a post on LinkedIn.
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