Games24x7, the parent company of My11Circle and RummyCircle, has reportedly started another round of job cuts after the Indian government banned real-money gaming across the country. About 400 employees are set to lose their jobs in this round, which is the company’s second round of layoffs in just a few months, reports Moneycontrol. Earlier in May 2025, Games24x7 had laid off around 180 employees as part of restructuring. The latest job cuts are directly linked to the ban on cash-based games, which has severely hit the company’s primary business model.
The timing of these latest job cuts becomes critical as they come when Games24x7 was witnessing strong revenue growth but still struggling with losses. In FY23, the company reported operating revenues of around ₹1,988 crore (a 70% rise from the previous year). However, the company still posted a net loss of ₹199 crore, though this was lower than the ₹281 crore loss it reported in FY22. And with the government’s ban now shutting down its main cash-based platforms, the company faces even serious difficulty in keeping its operations sustainable.
Meanwhile, in response to the regulatory changes, Games24x7 is expected to focus more on free-to-play games that do not involve real-money transactions. But these formats are comparatively less profitable and may not fully replace the revenue lost from its real-money business. Notably, the company has not issued an official statement on the layoffs yet.
Clearly, Games24x7 is not the only firm hit hard by the government’s decision. The wider online gaming industry in India is also struggling to adjust. Mobile Premier League (MPL), one of the biggest players, is reportedly letting go of around 60% of its Indian workforce, which could mean between 300 and 700 employees losing their jobs. The company has told staff that the ban has completely wiped out its revenue from India. Similarly, PokerBaazi’s parent company is reported to be cutting over 200 jobs (~ 45% of its workforce), as the new rules banning cash-based games put serious pressure on its main business operations.
Despite losing a significant portion of their revenues, some big names from the real-money gaming industry, like Dream11 and MPL, have reportedly chosen not to challenge the new online gaming law. But at the same time, another gaming major, A23’s parent company, Head Digital Works, has already challenged the new law in the Karnataka High Court. The company argues that games like rummy and poker are skill-based and should not be treated as gambling. It has asked the court to declare the law unconstitutional for these games. The newly imposed rules become even more significant as estimates suggest that India’s online gaming sector could grow to around $4 billion by 2030. However, the new restrictions on real-money games could severely affect this projected growth.
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