Nazara Technologies on Wednesday said the Cabinet-approved Promotion and Regulation of Online Gaming Bill, 2025 will not have a material impact on its financial performance, as the company has no direct exposure to real money gaming (RMG) operations.
Nazara, which is listed on the Indian exchanges, had earlier invested in platforms such as PokerBaazi and Classic Rummy. However, in an exchange filing, the company said revenue and EBITDA contributions from RMG were “NIL” in the first quarter of FY26.
“Nazara has no direct exposure to real money gaming (RMG) businesses. As per its latest reported financials (Q1-26), the contribution to Revenues and EBITDA by RMG business is NIL,” it said.
Also Read: Centre to table Online Gaming Regulation Bill in Lok Sabha today
The company’s only indirect exposure is through its 46.07% stake in Moonshine Technologies, which operates PokerBaazi. Nazara clarified that since it does not hold a majority stake or exercise control, Moonshine’s revenue is not consolidated in its financials. “The contribution to PAT by Moonshine as share of profit & loss by associate is negative in Q1-26,” the company added.
Nazara said it had invested ₹805 crore in Moonshine through a mix of cash and stock, along with compulsory convertible shares worth ₹255 crore.
The company's shares on Tuesday closed at ₹1401.35 apiece on the BSE, up 0.85%.
The clarification comes a day after the Union Cabinet cleared the Online Gaming Bill, which imposes a blanket ban on online money games, whether based on skill or chance, citing risks of addiction, financial distress, and cybercrime.
The legislation proposes jail terms of up to three years and fines of up to ₹1 crore for companies operating money gaming services, while banks and advertisers face penal provisions if they facilitate or promote such games.
The bill, drafted by the Ministry of Electronics and Information Technology, is likely to be presented in Parliament today by IT minister Ashwini Vaishnaw. It seeks to clearly separate money-based gaming from e-sports and social gaming, while promoting the AVGC (animation, visual effects, gaming and comics) sector.
Nazara, which is listed on the Indian exchanges, had earlier invested in platforms such as PokerBaazi and Classic Rummy. However, in an exchange filing, the company said revenue and EBITDA contributions from RMG were “NIL” in the first quarter of FY26.
“Nazara has no direct exposure to real money gaming (RMG) businesses. As per its latest reported financials (Q1-26), the contribution to Revenues and EBITDA by RMG business is NIL,” it said.
Also Read: Centre to table Online Gaming Regulation Bill in Lok Sabha today
The company’s only indirect exposure is through its 46.07% stake in Moonshine Technologies, which operates PokerBaazi. Nazara clarified that since it does not hold a majority stake or exercise control, Moonshine’s revenue is not consolidated in its financials. “The contribution to PAT by Moonshine as share of profit & loss by associate is negative in Q1-26,” the company added.
Nazara said it had invested ₹805 crore in Moonshine through a mix of cash and stock, along with compulsory convertible shares worth ₹255 crore.
The company's shares on Tuesday closed at ₹1401.35 apiece on the BSE, up 0.85%.
The clarification comes a day after the Union Cabinet cleared the Online Gaming Bill, which imposes a blanket ban on online money games, whether based on skill or chance, citing risks of addiction, financial distress, and cybercrime.
The legislation proposes jail terms of up to three years and fines of up to ₹1 crore for companies operating money gaming services, while banks and advertisers face penal provisions if they facilitate or promote such games.
The bill, drafted by the Ministry of Electronics and Information Technology, is likely to be presented in Parliament today by IT minister Ashwini Vaishnaw. It seeks to clearly separate money-based gaming from e-sports and social gaming, while promoting the AVGC (animation, visual effects, gaming and comics) sector.
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