Mumbai, Aug 25 (IANS) Shares of online gaming companies continued to fall sharply on Monday after the approval of the Promotion and Regulation of Online Gaming Bill, 2025.
Nazara Technologies shares fell 6.29 per cent, trading at Rs 1,084. During the intra-day trading, shares had dipped 11 per cent, the lowest level for the stock in over three months. The gaming stock has dropped 22 per cent in the last five days.
Delta Corp shares fell 2.45 per cent and were trading at Rs 85.24 apiece at 12.15 pm. The stock has fallen 6.20 per cent in the last six months and is down 23.29 per cent YTD.
The law bans online money games that require users to make deposits with the expectation of winning money. Analysts expect that the new law, which impacts the country’s $3.8 billion gaming industry, will affect around 2 lakh jobs, Rs 25,000 crore in foreign direct investment, and Rs 20,000 crore in tax revenues.
The Act imposes 3 years of imprisonment and Rs 1 crore in fines for those found offering, helping, abetting, inciting, or indulging in RMG. Further, the bill proposes two years in prison or a Rs 50 lakh fine for advertising, promoting, or sponsoring such games. Further, it recommends a regulator for e-sports, educational platforms, and social games.
Minister for Electronics and Information Technology, Ashwini Vaishnaw, termed online money games a ‘public health risk’ while presenting the bill in the Rajya Sabha. Nearly 45 crore Indians are losing close to Rs 20,000 crore every year to real-money online games, according to government estimates.
In Karnataka alone, 18 suicides in the past three years were connected to online money games. In Mysuru, a family of three died by suicide after losing Rs 80 lakh.
Several real money gaming (RMG) companies are expected to file writ petitions this week in high courts against the Online Gaming Act, according to multiple media reports.
Gaming companies such as Dream Sports, Gameskraft, Mobile Premier League (MPL) and Zupee had announced that they suspended games involving real money on the platforms after the government passed the ‘Promotion and Regulation of Online Gaming Bill 2025’.
–IANS
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