Gameskraft will not challenge Modi government's real-money gaming ban
What's the story
Gameskraft, a leading player in the real-money gaming sector, has announced that it will not challenge India's new online gaming law. The legislation bans all forms of real-money games in the country. A company spokesperson said, "As a responsible and law-abiding corporate entity, Gameskraft has no intention of pursuing any legal challenge to the legislation." The statement emphasized their commitment to respecting the legislative process and operating within legal frameworks.
Strategic shift
Adapting business strategy
Along with Dream Sports, Gameskraft is also gearing up to adapt its business strategy to the new law. The company has already suspended 'Add Cash' and 'Gameplay services' on its rummy apps after the online gaming law was passed by Parliament on August 22. A spokesperson for Gameskraft said they are working closely with their financial partners for a smooth withdrawal process, while assuring users that all account balances remain safe.
Compliance assurance
Assurance to stakeholders
Gameskraft has also assured its stakeholders of business continuity and regulatory clarity during this transition period. The company said it has cleared all regulatory dues and taken steps to safeguard the interests of employees, partners, vendors, and service providers. "Compliance has always been non-negotiable for us," the statement added. "While this moment brings challenges, it also brings the opportunity to reimagine what's next - responsibly, lawfully."