Gaming startup Gameskraft lays off 120 employees amid government ban
Gameskraft, a major real-money gaming company founded in 2017, has let go of about 120 employees.
The move follows a government ban on real-money games and a ₹270 crore fraud case involving ex-CFO Ramesh Prabhu.
More layoffs may happen as company adapts to new rules
These cuts impact the team significantly, and more layoffs might be coming as Gameskraft deals with new rules.
Those laid off will get severance pay and health insurance until March 2026.
Company financials and government ban impact
Even though revenue jumped nearly 14% to ₹4,009 crore in FY25, profits dropped by 25% thanks to tax hikes and accounting changes.
After the government ban, Gameskraft closed its main real-money gaming operations to stay compliant.
Industry-wide issue with other companies also laying off employees
Gameskraft isn't alone—other Indian gaming companies like Zupee and MPL are also shedding jobs as tighter regulations shake up the industry.
It's a tough time for real-money gaming across India right now.