India's gaming ban hits big: Flutter, Nazara, and more take major losses
India's real-money gaming ban, rolled out in August, has shaken up the industry.
Big international players like Flutter Entertainment booked an impairment of $556 million after Junglee Games halted money-based rummy operations.
Clairvest Group from Canada wrote off its investment in Head Digital Works, the operator of A23 Rummy, due to the ban on real-money gaming.
Indian companies and startups feel the crunch
Indian firms haven't been spared—Nazara Technologies took a ₹914.7 crore hit due to changes affecting Moonshine Technologies, while Delta Corp saw its gaming stakes drop by ₹378.3 crore.
Even fintech giant Paytm felt the blow, with profits plunging 98% after a ₹190 crore write-off tied to First Games Technology.
The fallout has pushed companies like Hike, WinZo, and MPL to scale back or exit India entirely, showing just how far-reaching this ban really is.