After MPL And PokerBaazi, Games24x7 Cuts Jobs As Govt Ban Hits Real-Money Gaming Sector

India’s online gaming sector is in turmoil, and Games24x7 is the latest name to take a hit. According to the tracking site Layoffs.fyi, the company – best known for running RummyCircle and fantasy sports platform My11Circle – has laid off 400 employees after the government’s blanket ban on real-money games. The decision has left many workers anxious and marks another blow to an industry that was once booming. Also Read: India Passes Bill to Prohibit Real-Money Gaming Apps: What The Bill Means For Dream11, MPL And Others

This is the company’s second round of job cuts in just three months. In May this year, Games24x7 had already let go of around 180 people. Before the fresh layoffs, its current strength stood at about 700-750 employees – with the latest round impacting a sizable share of its workforce. Also Read: Dream11, Winzo, My11Circle At Risk As Online Gaming Bill 2025 Targets Money-Based Games

The crisis isn’t limited to Games24x7. Mobile Premier League (MPL) recently announced a large downsizing of its India team, with plans to let go of 60-80 percent of its 500-600 employees. Similarly, PokerBaazi’s parent company, backed by Nazara Technologies, has laid off more than 200 workers – nearly 45 percent of its workforce. Also Read: Dream11’s format not compliant with High court judgements 

The trouble started after Parliament passed a new law on August 22, banning online money games where users deposit funds expecting winnings in return. Since then, real-money gaming platforms have been forced to suspend cash-based contests, leaving only free-to-play versions active.

Founded in 2006 by Bhavin Pandya and Trivikraman Thampy, Games24x7 was once seen as a major success story. Games24x7 was valued at $2.5 billion in 2022 after a $75 million funding round led by Malabar Investment, Tiger Global, and Raine Group. The platform claims over 100 million users and has offices in Bengaluru, Mumbai, and New Delhi.

On the financial front, the company had been showing steady progress. In FY23, its revenue shot up 70 percent to Rs 1,988 crore, while losses came down to Rs 199.5 crore. The rummy business continued to bring in profits, but the heavy push behind My11Circle – its fantasy sports arm and IPL partner until 2029 – kept overall earnings under pressure.