Flutter Entertainment plc has confirmed the fast suspension of its real-money gaming operations in India following the sudden passage of the Promotion and Regulation of Online Gaming Bill. The laws, which enforces a blanket ban on all real-money gaming actions — together with skill-based video games comparable to rummy and poker — was launched to Parliament on August 20, handed by the higher home, and signed by the President simply two days later, leaving operators with no time to arrange.
The firm ceased operations for its Junglee model on August 22 to make sure full compliance with the brand new legislation. Flutter expressed robust disappointment with the abrupt regulatory change, noting that the choice was made with out session with stakeholders or consideration of the broader financial influence.
Sudden Legislation Forces Immediate Exit
The ban was fast-tracked by means of Parliament, catching the business off guard. Flutter stated that this unprecedented tempo prevented any dialogue with policymakers on the potential penalties for operators, workers, and shoppers.
The firm had anticipated that its Indian enterprise would ship round $200 million in income and $50 million in adjusted EBITDA in 2025, with roughly half of that revenue anticipated in the second half of the 12 months. The sudden suspension is now anticipated to price Flutter round $100 million in income and $25 million in EBITDA, in accordance with inside estimates.
Peter Jackson, Flutter’s CEO, criticized the legislative course of, stating in the company’s press release: “I am extremely disappointed with the sudden changes to the regulatory landscape in India. Over the last four years Junglee has invested significantly in its local market, building a workforce of over 1,100 employees to deliver innovative skill-based gaming products to Indian customers. Central to this has been a strategy which prioritizes consumer protections and responsible gaming.”
Evaluating Legal and Operational Adjustments
While operations have been halted, Flutter confirmed that it’s exploring authorized avenues to revive the decades-old constitutional protections that traditionally safeguarded skill-based video games in India. The firm can be assessing the accounting implications of the shutdown, together with potential non-cash impairments to its Junglee unit, with further monetary disclosures anticipated in the approaching weeks.
Jackson warned that the ban might inadvertently push gamers towards unregulated markets that lack client safeguards and financial contributions. “We believe this change will drive customers to the unregulated market, offering limited consumer protections and providing no contribution to the local economy,” he stated. “We believe in regulatory frameworks that put customers first, and are evaluating options to restore skill-based games in the Indian market.”
The ripple results of the ban prolong past Flutter. Fantasy sports activities platforms, together with Dream11, have additionally halted real-money choices. Dream11, which had a $44 million sponsorship deal with the Board of Control for Cricket in India (BCCI), knowledgeable the board that it’ll withdraw from its function as a key sponsor of India’s nationwide cricket groups as a result of sharp decline in projected income.
Together with rival platform My11Circle, Dream11 has contributed roughly $125 million in sponsorship funding to Indian cricket by means of nationwide crew and IPL partnerships. The lack of this monetary help has compelled the BCCI to seek for substitute sponsors on brief discover, including additional disruption to the sports activities ecosystem.
Flutter emphasised its dedication to the Indian market, noting its concentrate on accountable gaming and controlled operations throughout its years of funding in the nation. While the corporate adapts to the brand new regulatory atmosphere, it stays dedicated to discovering pathways to revive authorized readability for skill-based video games and proceed its long-term technique in the area.
