India’s Gaming Boom Hits a Wall India’s fast-growing online gaming industry has just been dealt one of its biggest blows yet. Games24x7, the parent company of My11Circle, has
India’s fast-growing online gaming industry has just been dealt one of its biggest blows yet. Games24x7, the parent company of My11Circle, has laid off nearly 400 employees after the government’s sweeping ban on real-money gaming shook the sector to its core.
Once a rising star backed by heavyweights like Tiger Global, The Raine Group, and Malabar Investment Advisors, the company is now being forced into survival mode.
The Promotion and Regulation of Online Gaming Act, 2025 has upended the business models of fantasy sports platforms, poker, and rummy operators.
With real-money formats banned, companies that once thrived on user deposits are scrambling to pivot toward free-to-play models — games that generate revenue through ads and in-app purchases rather than entry fees.
But the transition isn’t smooth, and for many employees, it’s proving costly.
This isn’t the first time Games24x7 has trimmed its workforce. Back in May, the company cut 180 jobs after the Supreme Court began examining whether online gaming companies should be subjected to higher Goods and Services Tax (GST).
Now, just months later, another 400 employees are out of work — making this one of the largest rounds of layoffs in India’s gaming sector to date.
For now, the company hasn’t confirmed whether it will follow in the footsteps of Head Digital Works (A23), which has mounted a legal challenge against the ban. But industry insiders say pressure is mounting on Games24x7 to either fight back in court or completely reinvent its business model.
Despite the turmoil, Games24x7 has been posting impressive topline growth. In fiscal year 2023:
But profitability has remained elusive. And with the new regulations effectively banning its core business, the road to financial stability looks even more uncertain.
Games24x7 isn’t alone. Rival Mobile Premier League (MPL) recently laid off 60% of its Indian workforce, while other platforms brace for what could be a prolonged regulatory battle.
The once-booming real-money gaming sector, hailed as a driver of India’s digital economy, is suddenly on shaky ground. For many startups, this could be a make-or-break moment.
As Games24x7 restructures, its focus is expected to shift toward:
But whether these pivots can replace the massive revenues once fueled by real-money gaming remains an open question.
Behind the headlines and numbers are the 400 employees now out of jobs — many of whom helped build My11Circle into a household name in fantasy sports. Their layoffs are a stark reminder that regulatory decisions ripple far beyond boardrooms, hitting livelihoods directly.
Games24x7’s massive layoffs mark a turning point not just for the company, but for India’s entire online gaming industry.
The dream of building billion-dollar gaming unicorns on the back of fantasy sports and real-money platforms has collided head-on with government regulation.
For My11Circle’s parent, the fight for survival has begun. The question is: can Games24x7 reinvent itself before it’s game over?
