Nazara Technologies Backed Baazi Games to Lay Off Over 200 Staff After India's Real Money Gaming Ban

Baazi Games, owned by Moonshine Technology and backed by Nazara Technologies, is reducing its staff by more than 200 employees, as per the Moneycontrol report. The cuts represent close to 45% of the company’s workforce. The number may increase as the process is still in progress.

New Law Behind Job Cuts

This follows the government’s approval of the Promotion and Regulation of Online Gaming Act, 2025, on August 22, 2025. The law places a complete ban on real-money gaming in India. It prohibits deposits by users with the intention of earning winnings. After the law took effect, operators like PokerBaazi stopped all money-based contests but continued to offer free-to-play games.

Wider Industry Impact

Several gaming companies are facing similar challenges. As per news reports, Mobile Premier League (MPL) is expected to reduce 60 to 80% of its India team, amounting to nearly 300 jobs. Dream11 has said it lost about 95% of its revenue but has chosen not to downsize. Other platforms, including Paytm First Games, Gameskraft, Zupee, and Junglee Games, have suspended their real-money offerings.

​​Read more: MPL to Lay Off 60% of Staff Following Government Ban on Paid Gaming!

Nazara’s Investment in Moonshine

In September 2024, Nazara Technologies invested ₹982 crore in Moonshine Technology. This included ₹831.5 crore spent on secondary share purchases and ₹150 crore in primary capital. Nazara currently owns 46.07% of Moonshine. The company recently ended plans to buy an additional 0.96% stake worth ₹15.9 crore.

Financial Performance and Background

Moonshine Technology was founded by Navkiran Singh in 2014. The company started with PokerBaazi and later expanded into CardBaazi and SportsBaazi. In FY24, Moonshine reported revenue of ₹414.9 crore, up from ₹268 crore in FY23. EBITDA increased to ₹41.2 crore from ₹27 crore in the previous year. PokerBaazi contributes more than 85% of its revenue.

Conclusion

The ban on real-money games has triggered large-scale layoffs and restructuring in India’s online gaming sector. Baazi Games is among the first major operators to announce cuts.

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