They also added that PokerBaazi’s revenue is not consolidated in the company’s financial statements. Essentially that PokerBaazi’s revenue has no impact on the company’s reported revenue or EBITDA. PokerBaazi’s contribution to profit after tax as a share of profit and loss by associate is negative in the first quarter.
Finally, the company does not expect any material adverse impact on the operating financial on the back of this new regulation.
Further, India’s top three online gaming industry associations have written to Union Home Minister Amit Shah, seeking urgent intervention against the proposed Online Gaming Bill, which aims to outlaw money-based digital games.
The All India Gaming Federation, E-Gaming Federation and Federation of India Fantasy Sports, representing major players, including MPL, Zupee, Nazara, Games24x7, Junglee Games and Dream11, warned that the legislation could backfire by driving crores of users into illegal matka and offshore gambling networks.
