Shares of Nazara Technologies Ltd continued their downward spiral on Friday, falling another 5% following the cessation of real-money gaming operations by its associate company, PokerBaazi.
The decline comes in the wake of the Parliament’s approval of the Promotion and Regulation of Online Gaming Bill, 2025, which bans all forms of online money-based games.
The bill, passed by both the Lok Sabha and Rajya Sabha without debate, aims to curb addiction, financial losses, and security threats associated with real-money gaming.
Nazara Technologies clarified in an exchange filing that it has no direct exposure to real-money gaming (RMG). However, it holds a 46.07% stake in Moonshine Technologies, the parent company of PokerBaazi, which has now ceased all RMG operations in compliance with the new law.
Despite the company’s assertion that RMG contributes nil to its revenue and Ebitda, the market reacted sharply. Nazara’s stock has plunged over 17% in the past three trading sessions
