Dream Sports, the parent company of Dream 11, has said the new online gaming law resulted in loss of 95 per cent in group’s revenue, but ruled out employee layoffs asserting it will concentrate efforts now on scaling portfolio companies including FanCode, DreamSetGo, Dream Game Studios and Dream Money.
Dream Sports, in a statement said Dream11 has always followed and will continue to follow the law in letter and spirit.
“While this change in law has resulted in a loss of approximately 95 per cent of our group’s revenue, we remain committed to building a great Indian sports company, driven by AI and the creator economy,” it said.
Rebuilding business from the ground up will require the collective strength of people, it said assuring that as talent-first organisation, employees would not be laid off.
“In parallel, we will sharpen our focus on scaling our other Dream Sports portfolio companies, namely FanCode, DreamSetGo, Dream Game Studios, and Dream Money, as part of our mission to ‘Make Sports Better’,” the statement said.
The company further said it is deeply grateful for the continued support of users, partners, media and the wider ecosystem, and remains committed to navigating through these “tough times”.
Dream11 is also no longer the title sponsor of the Indian cricket team and the Board has initiated the process to find a replacement.
The jolt to real money online gaming space came after Promotion and Regulation of Online Gaming Bill, 2025 was passed by Parliament, banning on all forms of online money games, while promoting e-sports and online social games.
Now an Act, after the President’s nod, it aims to crackdown on rising instances of addiction, money laundering and financial fraud through such applications.
Following the passage of the Bill in Parliament, online gaming platforms, including Dream11, My11Circle, WinZO, Zupee, and Nazara Technologies-backed PokerBaazi, have halted their real-money online gaming offerings.
Last week, IT Minister Ashwini Vaishnaw told PTI that online money gaming has become a serious social and public health issue, with proven significant negative impact on society.
“Our endeavour is to promote e-sports and social gaming, online social gaming, and we would like India to become a game-making hub. For that, a lot of efforts are already being made,” Vaishnaw said.
The minister said so far as digital technologies go, online gaming has emerged as a “major sector” with three main segments.
“Two segments, e-sports and online social gaming, are good for the society. We are promoting two out of three segments… These two will get legal recognition and they will be promoted. And this bill will create an authority which basically creates programs and schemes which promote e-sports and online social gaming,” the minister had said.
The third segment, online money gaming, is causing harm to the society, the Minister had said, adding that this has emerged as a major social and public health problem.
IT Secretary S Krishnan said last week that the proposed the rules in-the-works will provide a framework for promotion and regulation of e-sports and online social games, as well as the constitution of the regulatory authority envisaged in the legislation.
(This report has been published as part of the auto-generated syndicate wire feed. Apart from the headline, no editing has been done in the copy by ABP Live.)
