Overview

• India’s Promotion and Regulation of Online Gaming Bill, 2025 passed Parliament and received presidential assent on Aug. 22, banning online money games while encouraging eSports and social gaming.
• Nazara disclosed that its associate Moonshine Technologies, in which it holds a 46.07% stake, has ceased real‑money gaming operations that include PokerBaazi.
• Nazara’s shares slid 17.52% over three sessions, closing Friday at ₹1,155.75 after an intraday low of ₹1,145.55.
• ICICI Securities cut the stock to reduce, lowered its target price to ₹1,100 from ₹1,500, and assigned zero value to Moonshine in its valuation.
• Nazara said real‑money gaming contributed nothing to Q1 FY26 revenue and it does not expect a material impact on reported revenue or EBITDA.