PokerBaazi parent Moonshine shuts real money gaming following govt ban, says Nazara Tech
Nazara Technology has invested Rs 805 crore in Moonshine via equity (cash and stock) and holds compulsory convertible shares worth Rs 255 crore.
ADVERTISEMENT
PokerBaazi parent firm Moonshine Technology has ceased real money online gaming operations after the Indian parliament passed the Promotion and Regulation of Online Gaming Bill, 2025, on Thursday.
Nazara Technology, which holds a 46.07% stake in Moonshine, informed the stock exchanges on Friday about the latest development. The online gaming firm has invested Rs 805 crore in Moonshine via equity (cash and stock) and holds compulsory convertible shares worth Rs 255 crore.
Further, Nazara said that it would evaluate the future course of action following the enactment of the Bill.
“We wish to inform that, as a matter of abundant caution and in due respect of the Government’s mandate, Moonshine Technologies Private Limited (“Moonshine/Pokerbaazi”), an associate company in which Nazara Technologies Limited (the “Company”) holds a 46.07% stake, has ceased offering real money online gaming operations,” Nazara Tech said in a statement.
Meanwhile, Nazara Tech shares declined 16.5% in the last five trade sessions.
Navkiran Singh, Co-founder of Baazi Games, expressed shock and sadness as he announced the discontinuation of all games and tournaments from the platform.
Singh, who has nurtured Baazi Games for 12 years, promised users that pending rakebacks would be credited and that wallets would remain accessible for withdrawals.
He called the passing of the bill "the darkest day in the history of Poker in India," but remained optimistic that the decision might be revisited, framing it as "a pause and not a goodbye."
This week, the Centre passed the online gaming bill designed to curb addiction, financial ruin, and social distress caused by predatory gaming platforms that thrive on misleading promises of quick wealth.
According to the government, the "online money gaming platforms have caused widespread harm. Families have lost their savings. Young people have fallen into addiction. In some heartbreaking cases, financial distress linked to these games has even led to suicides".
The government added that they anticipated dangers and responded with strong legislation.
