Nazara Tech says Pokerbaazi suspends real money gaming; Stock set for worst week since listing

Nazara Technologies Ltd. on Friday, August 22, said its associate company Moonshine Technologies Pvt. Ltd. (Pokerbaazi) has ceased real money online gaming operations.

Nazara Tech holds 46.07% stake in the company.

It said the move comes "as a matter of abundant caution and in due respect of the Centre's mandate."

The company said it will evaluate the future course of action following the enactment of the Promotion and Regulation of Online Gaming Bill, 2025, which the Parliament passed on Thursday, August 21.

The bill aims to ban all forms of online money gaming. It also seeks to stop advertisements of online money games, along with prohibiting banks and financial institutions from facilitating the transactions for any such online games.

The bill also outlines that any person offering such a service would face imprisonment of up to three years or a fine up to ₹1 crore or both.

On another note, sources told CNBC-TV18 that gaming companies are likely to approach the Centre for clarity on key provisions of the bill.

Nazara Tech shares were trading 3.75% lower at ₹1,160 apiece. The stock has declined 16.5% in the last five trade sessions. This is set to be the worst trading week that the stock has had since its listing.

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