Nazara Technologies Shares Tumble 23% in Two Days as Online Gaming Bill Spooks Investors
Nazara Technologies quickly moved to reassure investors, stating that it has no direct involvement in real-money gaming. According to its latest financial disclosures for Q1 FY26, the company reported that RMG contributed zero revenues and EBITDA.
The Online Gaming Bill 2025 aims to regulate the fast-growing digital gaming industry in India. Nazara clarified that Moonshine is an associate company, in which it has invested about Rs. 805 crore through equity shares and an additional Rs. 255 crore via compulsory convertible instruments.
Platforms like PokerBaazi are expected to be directly impacted by the upcoming regulations. However, as Nazara neither holds a majority stake nor exercises control, Moonshine’s results are not consolidated into its financial statements.
Analysts at ICICI Securities have shared fresh reports highlighting sectoral opportunities. “Accordingly, the company does not anticipate any material adverse impact on its reported revenue or EBITDA from the proposed bill,” Nazara said in a stock exchange filing.
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