Nazara Technologies Share Price Falls 8% After Online Gaming Bill Clears Lok Sabha

Market Performance

Nazara Technologies share price came under sharp pressure on Thursday, August 21, after the Lok Sabha passed the Promotion and Regulation of Online Gaming Bill, 2025.

• At 9:18 a.m., the stock was trading at ₹1,125, down 7.8% on the NSE.
• This marked its lowest level in 15 weeks.
• In the previous session, Nazara Technologies share price had already dropped nearly 13%.

Meanwhile, Delta Corp, another player in the gaming space, erased intraday losses to close with minor gains.

Main News

The newly passed bill seeks to prohibit all pay-to-play online games, covering both games of skill and chance. If implemented, the law could halt operations of regulated real-money gaming (RMG) platforms across India.

The government defended its move by pointing to social risks and mental health concerns, especially the addictive nature of online money games.

Company Details

Nazara Technologies clarified its position through a stock exchange filing:

• The company has no direct exposure to real-money gaming (RMG) businesses.
• Its only indirect exposure is via a 46.07% stake in Moonshine, the parent company of PokerBaazi.
• According to the latest financial disclosures, RMG contributed NIL to both revenues and EBITDA of Nazara.

CEO and founder Nitish Mittersain acknowledged that Nazara’s investment of ₹805 crore in PokerBaazi could face risk if RMG is banned. However, he stressed that Nazara’s core business remains strong, with opportunities in other segments.

Financial Snapshot (RMG Exposure)

• Revenue Contribution from RMG: NIL
• EBITDA Contribution from RMG: NIL
• Stake in Moonshine: 46.07%
• Investment in PokerBaazi: ₹805 crore

Summary

The passage of the Online Gaming Bill has directly impacted Nazara Technologies share price, which extended its decline for a second consecutive session.

While the company confirmed limited exposure to real-money gaming, the indirect stake in PokerBaazi remains a concern. At the same time, Nazara’s other verticals—including early learning, publishing, gaming arcades, and eSports—remain unaffected.

The situation highlights a crucial moment for the online gaming industry in India, with the fate of RMG platforms now tied to the final implementation of the bill.