Games24x7, the parent company of the popular fantasy sports platform My11Circle, has initiated a large-scale layoff process that is expected to impact approximately 400 employees. The move comes as the online gaming sector reels from a new government ban on real-money gaming operations and mounting financial pressure.
According to sources, the layoffs began on Monday, September 1, 2025, and span across multiple departments, including marketing, finance, legal, policy, and product development. This is the second round of job cuts for the company this year, following a previous round in May that affected around 180 employees. The company’s decision is a direct consequence of the new Promotion and Regulation of Online Gaming Act, 2025, which has led to a significant disruption of its revenue model.
Games24x7, backed by prominent investors like Tiger Global Management and The Raine Group, has been under financial strain despite seeing its revenue grow in the last fiscal year. The company’s recent actions, which include a pivot toward the free-to-play gaming segment, are a clear indication of its strategy to navigate the new regulatory landscape.
The layoffs at Games24x7 are part of a wider crisis sweeping the Indian real-money gaming industry. Other major players, including Mobile Premier League (MPL), have also announced significant job cuts, with MPL’s parent company reportedly laying off a large portion of its India-based workforce. These sweeping job cuts across the sector underscore the deepening crisis facing the industry as companies grapple with the dual impact of stringent regulations and financial losses.
While some companies, like Gameskraft, have opted for alternative strategies such as providing employees with advance salaries, the trend of mass layoffs highlights the difficult road ahead for real-money gaming firms in India. With the new law in place, many companies are now exploring international markets and focusing on free-to-play gaming formats to sustain their operations.
Key Highlights:
- Mass Layoffs at Games24x7: The parent company of My11Circle has begun laying off around 400 employees, marking its second round of job cuts this year.
- Impact of New Regulations: The layoffs are a direct result of the government’s recent ban on real-money gaming, which has caused significant financial strain and regulatory uncertainty for the company.
- Industry-Wide Crisis: The job cuts at Games24x7 are part of a broader trend in the online gaming sector, with other major firms like MPL also conducting large-scale layoffs.
- Strategic Pivot: In response to the new regulations, Games24x7 is shifting its focus towards the free-to-play gaming segment and exploring a restructuring to adapt to the changed market.