Online Gaming Bill: Nazara Tech crashes up to 8%, Delta Corp recovers
While Delta Corp trimmed morning losses and gained about 3%, Nazara Tech continued to face selling pressure and hit an intraday low of Rs 1,289 (down 8%) even as it issued a clarification stating that the company said that it has no direct exposure to real money gaming (RMG) businesses.
The Online Gaming Bill seeks to prevent individuals and organizations from providing online money-based games or associated services within India. It further aims to prohibit advertisements that promote such games and to curb financial transactions connected to these platforms. Financial institutions, including banks, may also be restricted from processing payments for them.
If enacted, the Online Gaming Bill, 2025 would mark a substantial regulatory shift in India's online gaming ecosystem, particularly affecting platforms that offer real-money gameplay.
Adarsh Somani, Partner, Economic Laws Practice said that the government's move to tighten rules for money-based games under the proposed Online Gaming Bill reflects a growing recognition of the risks associated with real-money play, ranging from addiction and financial losses to concerns of consumer protection and illegal betting.
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