Nazara: Gaming Bill Impact & RMG Exposure

New Delhi, Aug 20 (PTI) Gaming and sports media company Nazara Technologies Ltd on Wednesday said it anticipates no material adverse impact on its operating financial performance from the Promotion and Regulation of Online Gaming Bill, 2025.

Nazara has no direct exposure to real money gaming (RMG) businesses, it said in a regulatory filing.


Nazara stated that as per its latest reported financials for the first quarter of the fiscal year 2025-26 (Q1 FY26), the contribution to its revenues and EBITDA from RMG businesses was "NIL".

The company's only indirect exposure to RMG is through its 46.07 per cent stake in Moonshine Technologies Pvt Ltd, which operates PokerBaazi. However, Moonshine's revenue is not consolidated in Nazara's financial statements and has no impact on the company's reported Revenue or EBITDA, the company said.

Nazara Technologies has invested Rs 805 crore towards equity shares in Moonshine, through a combination of cash and stock. Additionally, it holds compulsory convertible shares in Moonshine amounting to Rs 255 crore.