<p>New Delhi: Online gaming firm Gameskraft on Thursday said it is laying off 120 employees as it navigates new regulatory landscape post the passage of the Online Gaming Bill, 2025.</p>.<p>The implications of this legislation are complex, far-reaching, and have had an immediate and profound impact on the sector and Gameskraft, the company said in a statement.</p>.<p>"The current regulatory landscape has made us completely stop our business and has left us with no choice but to initiate a company-wide restructuring.</p>.<p>"After careful deliberation, as part of this restructuring, we will be, as of now, letting go of about 120 Krafters across teams and functions, a decision we make with a very heavy heart. As the business continues to evolve in response to external realities, further structural changes may be required," it said.</p>.<p>Gameskraft will stand by all impacted employees as per their employment agreements, including leave encashment based on total salary and not just basic salary, the company said.</p>.Modi govt's online gaming ban may drive addicts underground.<p>Group health insurance will stay active until March 2026 or when the affected employees join a new job, whichever is earlier. Employees can convert their group plan to an individual one, and those with dependent parent coverage keep it uninterrupted.</p>.<p>Several companies that were engaged in the real-money gaming business have started laying off the majority of their staff.</p>.<p>The Promotion and Regulation of Online Gaming Act, 2025, passed by Parliament on August 21, bars all forms of online money games while promoting e-sports and other online games.</p>.<p>The Act seeks to prohibit advertisements related to online money games and bars banks and financial institutions from transferring funds for any of such games.</p>.<p>Earlier this month, Gameskraft filed a police complaint against its former CFO for allegedly siphoning off over Rs 231 crore -- whose write-off led to a decline in the company's FY25 net profit.</p>.<p>The Bengaluru-based firm reported a net profit of Rs 706 crore on a revenue of Rs 4,009 crore in the fiscal year 2024-25 (April 2024 to March 2025). This compares with Rs 947 crore net profit on a revenue of Rs 3,475 crore in the previous year.</p>.<p>The 2024-25 profit was also impacted by "a one-time accounting adjustment of past unsanctioned transactions amounting to approximately Rs 231 crore," it said in a statement.</p>
<p>New Delhi: Online gaming firm Gameskraft on Thursday said it is laying off 120 employees as it navigates new regulatory landscape post the passage of the Online Gaming Bill, 2025.</p>.<p>The implications of this legislation are complex, far-reaching, and have had an immediate and profound impact on the sector and Gameskraft, the company said in a statement.</p>.<p>"The current regulatory landscape has made us completely stop our business and has left us with no choice but to initiate a company-wide restructuring.</p>.<p>"After careful deliberation, as part of this restructuring, we will be, as of now, letting go of about 120 Krafters across teams and functions, a decision we make with a very heavy heart. As the business continues to evolve in response to external realities, further structural changes may be required," it said.</p>.<p>Gameskraft will stand by all impacted employees as per their employment agreements, including leave encashment based on total salary and not just basic salary, the company said.</p>.Modi govt's online gaming ban may drive addicts underground.<p>Group health insurance will stay active until March 2026 or when the affected employees join a new job, whichever is earlier. Employees can convert their group plan to an individual one, and those with dependent parent coverage keep it uninterrupted.</p>.<p>Several companies that were engaged in the real-money gaming business have started laying off the majority of their staff.</p>.<p>The Promotion and Regulation of Online Gaming Act, 2025, passed by Parliament on August 21, bars all forms of online money games while promoting e-sports and other online games.</p>.<p>The Act seeks to prohibit advertisements related to online money games and bars banks and financial institutions from transferring funds for any of such games.</p>.<p>Earlier this month, Gameskraft filed a police complaint against its former CFO for allegedly siphoning off over Rs 231 crore -- whose write-off led to a decline in the company's FY25 net profit.</p>.<p>The Bengaluru-based firm reported a net profit of Rs 706 crore on a revenue of Rs 4,009 crore in the fiscal year 2024-25 (April 2024 to March 2025). This compares with Rs 947 crore net profit on a revenue of Rs 3,475 crore in the previous year.</p>.<p>The 2024-25 profit was also impacted by "a one-time accounting adjustment of past unsanctioned transactions amounting to approximately Rs 231 crore," it said in a statement.</p>