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Exclusive: Dream11 set to shut its core real-money gaming biz

EntrackrEntrackr · 6m ago
Exclusive: Dream11 set to shut its core real-money gaming biz
Medial

Exclusive: Dream11 set to shut its core real-money gaming biz “The decision was communicated during an internal town hall on Wednesday,” said one of the sources on condition of anonymity. “RMG contributes more than two-third of the company’s annual revenue.” Dream11 (Dream Sports) is winding down its real money gaming operations, sources aware of the development told Entrackr. The decision comes on the heels of the government’s recent Online Gaming Bill 2025. “The decision was communicated during an internal town hall on Wednesday,” said one of the sources on condition of anonymity. “RMG contributes more than two-third of the company’s annual revenue.” The landmark Bill, passed by the Rajya Sabha and Lok Sabha, bans all forms of online games involving monetary stakes, including fantasy sports, poker, betting apps, and opinion trading platforms. The Bill also prohibits celebrity endorsements and makes violations a criminal offense, carrying imprisonment of up to three years and fines of up to Rs 1 crore, with personal liability extended to company directors and promoters unless they can prove due diligence. According to sources, Dream11 will now shift focus to expanding its non-real-money gaming ventures such as Fancode, Sportz Drip (formerly Sports Rhythm), and its investments in Cricbuzz and Willow TV. “The firm is also likely to explore new game formats for overseas markets, similar to the strategy adopted by Mobile Premier League (MPL),” said a second source requesting anonymity. "The shutdown will also trigger severe cost-cutting measures, including mass layoffs, as the RMG business employed the majority of the firm’s workforce,” the person added. Dream11 has declined to comment on the story. Dream11’s revenue from operations surged to Rs 6,384 crore in FY23 from Rs 3,841 crore in FY22. During the period, its profit also increased 32% to Rs 188 crore. It has yet to file its annual report for FY24 and FY25.

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Exclusive: Games24x7 to acquire 24% stake in stock broking app Wiseowl’s TIQS

EntrackrEntrackr · 11d ago
Exclusive: Games24x7 to acquire 24% stake in stock broking app Wiseowl’s TIQS
Medial

Online gaming firm Games24x7 is set to acquire a minority stake in stock broking company Wiseowl Securities, the parent entity of Butterfly Broking (TIQS), according to regulatory filings accessed by Entrackr. The board of Games24x7 has passed a special resolution to approve the purchase of a 24% stake in Wiseowl Securities for Rs 9.1 crore, filings sourced from the Registrar of Companies (RoC) show. Games24x7 has also secured board approval to extend a short-term loan of Rs 18 crore to Wiseowl Securities, as per filings. Wiseowl Securities operates a stock broking business and is registered as a mutual fund distributor with Association of Mutual Funds in India and BSE. Through its wholly owned subsidiary, it runs the Butterfly Broking platform, offering access to NSE and BSE. The platform enables trading in equities, derivatives, commodities, and currency. The development comes at a time when several real-money gaming (RMG) companies are exploring new verticals amid a blanket ban. A number of gaming platforms have either restructured operations or diversified into adjacent consumer internet categories. For instance, Dream Sports, the parent company of Dream11, has entered wealth-tech with its Dream Money app. WinZO has experimented with products such as ZO Gold, while Zupee has expanded into content and lifestyle-led verticals beyond its core gaming offerings. Games24x7’s potential investment into Wiseowl Securities reflects a broader pivot among gaming firms toward regulated financial services. As the RMG landscape faces policy headwinds, diversification into capital markets could offer new revenue streams and reduce regulatory risk.

Paytm to invest Rs 455 Cr in subsidiaries, discontinue First Games

EntrackrEntrackr · 6m ago
Paytm to invest Rs 455 Cr in subsidiaries, discontinue First Games
Medial

Paytm to invest Rs 455 Cr in subsidiaries, discontinue First Games The board cleared investments of up to Rs 300 crore in Paytm Money and Rs 155 crore in Paytm Services through rights issues. One 97 Communications Limited, the parent company of Paytm, approved a series of strategic measures at its board meeting on August 25. The board cleared investments of up to Rs 300 crore in Paytm Money and Rs 155 crore in Paytm Services through rights issues. Both are wholly owned subsidiaries and the infusion will not change the shareholding, the company informed through a stock exchange filing. The company also approved the 100% acquisition of Foster Payment Networks for up to Rs 61 crore to make it a fully owned subsidiary. The Noida-based company also proposed transfer of equity in First Games Technology from Paytm Cloud Technologies to Paytm Services for up to Rs 140 crore. Meanwhile, Paytm’s gaming arm First Games has discontinued its real money gaming business after the government notified the Promotion and Regulation of Online Gaming Act 2025. The company said that First Games contributes nothing to consolidated revenues and carries a nil book value. The new Online Gaming Act bans all real money games in India. Platforms including Dream11, MPL, Zupee, Gameskraft, My11Circle, Probo, WinZo and others have already shut their RMG verticals.

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