Flutter Entertainment has suspended its real-money gaming services in India with immediate effect, following the enactment of a new law that bans all money-based online games. The company confirmed that its local subsidiary, Junglee Games, has ceased operations after the Promotion and Regulation of Online Gaming Bill received Presidential assent on 22 August.
New law brings blanket ban
The Promotion and Regulation of Online Gaming Bill, passed swiftly by the Indian Parliament, introduces a blanket ban on all real-money gaming activities. This includes games of skill such as rummy and fantasy sports, which had previously operated in a legally grey area. The legislation was cleared without formal consultations with industry stakeholders and came into effect as soon as it received Presidential approval.
The new law seeks to eliminate all forms of money-based gaming in India, regardless of whether they are chance-based or skill-based. This has forced companies like Flutter to close their real-money operations, leaving a significant gap in the regulated market.
Junglee Games operations suspended
Junglee Games, Flutter’s Indian arm, has provided localised skill-based gaming products for the past four years. During this period, the company built a workforce of more than 1,100 employees in India. Flutter stated that the abrupt changes in regulation leave no scope for Junglee to continue its operations under the existing framework.
“We believe this change will drive customers to the unregulated market, offering limited consumer protections and providing no contribution to the local economy.”
– Peter Jackson, Chief Executive Officer, Flutter Entertainment
Flutter said it will explore all available legal options to reinstate protections for skill-based games, while also assessing ways to adjust its business strategy under the new rules.
Impact on Flutter’s financial outlook
The suspension is expected to affect Flutter’s financial performance for 2025. The company had projected its Indian operations to generate approximately $200 million in revenue and $50 million in adjusted earnings before interest, taxes, depreciation, and amortisation (EBITDA) for the year. Half of those profits were expected in the second half of 2025, making the immediate halt a major disruption to its earnings forecast.
Flutter is currently reviewing the accounting implications of the suspension. This includes the possibility of non-cash impairments linked to the Junglee Games business. The company has said that further disclosures will be made once internal evaluations are complete.
CEO highlights consumer risks
Flutter’s Chief Executive Officer, Peter Jackson, highlighted the wider risks posed by the new regulatory regime. He stated that the ban could drive players towards unregulated platforms, which lack consumer protection measures and do not contribute to the local economy.
Jackson said, “I am extremely disappointed with the sudden changes to the regulatory landscape in India. Over the last four years Junglee has invested significantly in its local market, building a workforce of over 1,100 employees to deliver innovative skill-based gaming products to Indian customers.”
Jackson emphasised that Flutter has consistently prioritised responsible gaming and customer safety in India. “We believe in regulatory frameworks that put customers first and are evaluating options to restore skill-based games in the Indian market,” he added. He noted that the company had invested heavily in building compliant, consumer-focused operations.
