MPL layoffs after gaming ban: Received’t be making any cash in India anymore, CEO tells employees

The Indian authorities’s on-line gaming ban has worn out Mobile Premier League’s enterprise in its house nation, CEO Sai Srinivas stated whereas asserting layoffs in his firm.

“With a heavy heart, we have decided that we will be downsizing our India Team significantly,” Srinivas wrote in an inside e-mail despatched on Sunday, with out quantifying the MPL layoffs. Reuters has reported the layoff scale to be 60% of the employees.

His e-mail, seen by the information company, learn: “We are committed to providing those impacted with every possible support during this transition period…”

“India accounted for 50% of M-League’s revenues and this change [India’s online gaming ban] would mean that we would no longer be making any revenue from India in the near future.”

MPL layoffs: About 300 to be let go

About 300 out of 500 India employees in divisions like advertising and marketing, finance, operations, engineering and authorized, can be let go by the Bengaluru-based firm, Reuters reported on Sunday citing an organization individual conscious of the matter.

The firm is now specializing in free-to-play video games and its US enterprise as a part of a significant downsizing train after India’s on-line cash gaming ban.

Backed by Peak XV Partners, MPL was valued at $2.3 billion in 2021, in response to Pitchbook information cited by Reuters. The individual cited earlier stated MPL’s India income stood at roughly $100 million in 2024-25.

Online gaming ban impact

India earlier this month banned paid on-line video games, citing monetary and dependancy dangers among the many youth, resulting in a shutdown of many gaming apps providing fantasy cricket, rummy and poker video games.

The legislation shocked the trade that was set to be value $3.6 billion by 2029.

As for MPL rival Dream11, which has relinquished its sponsorship of India Cricket Team and stopped all money-based fantasy video games for the reason that legislation got here into impact, it is not going to resort to layoffs, in response to CEO Harsh Jain.

“We are not interested in doing any layoffs. All the talent here is safe,” Jain stated in an interview with Moneycontrol on August 25, “We are interested in building with this talent to dig ourselves out of this hole. The only way to deal with 95% of your revenue gone is to build new products that you can monetise in the future. That will always start with talent.”

On August 24, PTI had reported that Dream11’s dad or mum firm Dream Sports is engaged on a cash administration app known as Dream Money to assist folks put money into gold, fastened deposits and mutual funds.