My11Circle mum or dad Games24x7 begins layoffs, 400 jobs on the road

India’s on-line gaming sector is present process huge upheaval as main participant My11Circle mum or dad Games24x7 initated large-scale layoffs, amid mounting regulatory uncertainty and monetary pressure. Around 400 workers of the group can be impacted.

On Monday, Games24x7, the mum or dad firm of fantasy sports activities platform My11Circle, started shedding workers, a number of sources confirmed to Storyboard18. The firm is predicted to retain a piece of its workforce because it pivots towards the free-to-play gaming phase, an area seen as much less weak to regulatory hurdles. However, it’s nonetheless unclear if Games24x7 will align with Head Digital Works, operator of A23, within the ongoing authorized battle towards the Promotion and Regulation of Online Gaming Act, 2025.

The firm is but to launch an official assertion across the matter.

This is the second spherical of layoffs for the corporate in lower than a 12 months. In May 2025, Games24x7 had minimize round 180 jobs, citing over-hiring in the course of the interval when the Supreme Court was deliberating the Goods and Services Tax (GST) matter regarding on-line gaming.

Backed by marquee buyers together with Tiger Global Management, The Raine Group, and Malabar Investment Advisors, Games24x7 has been underneath monetary strain regardless of scaling revenues. In FY23, the corporate posted working income of ₹1,988 crore, up 70% from the earlier 12 months. However, it recorded a web lack of ₹199 crore, an enchancment from a lack of ₹281 crore in FY22.

Meanwhile, MPL’s mum or dad firm Galactus Funware Technology Pvt. Ltd. has executed one of many largest job cuts within the sector, letting go almost 600–700 workers — near its total workforce in India. Sources stated the layoffs had been triggered by the federal government’s blanket ban on real-money gaming operations.

A small group of MPL workers is predicted to be relocated abroad, primarily to the United States, the place the corporate is doubling down on its gaming technique. The layoffs in India, nevertheless, span key departments together with advertising, finance, authorized, coverage, and product growth.

The sweeping job cuts throughout two of the nation’s most distinguished gaming operators underline the deepening disaster going through India’s real-money gaming sector. With firms reeling from the double influence of stringent rules and monetary losses, the business’s focus seems to be shifting towards worldwide markets and free-to-play codecs.

As authorized battles unfold and the federal government pushes forward with its regulatory framework, the way forward for India’s as soon as high-growth on-line gaming sector hangs within the stability.