Flutter Entertainment cuts 800 jobs as firm restructures submit Online Gaming Act

Flutter Entertainment, the world’s largest on-line betting and gaming group and the guardian firm of Junglee Games, has laid off practically 800 workers throughout its Delhi and Bengaluru places of work following the compelled closure of real-money gaming operations in India. Around 250 workers have been retained, although they now await redeployment as the corporate restructures its India operations.

According to individuals conversant in the event, the corporate supplied beneficiant severance packages and advantages to outgoing workers. Employees described Flutter as “consistently among the best” when it got here to office assist. One particular person recalled that throughout the pandemic, whereas many firms slashed jobs and advantages, Flutter expanded worker protection by means of mediclaim, care packages, and advance bonuses.

However, sources stated the layoffs turned unavoidable after the Promotion and Regulation of Online Gaming Act, 2025 (PROGA, 2025) successfully compelled all operators to halt real-money gaming from August 22, regardless that the regulation has not but come into drive. The quick operational disruption lower instantly into Junglee’s core enterprise.

Responding to Storyboard18 question, Flutter Entertainment stated the regulatory shift left it no alternative however to droop real-money operations in India. “Outside of performance during the quarter, the enactment of the Promotion and Regulation of Online Gaming Act, 2025 forced Junglee and all other operators to immediately cease real-money operations,” stated Peter Jackson, CEO of Flutter Entertainment.

Jackson added that the abrupt coverage reversal has upended the corporate’s long-term plans for the Indian market. “We are extremely disappointed with the sudden and unexpected change to the regulatory landscape in India. Flutter has invested significantly in India over the last number of years, responsibly delivering innovative skill-based games to Indian customers. Junglee will now only offer free-to-play gaming content as we assess our medium-term options in that market.”

The regulatory setback additionally triggered a significant monetary hit for the group. Flutter disclosed a non-cash impairment cost of $556 million in its Q3 2025 earnings, reflecting the indefinite shutdown of real-money gaming in India. The write-down included $517 million in goodwill, $32 million in acquired and developed intangibles, and $7 million in different long-lived belongings tied to Junglee. The impairment was the only largest issue dragging down the corporate’s quarterly efficiency, pushing Flutter to a web lack of $789 million for the quarter ended September 30, 2025 — a steep leap from $114 million a 12 months earlier.

The firm warned that the impression will deepen over the subsequent a number of years. Flutter estimates a $70 million income loss and a $30 million EBITDA decline in 2025 as a result of regulatory shift. By 2026, the projected injury widens to $250 million in misplaced income and a $90 million EBITDA fall. For 2027, the corporate expects income erosion of $310 million and an EBITDA decline of $130 million.

The shutdown of Indian operations additionally weighed closely on Flutter’s International division, overlaying Asia-Pacific markets, the place iGaming income fell 12% year-on-year. This stoop offset the robust efficiency the corporate reported in Europe and Latin America.

Over the years, Flutter had ramped up funding in Junglee Games, betting on India as a vital pillar of its Asia-Pacific development technique. With PROGA now reshaping the market, the corporate faces a protracted reset because it reassesses its future in one of many world’s largest on-line gaming markets.

First Published on Nov 25, 2025 8:52 AM