Flutter Entertainment plc has confirmed the immediate suspension of its real-money gaming operations in India following the sudden passage of the Promotion and Regulation of Online Gaming Bill. The legislation, which enforces a blanket ban on all real-money gaming activities — including skill-based games such as rummy and poker — was introduced to Parliament on August 20, passed by the upper house, and signed by the President just two days later, leaving operators with no time to prepare.

The company ceased operations for its Junglee brand on August 22 to ensure full compliance with the new law. Flutter expressed strong disappointment with the abrupt regulatory change, noting that the decision was made without consultation with stakeholders or consideration of the broader economic impact.

Sudden Legislation Forces Immediate Exit

The ban was fast-tracked through Parliament, catching the industry off guard. Flutter said that this unprecedented pace prevented any dialogue with policymakers on the potential consequences for operators, employees, and consumers.

The company had anticipated that its Indian business would deliver around $200 million in revenue and $50 million in adjusted EBITDA in 2025, with approximately half of that profit expected in the second half of the year. The sudden suspension is now expected to cost Flutter around $100 million in revenue and $25 million in EBITDA, according to internal estimates.

Peter Jackson, Flutter’s CEO, criticized the legislative process, stating in the company’s press release: “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. Central to this has been a strategy which prioritizes consumer protections and responsible gaming.”

Evaluating Legal and Operational Adjustments

While operations have been halted, Flutter confirmed that it is exploring legal avenues to restore the decades-old constitutional protections that historically safeguarded skill-based games in India. The company is also assessing the accounting implications of the shutdown, including possible non-cash impairments to its Junglee unit, with additional financial disclosures expected in the coming weeks.

Jackson warned that the ban could inadvertently push players toward unregulated markets that lack consumer safeguards and economic contributions. “We believe this change will drive customers to the unregulated market, offering limited consumer protections and providing no contribution to the local economy,” he said. “We believe in regulatory frameworks that put customers first, and are evaluating options to restore skill-based games in the Indian market.”

The ripple effects of the ban extend beyond Flutter. Fantasy sports platforms, including Dream11, have also halted real-money offerings. Dream11, which had a $44 million sponsorship deal with the Board of Control for Cricket in India (BCCI), informed the board that it will withdraw from its role as a key sponsor of India’s national cricket teams due to the sharp decline in projected revenue.

Together with rival platform My11Circle, Dream11 has contributed approximately $125 million in sponsorship funding to Indian cricket through national team and IPL partnerships. The loss of this financial support has forced the BCCI to search for replacement sponsors on short notice, adding further disruption to the sports ecosystem.

Flutter emphasized its commitment to the Indian market, noting its focus on responsible gaming and regulated operations during its years of investment in the country. While the company adapts to the new regulatory environment, it remains committed to finding pathways to restore legal clarity for skill-based games and continue its long-term strategy in the region.