Despite the recent government ban on real money games (RMG), Nazara Technologies’ confidence in India’s gaming future remains “unshaken,” the company’s founder and CEO Nitish Mittersain said on Tuesday.
Addressing the sector’s current headwinds in a LinkedIn post, Mittersain urged gaming companies, founders, and creators to stay the course and adopt a mindset of “Passion, Perseverance, and Positivity.”
“The Indian gaming industry is going through a tough phase right now — disruption, investor nervousness, and real impact on jobs. But downturns are temporary, and the ecosystem will emerge leaner, wiser, and ready to build the next level,” he wrote.
Impact on Nazara
The optimism comes even as the ban has had a sharp impact on listed players. Nazara Technologies, which holds a 47% stake in Moonshine Technologies Pvt. Ltd., the parent company of PokerBaazi, has seen its stock slide nearly 28% in the last four sessions.
The company said it continues to monitor developments and remains focused on its broader gaming portfolio, which spans esports, gamified learning, and interactive gaming content.
‘We’ve survived disruptions before’
Mittersain highlighted that Nazara, over its 25-year history, has endured multiple shocks, including the dot-com crash of 2000, the 2008 global financial crisis, the VAS business disruption in 2014, and a failed IPO attempt in 2018. “Every disruption has been an opportunity to reinvent and realign,” he noted, adding that Nazara views the current crisis in a similar light.
The government’s move to ban real money games has created uncertainty across the gaming sector, raising concerns over jobs, investor confidence, and future business models. However, Mittersain reiterated that the long-term fundamentals of gaming in India remain strong. “This too shall pass. The road ahead is filled with many milestones for our sector,” he said.
