The company faces a major fraud case involving its former chief financial officer.
India.- Gameskraft has announced the layoff of 120 employees as it halts operations following the enactment of the Promotion and Regulation of Online Gaming Act, 2025. The law, which bans real-money gaming nationwide, has forced the company to suspend platforms including RummyCulture, Gamezy, Pocket52 and Ludo Select.
The restructuring comes as the company faces an additional setback: a police complaint against former chief financial officer Ramesh Prabhu, who allegedly diverted company funds worth INR 2.704m (USD32.4m) over nearly five years to finance personal equity and derivatives trades.
“This has been one of the most difficult decisions in Gameskraft’s journey, driven entirely by the external environment and the need to adapt to a new reality,” said Prithvi Singh, founder and CEO. He emphasised that the decision did not reflect on the employees’ performance, adding that the company would continue to provide health insurance coverage until March 2026, offer outplacement services, and give priority consideration for rehiring.
Other operators, including Mobile Premier League (MPL), Games24x7, Zupee, and Baazi Games, have also cut staff in recent weeks. Industry bodies have warned that up to 200,000 jobs could be at risk as a result of India’s new law. Winzo has wound up its domestic real-money gaming business and expanded to the US, while Hike’s Rush and Flutter Entertainment-owned Junglee Games have shut down operations entirely.
The company faces a major fraud case involving its former chief financial officer. India.- Gameskraft has announced the layoff of 120 employees as it halts operations following the enactment of…
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