Deals pick up in real-money gaming with favorable court rulings

Madhav Chanchani

121 reads

Madhav Chanchani

121 reads

After recent positive court verdicts on online rummy and fantasy sports, funding and consolidation activity is picking up in the real-money gaming space. But to thrive, these companies still need to figure ways to mitigate regulatory risks

August 31, 2021

4 MINS READ

Action is picking up in India’s real-money gaming industry, which includes fantasy sports or card-based games such as rummy and poker, after two recent court verdicts.

Dream11, which dominates the online fantasy gaming market, is likely to see its valuation cross $8.5 billion in a fresh share sale, Entrackr reported on Monday, up from its March valuation of $5 billion.

Nazara Technologies, the only listed gaming company in India, on Friday announced the acquisition of OpenPlay Technologies, which operates rummy-based games, for Rs 186.4 crore (about $25 million) in cash and stock.

Mobile Premier League, which offers about 60 games including fantasy sports and rummy on its platform, is reportedly looking to more than double its valuation of $945 million.

What’s Changed? Two recent court rulings with far-reaching implications are driving investor confidence in the sector.

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