Flutter Entertainment is actively evaluating options to encourage the restoration of the 70-year-old constitutional protection afforded to skill-based games in India, after shutting down its Junglee real-money gaming operations late last week.
Flutter stopped its Junglee real-money operations on Friday to comply with new legislation that prohibits real-money gaming products, including games of skill.
The operator said that the legalisation of the Promotion and Regulation of Online Gaming Bill occurred within an “exceptionally short timeframe” and without a consultation process with industry stakeholders to consider the “significant adverse consequences of this action.”
Flutter is actively evaluating options to encourage the restoration of the 70-year-old constitutional protection afforded to skill-based games, while also working to adapt to the new regulations in the country and continuing to promote the benefits of fully regulated products.
“I am extremely disappointed with the sudden changes to the regulatory landscape in India,” said Flutter Entertainment CEO Peter Jackson. “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 prioritises consumer protections and responsible gaming.
“We believe this change will drive customers to the unregulated market, offering limited consumer protections and providing no contribution to the local economy. We believe in regulatory frameworks that put customers first, and are evaluating options to restore skill-based games in the Indian market.”
Flutter’s Indian operations were expected to contribute approximately $200 million in revenue and $50 million in adjusted EBITDA in 2025, with approximately half of the profits to be delivered in the second half of 2025.
The company is also assessing the accounting implications, including any non-cash impairments to the Junglee business, which operates games such as Howzat, Junglee Rummy, Junglee Poker, PokerStars India and Junglee Ludo.
The unexpected regulatory changes in India have now led to several leading operators shutting down their real-money gaming operators, including Dream11, First Games, Gameskraft and MPL, among others.
Shares in Flutter Entertainment plc. (NYSE:FLUT) closed 0.28 per cent higher at $300.82 per share in New York Tuesday.
