Flutter halts India real-money gaming operations, forecasts US$100M revenue loss

British gaming giant Flutter Entertainment says it expects to forfeit around US$100 million in revenue and US$25 million in Adjusted EBITDA after stopping its real-money gaming operations in India following the sudden passage of the Promotion and Regulation of Online Gaming Bill last week.

In a statement, Flutter confirmed it had withdrawn its Junglee brand from the market after the bill was passed by parliament and signed by the President on 22 August – just two days after first being introduced.

However, the company said it is also “actively evaluating its options to encourage the restoration of the 70-year-old constitutional protection afforded to skill-based games, while simultaneously working quickly to adapt operations to the changed regulatory landscape and continuing to promote the benefits of fully regulated products.”