New Delhi: Indian online gaming unicorn Mobile Premier League (MPL) is set to slash nearly 60 percent of its local workforce after the government’s sweeping ban on online paid games, marking the industry’s first big casualty under the new law.
Prime Minister Narendra Modi’s government this month outlawed paid online games, citing addiction and financial risks for youth. The move has forced many gaming apps—once booming on the back of fantasy cricket, rummy, and poker—to shut down their paid offerings.
The industry, which has long argued that such games rely on skill and not gambling, had been projected to touch $3.6 billion by 2029, with heavy backing from global investors like Tiger Global and Peak XV Partners.
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MPL’s Massive Downsizing
According to a company source reported by Reuters, 300 of MPL’s 500 employees in India will be asked to leave across departments including marketing, operations, finance, engineering, and legal. The company is now shifting its focus to free-to-play games and expanding in the U.S. market.
In an internal email , MPL co-founder and CEO Sai Srinivas wrote:
“With a heavy heart, we have decided that we will be downsizing our India team significantly.”
He added that India, which once contributed 50 percent of MPL’s revenues, will now cease to generate any income for the platform in the near future.
Industry in Shock
MPL, backed by Peak XV Partners (formerly Sequoia Capital India), was last valued at $2.3 billion in 2021. The company’s India revenue in FY24 was estimated at $100 million. Rival Dream11, valued at $8 billion, has also stopped its paid fantasy cricket offerings, while several poker and rummy apps have exited the market.
Last week, gaming company A23 became the first to legally challenge the government ban, but MPL and Dream11 have chosen not to fight it in court.
For now, India’s gaming giants are pivoting overseas, with MPL continuing its free-to-play models in Europe and paid gaming operations in the U.S. and Brazil, even as the domestic industry stares at uncertainty.
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