Dream11 has decided to shut down its real-money gaming (RMG) business, which reportedly contributed nearly two-thirds of its revenue, according to an Entrackr report. The move was communicated in an internal town hall on Wednesday, shortly after the Promotion and Regulation of Online Gaming Bill, 2025 was passed by both Houses of Parliament.
Exploring New Avenues
While the exit marks a major shift for the company, Dream11 may explore new business verticals, including possible overseas expansion—an approach that rival Mobile Premier League (MPL) has already adopted.
Financial Performance Before the Ban
Dream11 had been on a strong growth trajectory before the regulatory change. Its revenue surged to ₹6,384 crore in FY23, up from ₹3,841 crore in FY22. Net profit also jumped 32% year-on-year to ₹188 crore during the same period.
Former Executive Calls Ban ‘Heartbreaking’
Smrita Singh Chandra, former Vice President of Policy Communications at Dream11, expressed strong criticism of the government’s decision. Calling the Bill “deeply unjust” and “unethical,” she wrote on LinkedIn that declaring a platform illegal after years of taxation, regulation, and judicial recognition was “more than just wrong.”
Chandra reflected on her nine-year journey with the company, noting that Dream11 had grown “brick by brick, regulation by regulation, court order by court order,” while maintaining compliance and ethical practices. She lamented that the government had chosen to “criminalise a vibrant, skill-based industry overnight”, without acknowledging the distinction between fantasy sports and gambling.
What’s Next for Dream11?
With its core RMG business gone, Dream11 faces a pivotal moment. The company may pivot towards global markets or innovate new formats in gaming and sports engagement. The coming months will determine whether it can reinvent itself—or fade from the space it once dominated.
