Flutter has criticised a lack of consultation that has led to the company pulling its lucrative Junglee offering from India.
The decision was taken after India’s lawmakers passed the Promotion and Regulations of Online Gambling Bill 2025, which has banned the promotion of real money games (RMG), including Junglee.
Flutter stated that it is “disappointed” to have had to make such a decision, and lamented the lack of consultation with industry stakeholders to “consider the significant adverse consequences” of implementing the bill.
The bill was first tabled on 20 August and quickly made its way through India’s parliament, receiving approval from both the Rajya Sabha and Lok Sabha, as well as Presidential assent, by 22 August.
“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,” added Flutter CEO, Peter Jackson.
“I am extremely disappointed with the sudden changes to the regulatory landscape in India.”
Flutter’s decision follows the likes of India-based operators such as My11Circle, Zupee and Dream11, all of which are counting the cost of having to shut down their RMG operations.
For Dream11, reports suggest that RMG contributed over two-thirds of the company’s revenue. The company has already pulled its sponsorship of the European Cricket League, calling into question the future of the tournament – as well as Dream11’s association with its myriad of partners across various sports, which includes India’s national cricket team.
Although the impact is unlikely to be as severe for Flutter given its standing and presence in markets around the world, the group has been forced to assess the accounting implications of the exit.
Flutter acquired a 51% majority stake in the games studio Junglee Games for $70m in 2021, which had grown into one of the largest communities for rummy and other non-poker card games since its foundation in 2013, garnering a player base of over 100 million.
The business was expected to contribute approximately $200m revenue and $50m adjusted EBITDA to Flutter in 2025 – with approximately half of the profits expected to be delivered in the second half of 2025.
Flutter reported iGaming growth of 45% and 24% respectively in India across the first two quarters of 2025, citing these performances as contributing factors to the company’s year-over-year revenue and EBITDA growth.
Restoring skill games
Despite this significant setback, Flutter appears committed to the Indian market
The company confirmed that it is “actively evaluating” options to encourage the restoration of the country’s constitutional protection afforded to skill-based game, as well as promoting the benefits of a fully regulated market.
“We believe in regulatory frameworks that put customers first, and are evaluating options to restore skill-based games in the Indian market,” said Jackson, who also shared his fears that the current changes will push players to the black market.
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