Exclusive: My11Circle parent Games24x7 begins layoffs, 400 jobs on the line

India's online gaming sector is undergoing massive upheaval as leading player My11Circle parent Games24x7 initated large-scale layoffs, amid mounting regulatory uncertainty and financial strain. Around 400 employees of the organization will be impacted. On Monday, Games24x7, the parent company of fantasy sports platform My11Circle, began laying off employees, multiple sources confirmed to Storyboard18. The company is expected to retain a section of its workforce as it pivots toward the free-to-play gaming segment, a space seen as less vulnerable to regulatory hurdles. However, it is still unclear if Games24x7 will align with Head Digital Works, operator of A23, in the ongoing legal battle against the Promotion and Regulation of Online Gaming Act, 2025. The company is yet to release an official statement around the matter. This is the second round of layoffs for the company in less than a year. In May 2025, Games24x7 had cut around 180 jobs, citing over-hiring during the period when the Supreme Court was deliberating the Goods and Services Tax (GST) matter concerning online gaming. Backed by marquee investors including Tiger Global Management, The Raine Group, and Malabar Investment Advisors, Games24x7 has been under financial pressure despite scaling revenues. In FY23, the company posted operating revenue of ₹1,988 crore, up 70% from the previous year. However, it recorded a net loss of ₹199 crore, an improvement from a loss of ₹281 crore in FY22.

Games24x7 is an Indian online gaming company that operates fantasy sports platform My11Circle and rummy platform Rummycircle. The company is backed by marquee investors like Tiger Global Management, The Raine Group, and Malabar Investment Advisors.