Nazara’s ₹800 crore PokerBaazi bet at risk of being written off

Nazara Technologies has said that its over ₹800 crore investment in PokerBaazi could face a potential write-off if the proposed online gaming bill moves forward, though its overall earnings will not be impacted.

Since the Bill was introduced and cleared in Lok Sabha yesterday, Nazara shares have taken a deep plunge. On Thursday, the gaming giant’s shares fell another 11% to Rs 1,085 on BSE to record the total two-day loss of about 23%. The Bill is expected to be introduced and considered for passage in Rajya Sabha later today.