It’s a Knockout Punch, Lost 95% Revenue & 100% Profits: Dream11 CEO on Real Money-Gaming Ban
In a candid interview, Dream11 Co-Founder and CEO Harsh Jain shared his thoughts on the government’s recent ban on real-money gaming. The ban has dealt a significant blow to the company, with Jain revealing that it has lost 95% of its revenue and 100% of its profits. Despite the setback, Jain remains optimistic about the future, asserting that he’s still a “delusional optimist”.
Dream11, one of India’s most popular fantasy sports platforms, has been a major player in the real-money gaming industry. The company has seen tremendous growth over the years, with millions of users participating in its fantasy sports leagues. However, the government’s recent ban on real-money gaming has disrupted the company’s business model, leaving it reeling.
In the interview, Jain acknowledged the impact of the ban, stating that 95% of the company’s revenue and 100% of its profits came from its current business model. This is a staggering loss, and it’s clear that the ban has dealt a significant blow to the company’s financials. However, Jain is refusing to give up, and instead, is focusing on the future.
“We’re going to work on the future,” Jain said. “But yes, 95% of our group’s revenue…and basically 100% of our profit was coming from Dream 11’s current business model.” He added, “This doesn’t mean Dream 11 is ‘dead’.”
Jain’s comments suggest that the company is not giving up on its real-money gaming business, but rather, is exploring new ways to adapt to the changing regulatory landscape. The CEO’s optimism is admirable, especially given the significant losses the company has incurred.
So, what’s next for Dream11? Jain didn’t reveal much in the interview, but he hinted that the company is exploring new opportunities and business models. He emphasized that the company is committed to working with the government to find a solution that works for everyone.
“We’re willing to work with the government to find a solution,” Jain said. “We’re not going to fight them. We’re going to work with them to find a solution that works for everyone.”
This approach is likely to be crucial in determining the company’s future success. By working with the government, Dream11 can potentially find a way to adapt to the new regulations and continue to operate in the market.
The ban on real-money gaming has sent shockwaves throughout the industry, with many companies struggling to cope with the sudden change. Dream11 is no exception, but Jain’s optimism suggests that the company is committed to finding a way forward.
In conclusion, the ban on real-money gaming has dealt a significant blow to Dream11, with the company losing 95% of its revenue and 100% of its profits. However, CEO Harsh Jain remains optimistic about the future, emphasizing that the company is committed to working with the government to find a solution. While the road ahead will be challenging, Jain’s delusional optimism is a positive sign that the company is willing to adapt and evolve in response to the changing regulatory landscape.
