It’s a Knockout Punch, Lost 95% Revenue & 100% Profits: Dream11 CEO on Real Money-Gaming Ban
In a candid interview, Harsh Jain, Co-Founder and CEO of Dream11, spoke about the devastating impact of the government’s ban on real-money gaming on his company. The ban has led to a significant loss of revenue and profits for Dream11, with Jain stating that the company has lost 95% of its revenue and 100% of its profits. Despite this setback, Jain remains optimistic about the future of his company and the industry as a whole.
The government’s ban on real-money gaming has sent shockwaves through the entire industry, with many companies struggling to cope with the sudden loss of revenue. For Dream11, which was one of the pioneers of the real-money gaming industry in India, the ban has been particularly devastating.
In the interview, Jain described the ban as a “knockout punch” for his company. He stated that 95% of Dream11’s revenue and 100% of its profits came from its current business model, which was heavily reliant on real-money gaming. The ban has effectively put a stop to this revenue stream, leaving the company with a significant hole in its finances.
However, despite the severity of the situation, Jain remains a “delusional optimist”. He believes that the ban is not a death sentence for Dream11, but rather an opportunity to rethink the company’s strategy and adapt to the new regulatory landscape.
“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 Dream11’s current business model. So, it’s a big loss.”
Jain’s optimism is not based on a lack of understanding of the situation, but rather a recognition that the real-money gaming industry is not going away anytime soon. He believes that the ban has simply forced companies like Dream11 to think outside the box and explore new ways of doing business.
“We’re not going to die,” Jain said. “We’re going to find a way to come back stronger. We’re going to find a way to create a new business model that’s going to be even better than the old one.”
Jain’s comments are a stark contrast to the dire warnings that have been issued by other companies in the industry. Many have predicted that the ban will lead to the collapse of the real-money gaming industry in India, with some even claiming that the industry will never recover.
However, Jain is not one of those skeptics. He believes that the ban has simply created a new challenge for the industry, and that companies like Dream11 are well-placed to adapt and thrive in the new regulatory landscape.
“We’re not going to disappear,” Jain said. “We’re going to find a way to come back stronger. We’re going to find a way to create a new business model that’s going to be even better than the old one.”
Jain’s comments are a testament to the resilience of the Indian startup ecosystem, which has a long history of adapting to changing circumstances and finding new ways to succeed. The real-money gaming industry is no exception, and it remains to be seen how companies like Dream11 will evolve and adapt in the coming months and years.
One thing is certain, however: the ban has sent a clear message to the industry that the days of wild west-style regulation are over. The Indian government has made it clear that it is serious about regulating the real-money gaming industry, and that companies like Dream11 need to adapt to the new reality.
For Jain and his team at Dream11, the challenge is clear: find a new way to make money, and do it quickly. The stakes are high, but Jain is confident that his company has the skills and expertise to rise to the challenge.
“We’re not going to die,” Jain said. “We’re going to find a way to come back stronger. We’re going to find a way to create a new business model that’s going to be even better than the old one.”
