Dream Sports, the original company of fantasy gaming gaming veteran Dream 11, will not resort to retrenchment despite hitting India’s ban on real-mani games, co-founder and CEO Harsh Jain has said.
“95 percent of the revenue of Dream 11 has disappeared overnight, and 100 percent of our profits …” Harsh Jain told Moneycontrol on Monday.
Dream Sports has been a major real-mani gaming player in India, but after the government banned all forms of online money game, he will have to shut down his money-based games.
Jain’s comments are facing a prison of up to five years with criminals with criminals after offering such sports online gaming bills, 2025 promotion and regulation, after the promotion and regulation of 2025.
Jain said in the interview, “We are not interested in any trimming. All the talents here are safe.”
Dream11 has also stated for the control board for cricket in India that it will not be able to continue with the team’s title sponsorship as the revenue stream is going to be badly hit.
Jain said, “The only way to deal with 95 percent of your revenue is to create new products that you can mudlice in the future. It will always begin with talent,” Jain said, the company has no plans to challenge the government on the ban.
The Mumbai-based company has planned to re-prepare its 500 its engineers and other employees in existing businesses such as Fankode, DreamSetgo, Dream Game Studio and Dream Money, while also working on new AI-operated products for sports and manufacturers.
Jain said, “We have sports content, commerce, fan engagement, analytics, sports performance and merchandise. It is all going to be interrupted by AI. And now I have 500 engineers that I can allocate to solve these problems.” “We will resume to solve these problems for Indian sports fans.”
Jain said that Dream Sports has sufficient cash reserves to maintain employees and maintain operations for the next few years. In FY23, the company reported operational revenue 6,384.49 crores, from above 3,841 crore in FY22.
According to news agency PTI, Dream Sports is testing a new app, Dream Money in the Financial Services Sector.
PTI, citing an anonymous source, said, “Dream Money has been under pilot for the last few months. The platform has not been launched yet.”
According to the information available on Google Play Store, the app will provide gold purchase service on a daily basis, which starts Started with 10 per day and fixed deposit 1,000.
According to the source, the official name of the new platform is “Dream Suit Platform Private Limited”.
The app is published by a Dream Sports Anti, Dreamsuit.
While Dream Sports has discontinued its online money-based games, the game experience and travel forum sets go, sports event ticketing and merchandise platform fankode, game development unit dream game studio and non-profit organization Dream Sports Foundation.
(With input from PTI)
