Mumbai, Sept. 1 -- Nazara Technologies announced that pursuant to the enactment of the Promotion and Regulation of Online Gaming Act, 2025, which came into

effect on 22 August 2025, a material adverse effect (as defined in the share purchase agreement (SPA)) has occurred due to the prohibition on online real money gaming, including but not limited to real money poker gaming in India. Accordingly, in terms of the SPA, the company has on 31 August 2025, issued a Notice of Termination to I3 Interactive Inc.

In September 2024, share purchase agreements were executed amongst the Company, PSM Group, Bellerive Capital (BCP) 6, Shells and Shores Consultancy & Holdings LLP, I3 Interactive Inc, Puneet Singh, Navkiran Singh, Avneet Rana, Varun Gan...