Passion Gaming Reclaims 100% Ownership, Eyes Massive Growth in Indian Market

Co-founders Bobby Garg and Priya Kumar have re-acquired Passion Gaming shares from investors. The company, known for Rummy Passion, aims to grow its user base amid regulatory challenges. They emphasize responsible gaming and anticipate favorable policies from the government to foster the skill gaming industry in India.

Co-founders Bobby Garg and Priya Kumar have successfully re-acquired Passion Gaming shares from their investors for an undisclosed amount, marking a remarkable milestone in their entrepreneurial journey. Rank Group PLC, via its subsidiary Stride Investments, had earlier invested $5 million in Passion Gaming.

'Achieving 100% ownership again is a rarity in a founder's journey,' says Priya Kumar. 'This move empowers us to pursue our vision with full autonomy and capitalize on the immense potential we see in the Indian skill gaming market.' Passion Gaming, known for its flagship product Rummy Passion, boasts over 1 crore registered players and a reimagined tech stack built using Unity and cutting-edge software that allows for scalability.

'We hold an optimistic view of the future for skill gaming in India,' says Bobby Garg. Passion Gaming prioritizes responsible gaming with secure player balances, anti-money laundering measures, and a commitment to fair gameplay. The company aims to reach 10 crore registered users on Rummy Passion over the next three years.

Despite the recent 28% taxation challenges, Bobby Garg is hopeful that the government will seize this opportunity to nurture entrepreneurship in skill gaming with fair taxation policies. Passion Gaming was one of the 71 online skill gaming companies to receive Show Cause Notices demanding a total of 1.2 lakh crores in retrospective GST, a demand which the company has challenged successfully.

(With inputs from agencies.)