India, Aug. 22 -- Pokerbaazi, backed by India's first and only listed online gaming firm, has ceased offering offering online games played with money, after the government outlawed such apps.

As a matter of "abundant caution" and with due respect to the government's online gaming law, Pokerbaazi operator Moonshine Technologies Pvt. Ltd. has ceased offering real money online gaming operations, Nazara Technologies Ltd. said in an exchange filing on Friday.

The listed company, backed by marquee investors like Nikhil Kamath and Madhusudan Kela and previously Rekha Jhunjhunwala, holds 46.7% stake Moonshine Technologies.

Nazara's $122 million investment in PokerBaazi stands to be written down or provisioned for now, Chief Executive Officer N...