According to reports, Hotstar has paid 150cr for Laxmmi Bomb. Though this makes no sense at all as Fox Star is the distributor of the film and Hotstar is their own platform so even if a transaction takes place, it's like transferring money from one account to another account within the same company.
Now the film was supposed to release in September on Akki's birthday, but whether it was the Boycott gang or there actually was patch work left for the film according to the director which led to it's delay by 2 months I dont know.
But yes. The producers decided to release it online very soon. The argument can be made that Hotstar needed more subscription that's why they decided to release LB and Bhuj online, it makes no sense to delay the release so much especially now that IPL has started and people have purchased subscription for it.
Releasing in theatres will be very tough. Infact, it will make no sense as the film would be streaming online and at the same time release in theatres. It would be a disaster theatrically. It is too late now and sadly I don't see it releasing in the theatres. They have made a huge blunder to release it on Hotstar as this was a sure shot Super Hit/Blockbuster had it released in the theatres.
Chalo theek hai. He still has 6 more films to release theatrically. Aaram se 2021 mei dekh lenge sab!