Asia
GrooveGaming push further into Asia with substantial QTech Games partnership
Aggregator GrooveGaming has once again surprised the market with a major incursion into Asia by signing a special deal with QTech Games, the fastest growing game distributor in Asia. This latest agreement with QTech Games significantly expands GrooveGaming’s global footprint even further, opening up established and emerging markets in Asia for accelerated growth.
This encouraging Asian news comes hot-on-the-heels of recent announcements that have seen the active aggregator claim significant wins in Latin America, Europe and Africa.
GrooveGaming’s 6-Continents Strategy is paying off, with more-and-more brands looking to develop interesting ventures with the dynamic aggregator of choice to tier-1 companies as well as operators and casinos across the industry.
GrooveGaming’s powerful content platform includes over 2500 casino games as well as a wealth of aggregated content ranging from slots, online casino and live casino, to poker and table games, that operators can access via easy integration.
Recent new partnerships have consolidated GrooveGaming’s reputation with a host of big industry names including EveryMatrix, iGP, Digitain, ALEA and Quickfire, amongst others.
Created with the aim of easy and fast content delivery for the igaming industry, GrooveGaming has been hitting the headlines over the last 18-months, with a global growth trajectory that has impressively seen the brand reach all 6 continents, based on delivering rapid integrations and focusing on high-quality customer service, together with what remains an unrivalled set of technology tools that operators can use to improve productivity and bottom-line performance.
A major reason why GrooveGaming is becoming the aggregator of choice around the world is that GrooveGaming is powered by technology innovation which provides operators with the ability to activate a range of features that enhance customer experience and engagement, improve retention, encourage extended play and produce a higher yield.
QTech Games has built a formidable digital one-stop shop, from slots and table games to instant win, virtual sports and live casino games. As the fastest-growing distributor in Asia over the past few years, QTech Games’ platform boasts the broadest gaming portfolio around, localised for each region, with native mobile apps, powerful reporting and marketing tools, and 24/7 local-language support.
Ulf Norder, CCO at QTech Games said: “GrooveGaming are the most familiar name in aggregation today, they need no introduction, and we’re pumped at the prospect of being part of the energy that is driving GrooveGaming forward. They have the content, they have the technology, and they have the attitude to be a wonderful partner.”
Rebecca Sotomora, Head of Sales at GrooveGaming said: “In an era of customisation, QTech Games really delivers on their brand promise of tailoring content to different cultures. This is what makes them relevant to players and to the melting-pot that is Asia, everyone at GrooveGaming is excited by this new partnership and we look forward to being part of their further expansion in emerging markets with our portfolio behind them.”
Asia
Nazara FY24 EBITDA increases by 16.6% to INR 127.9 Cr, Operating Cash Flow of INR 131.4 Cr
Nazara Technologies Limited a diversified gaming and sports media platform announced its unaudited Standalone and Consolidated results for the quarter and Fiscal Year ended 31st March 2024.
Key Consolidated Financial Highlights for FY24 are as follows:
Revenue grew by 4.3% to INR 1,138.3 Cr as against INR 1,091.0 Cr in FY23
EBITDA increased by 16.6% to INR 127.9 Cr as against INR 109.8 Cr in FY23
EBITDA margin increased by 110 bps to 11.2% in FY24 from 10.1% in FY23
Operating Cash Flow (pre-taxes) was INR 131.4 Cr in FY24
PAT (from continuing operations) increased by 41.2% to INR 89.5 Cr in FY24 as against INR 63.4 Cr in FY23
PAT including discontinued operations increased by 21.8% to INR 74.8 Cr in FY24 as against INR 61.4 Cr in FY23
Net Cash Balance of INR 1,449 Cr as of March 31, 2024
Key Consolidated Financial Highlights for Q4FY24 are as follows:
Revenue of INR 266.2 Cr as against INR 289.3 Cr in Q4FY23
EBITDA increased to INR 29.3 Cr as against INR 27.8 Cr in Q4FY23
EBITDA margin increased by robust 140 bps to 11.0% in Q4FY24 from 9.6% in Q4FY23
PAT (from continued operations) of INR 17.1 Cr as against INR 11.9 Cr in Q4FY24
Commenting on the Q4 & FY24 performance, Nitish Mittersain, Founder, CEO & Jt MD of Nazara Technologies stated:
“FY24 has been a year of building a strong foundation for rapid future scaling. We achieved a 4.3% revenue growth and a 16.5% EBITDA growth, with our margin improving by 110 bps YoY to 11.2%. Notably, our Operating Cash Flow increased to INR 131.4 Cr, reflecting the company’s strong underlying performance.
We raised INR 950 crores at Nazara and subsidiaries, our largest fundraise to date, resulting in a net cash balance of INR ~1,450 crores.
Key initiatives from FY24 are set to yield results in the coming year, including our new publishing platform, new game launches through existing studios, IP partnerships, and a strong M&A pipeline. Subsidiaries are also successfully adopting our M&A playbook, with Absolute Sports (Sportskeeda) acquiring Pro Football Network (PFN) in March 2023, doubling PFN business post-acquisition and turning it profitable. Nextwave acquired UTP (a casual card game) in April 2024, and NODWIN Gaming acquired Comic Con India.
We are optimistic about FY25, expecting accelerated growth in both revenue and EBITDA. With substantial cash reserves and a robust M&A pipeline, we are well positioned to seize further growth opportunities and enhance our growth trajectory through strategic M&A over the next 12 months.
We have also announced acquisition of 100% stake in Nextwave Multimedia Private Limited, developers of the popular mobile cricket games under the “World Cricket Championship” franchise.”
The post Nazara FY24 EBITDA increases by 16.6% to INR 127.9 Cr, Operating Cash Flow of INR 131.4 Cr appeared first on European Gaming Industry News.
Asia
Amusnet to Showcase Excellence at SiGMA Asia 2024
Amusnet has announced its participation at SiGMA Asia 2024, which will take place in Manila, Philippines, from June 3 to 5. The company’s presence signifies a pivotal development moment and is a strategic leap forward in its global expansion, with a particular focus on tapping into the rapidly growing Asian market.
The leading casino solutions provider will showcase expertise and a curated selection of offerings across Online Casino, Live Casino and Land-based verticals featuring its latest innovation – the Type S slot cabinet series. The online casino selection consists of signature slot titles like 20 Golden Coins, Extra Crown, and Candy Palace, together with tailored content for the local audience: the upcoming slot release, Dragon’s Birth and the Live casino offers Speed Baccarat and Dynamic Sic Bo.
“As we enter the spotlight at SiGMA Manila this year, we embrace the exciting opportunity to connect with the vibrant Asian gaming community. Our presence at the prestigious event underscores our dedication to broadening our reach and delivering top-notch gaming experiences catering to a wider audience. Do not miss the chance to experience firsthand the premium Type S slot machines at SiGMA Asia, explore the thrill and discover new business opportunities! See you at booth D214,” Borislav Marinov, Head of Land-based Business Development at Amusnet, said.
Land-based
Type S is the company’s first-ever high-end slot cabinet series, manufactured according to the utmost standards of the global land-based casino industry. It brings together state-of-the-art technology, premium design and exceptional player engagement for an extraordinary gaming experience. The game portfolio consists of 40 of Amusnet’s in-house slot titles, such as Hot Deco, Phoenix Star, Secrets of Sherwood, Fruits & Gold, Greek Fortune, Cocktail Rush, etc., together with the famous Amusnet’s four-level bonus game, Jackpot Cards.
Online Casino
Dragon’s Birth is an upcoming slot packed with exciting features promising an exhilarating gameplay experience. During Symbol Shift, eggs randomly transform into high-paying dragons to improve winning combinations. Free Spins have great winning potential thanks to the high-paying symbol multipliers awarded by the Dragon’s Wheel. In addition, players can enjoy the popular Buy Bonus feature.
Live Casino
At the event, visitors will be able to experience two of the upcoming Live Casino games – Speed Baccarat and Dynamic SicBo. Both are hosted by entertaining live dealers and stand out with a high quality, low latency 24/7 stream, providing fast gameplay, chat functionality and re-bet and double-bet options. Speed Baccarat is a famous Asian card game of luck with three types of bets and a side bet option. The Asian dice game of chance, Dynamic Sic Bo, is played with three dice and offers a wide variety of eight different betting possibilities.
The post Amusnet to Showcase Excellence at SiGMA Asia 2024 appeared first on European Gaming Industry News.
Asia
Quezon City Mayor Bans Government Employees from Solaire North Casino
The mayor of Quezon City, Josefina Belmonte, has said that all officials and employees of her administration are prohibited from entering the soon-to-open Solaire Resort North casino property, being developed in the city by Philippines-listed Bloomberry Resorts Corp.
Belmonte said Solaire North has created an electronic databank consisting of photographs of all 19K city employees that will be used to assist casino security in preventing access to excluded persons.
The mayor was speaking at the inaugural “International Conference on Responsible Gambling and Gaming Addiction”, held in Quezon City and backed by the country’s gaming regulator, the Philippine Amusement and Gaming Corp (Pagcor).
According to Ms Belmonte, an electronic device posted at each entrance of the casino at Solaire Resort North would identify any city government official or employee, barring their access to the gaming venue. Quezon City public servants would still be allowed to visit other areas of the resort, she added.
“Even if one wears a wig, a mask or a hat, one’s face can still be detected using a very sophisticated system,” the mayor said.
The post Quezon City Mayor Bans Government Employees from Solaire North Casino appeared first on European Gaming Industry News.
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