Asia
Nazara Technologies Ltd. – Business Update for the year ended on March 31, 2021

In accordance with SEBI (Listing Obligations and Disclosure Requirements) Regulation, 2015 and Code of Practices and Procedures for Fair Disclosure of Unpublished Price Sensitive Information in terms of Regulation 8 of SEBI (Prohibition of Insider Trading) Regulations, 2015, the Company would like to update on the following key business parameters on consolidated basis for the Year ended March 31, 2021
Business Overview:
Nazara is an India based, diversified gaming and sports media platform with presence in India and across emerging and developed global markets such as Africa and North America.
As of March 31, 2021, Nazara has diverse business segments with revenue generation happening across gamified learning, Esports, freemium and telco subscription.
S. No. | Business Segment | Business Model | Content IP Ownership | IP Name | % Revenue Contribution FY21 |
1 | Early learning | Gamified App for 2–6 year old kids with subscription paid by parents | Yes | Kiddopia | 39% |
2 | Esports | Premium exclusive content / (Media rights licensing) & brand sponsorships (ads shown on the platform) | Yes | Nodwin, Sportskeeda | 37% |
3 | Freemium | Ads & virtual items purchased within the games | Yes | WCC | 4% |
4 | Telco Subscription Business | Players subscribing to curated game packs and payment collected through telecom operator channel | No | – | 16% |
5 | Skill Based Real Money Gaming | Platform fee collected from the skill games played on the platform | Yes | Halaplay, Qunami | 4% |
Income Statement Performance: Snapshot of FY21 over FY20
Key Highlight of FY21: Delivered 84% YoY revenue growth and 470% YoY EBITDA growth
Revenue Performance: Snapshot – FY21 when compared to FY20
Nazara Technologies delivered consolidated revenue of 4,542 Mn INR (unaudited) in FY21 which is 84% growth over FY20 (2,475 Mn INR). Gamified learning and Esports segments have not only demonstrated strong growth momentum in FY21 but have also laid foundation for predictable growth on account of proven user engagement and retention KPIs in gamified learning and multiyear media licensing and game publisher agreements in case of Esports.
Segment wise revenue breakup is as follows:
Revenue INR Mn | FY21
(unaudited) |
FY20 (audited) |
% Growth |
Gamified Learning | 1,758 | 191* | 820% |
Esports | 1,701 | 842* | 102% |
Freemium | 195 | 198 | (2%) |
Telco Subscription | 749 | 818 | (8%) |
Real Money Gaming | 139 | 426 | (67%) |
Total Revenue | 4,542 | 2,475 | 84% |
*included from date of acquisition in the consolidated financial statement for FY20.
Consolidated EBITDA Performance: Snapshot – FY21 when compared to FY20
EBITDA including share of non-controlling interest for FY21 has witnessed 470% growth over FY20.
Particulars | FY21 (unaudited) |
FY20
(audited) |
EBITDA margin | 12% | 4% |
As Nazara is operating in high growth business segments such as gaming, gamified learning and Esports, we will continue to drive profitable growth while prioritizing growth over profit maximization at this stage so that we can achieve and maintain market leadership in the segments we operate in.
Segment wise commentary on business performance:
- Gamified Learning: Kiddopia had 340,282 paying subscribers as of March 2021 which is a 172% increase in number of paying subscribers as compared to March 2020 (197,522).
LTV (Lifetime Value) – CAC (Consumer Acquisition Cost) Parameters: Cost per trial has stayed range bound between 22 USD to 26 USD in last 12 months and activation ratio from free trial to subscription has also remained around 70%. Monthly ARPU of the user has been around 6.3 – 6.4 USD and monthly churn is range bound between 4% – 6% across the months in FY21.
- Esports: Esports revenues comprise of media rights licensing of own content, brands sponsorships for offline and online events, licensing fee received from game publishers for community activation and programmatic inventory selling on Sportskeeda. Esports is disrupting traditional sports worldwide and is an outcome of sports and gaming intersecting to create fast paced spectator entertainment content.
- Sportskeeda witnessed 487% growth in MAU in FY21. During peak cricket season (October 2020), Sportskeeda recorded 68.44 Mn MAU up from 10.53 Mn MAU in April 2020.Sportskeeda has emerged as a leading Esports news and content destination in India.
- Nodwin continued revenue growth momentum with 75% growth in FY21 over FY20. Media rights contributed to majority of the revenues in FY21 and game publishers formed second largest source of revenue wherein Nodwin partnered with them for grass route community tournaments across India. Nodwin also expanded into South Asia in FY21. Nodwin continues to be the dominant player in Esports in India with its marquee IPs like ESL India premiership, Dew Arena etc.
- Free to Download (Freemium): WCC (World Cricket Championship) is the world’s largest cricket simulation game franchise on mobile and is played for ~46 minutes / day by over 15 Mn monthly active users. The Game has a very strong franchise among the midcore gamers who love virtual sports simulation genre and gets over 100,000 downloads every day organically and without any marketing spends. WCC revenues were flat in FY21 on account of drop in advertising rates in India due to COVID. We expect growth in WCC to come from in app purchases of virtual goods and WCC3 – the latest version of the game launched in July has been designed for enhancing in-app purchase conversion rates.
- Scale of Daily Active Users (DAUs) of world cricket championship (WCC) is stable with few spikes seen during first phase of lockdown in April 20 and during IPL 20.
- Tangible progress has been made on % conversion ratio (daily paying to daily active users (DPU/ DAU)) in FY21 via launch of WCC3. The % conversion in WCC3 has increased multi-fold to 0.08% – 0.10% as compared to 0.01% in WCC2. % Conversion in WCC3 is expected to increase further in FY22 through new product updates.
Once positive LTV/CAC equation is achieved, the company will invest aggressively in user acquisition to scale up its user base on WCC and drive profitable growth.
- Telecom operator driven Subscription business declined by 8% in FY21 over FY20 primarily due to decline in India revenues in H2FY21. Nazara has acquired rights to distribute a library of premium Disney and Star Wars games based on iconic stories and characters including Star Wars, Frozen, Big Hero 6, Cars, Duck Tales, Finding Dory, Toy Story and many others in 100 countries for three years. These premium games will be distributed through Nazara’s network of telecom operators to their customer base. Under this agreement with Disney, Nazara is the only third party distributor that Disney has granted the right to create and operate Disney themed storefronts for premium Disney and Star Wars games on these telco channels.
- Sports Fantasy (Real Money Skill Gaming): Sports fantasy witnessed disruption in FY21 on account of lack of live matches in first half of FY21 and regulatory turbulence triggered by legislative ordinances passed in few of the large states banning real money gaming operations. The lack of stability in the regulatory framework lead to Nazara taking strategically cautious approach in this vertical till further clarity emerges. We have therefore pivoted to a product driven growth strategy versus an aggressive customer acquisition spends led strategy and the team is focused on enhancing existing as well as bringing new product features to differentiate ourselves in this segment.
About Non-Financial GAAP measurement
We use EBITDA as supplemental financial measures. EBITDA is defined by us as net income before interest expense, income tax expense and depreciation and amortization, including share of non-controlling interest. EBITDA as used and defined by us, may not be comparable to similarly-titled measures employed by other companies and is not a measure of performance calculated in accordance with GAAP. EBITDA should not be considered in isolation or as a substitute for operating income, net income, cash flows from operating, investing and financing activities, or other income or cash flow statement data prepared in accordance with GAAP. EBITDA provide no information regarding a Company’s capital structure, borrowings, interest costs, capital expenditures and working capital movement or tax position.
These numbers have not been subjected to audit or limited review.
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Asia
SEGA SAMMY CREATION Launches “Prosperity Peaks™” in Macau

SEGA SAMMY CREATION INC. proudly announces the first installation of Prosperity Peaks™, the latest addition to their successful Dice series, now live on casino floors in Macau. Building on the proven success of its earlier Dice games, this new title continues the legacy with powerful features and a design tailored for Asian players.
The Asian themed Prosperity Peaks™ retains the fan-favorite Dice Wild and Wild Reels features that have defined the series, while introducing an enhanced Jackpot Bonus that delivers more frequent and rewarding win opportunities. Players will experience the thrill of hitting Jackpots more often, adding extra excitement to every spin.
The company stated today that “The Prosperity Peaks™ Link game is designed uniquely for Asia and it’s highly anticipated when we first showcased in recent gaming shows. We deliberately brings all the elements fun and excitement to promote better entertainment on the gaming floor altogether.”
The initial launch in Macau is just the beginning. Prosperity Peaks™ will also be coming soon to additional properties throughout Macau and extended to other key markets.
The post SEGA SAMMY CREATION Launches “Prosperity Peaks™” in Macau appeared first on European Gaming Industry News.
Asia
12BET Goes Crypto with Big Rewards

As cryptocurrency adoption surges worldwide—driven by landmark legislation and growing investor confidence—12BET, continues to lead in embracing digital innovation. Recent U.S. Congressional moves to pass crypto-focused legislation, alongside India’s evolving regulatory stance, mark a global shift towards mainstream acceptance of digital assets.
12BET, a pioneering name in the igaming world since 2007, invites crypto users to experience fast, secure and flexible transactions through its wide range of supported cryptocurrencies. Players can choose from the widely used USD-pegged stablecoin USDT (Tether), Bitcoin (BTC), Ethereum (ETH) and the community-favourite Dogecoin (DOGE). These crypto-friendly payment options ensure seamless access to 12BET’s full entertainment portfolio—meeting the expectations of a new generation of tech-forward players.
“As cryptocurrency continues to reshape how people handle money, we’re proud to give our players modern payment options that reflect our values of fairness and transparency. We’re building a platform that moves in step with global innovation and player-first features,” said Rory Anderson, spokesperson for 12BET.
To celebrate this growing momentum, 12BET is offering all eligible users a spin on their Lucky Wheel, with prizes including an iPhone 16 Pro Max, a 2.5g 999 gold bar and a DJI Osmo Pocket 3—available for a limited time.
This move comes amid growing global crypto adoption, with recent legislative efforts like the GENIUS Act and CLARITY Act in the US, and increased regulatory clarity in markets like India. As the global crypto market surpasses $4 trillion, 12BET is doubling down on its mission to deliver a future-ready, player-first gaming experience.
The post 12BET Goes Crypto with Big Rewards appeared first on European Gaming Industry News.
Asia
Enforcement Directorate of India Issues Fresh Summons to Meta, Google in Online Betting Probe

Executives of tech giants Meta and Google did not depose before the Enforcement Directorate of India (ED) on Monday and have now been given fresh summons for July 28 in a money laundering case linked to promotion of illegal online betting and gambling platforms.
The representatives of the two companies sought deferment of the July 21 summons, saying they need time to collect relevant information and documents before they present themselves for questioning and recording of their statements at the federal probe agency.
The executives have been given a one-week extension and asked to depose on July 28. Once they depose, their statements will be recorded under the Prevention of Money Laundering Act (PMLA).
A Google spokesperson said that the company was “committed to keeping our platforms safe and secure, prohibiting the promotion of illegal gambling ads.”
“We are extending our full support and cooperation to investigating agencies to hold bad actors responsible and keep users safe,” the spokesperson said.
There was no response from Meta.
The federal agency is probing several platforms allegedly hosting illegal betting and gambling links, including instances of advertisements placed for them on various social media outlets and app stores.
The tech giants are understood to have been called by the ED to know how such illegal platforms can place ads on their portals.
Some actors, celebrities and sports persons are also under the scanner of the agency in these cases, and are expected to depose.
The ED has claimed illegal online betting and gambling platforms cheated people of their hard-earned money, and also laundered and evaded paying taxes of up to several crores of rupees.
Google said its “continuous AI advancements, complemented by human expertise, ensure all ads on our surfaces comply with local laws and our strict ad policies, and protect users from evolving threats.”
“Last year alone, we removed 247.4 million ads and suspended 2.9 million advertiser accounts in India,” the firm said.
The ED is investigating more than a dozen cases linked to illegal gambling and betting platforms across the country, including the Mahadev Online Book (MOB) app, whose main promoters hail from Chhattisgarh.
The post Enforcement Directorate of India Issues Fresh Summons to Meta, Google in Online Betting Probe appeared first on European Gaming Industry News.
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