Asia
Spintec and APE to renew their exclusive distribution agreement for Southeast Asia
The cooperation between Spintec Gaming Technology and Asia Pioneer Entertainment Limited (APE), which has started more than 10 years ago, has proven beneficial for both parties and has yielded important business success in the region. APE as the largest electronic table game distributor in Asia has now become the exclusive distributor for Spintec products beside Macau also in Singapore, Philippines, and Malaysia, while also remaining their trusted partner in Vietnam and Cambodia.
The 3-year exclusive distribution agreement covering the large part of Southeast Asia is providing both partners with a valuable gambit to tackle the demands of the fast-growing market in the post-pandemic era. As the market is opening and growing, both partners will be taking advantage of their strong market positions and superior products to enhance their presence in the region even further.
Their previous cooperation has brought exceptional results in all the markets of the region, but especially in Macau. With its sheer size and tight regulation, but especially with the introduction of the EGM 2.0 standard, the Macau market is becoming one of the most demanding gaming markets in the world. Spintec products are of extremely high quality and have been hugely popular in Macau, not least because of the excellent services provided by APE. Spintec products are also fully compliant with all the regulations in Macau, including the EGM 2.0, so the partners are confident that their presence in this highly demanding market will continue to flourish.
Maria Garcia, Sales Director at APE for Macau & Southeast Asia, says of the cooperation: “It is truly an honor to be working with a producer of electronic table games of such high quality and a partner that is fully committed to growing in this important region.” Mitja Dornik, Regional Sales Manager at Spintec, agrees: “Our performance in Southeast Asia is growing day by day and we are thrilled to see that APE is helping us extremely on this path.”
Herman Ng Man Ho, CEO at Asia Pioneer Entertainment Limited, emphasises the importance of the high product quality in their partnership: “As the largest electronic table game distributor in Asia, it is our company policy to work with the best producers in every segment and Spintec is definitely a part of the ETG elite.” Spintec’s CEO Goran Miskulin is also extremely proud with their cooperation with APE: “Asia Pacific is one of the most important regions for us and we are thrilled to be cooperating with a partner that recognises our advantages and is able to translate them into a strong market presence.” Goran Sovilj, Spintec’s Global Sales Director, recognises the challenges of the Southeast Asian markets: “These markets are very lucrative, but only if the commitment to quality and service diligence is paramount. We realize that we need a strong and reliable partner to deliver in this region and with APE we have found just that.”
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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.
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.
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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