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
Construction of Japan’s First Integrated Resort with a Casino Begins

Construction has officially begun on Japan’s first integrated resort with a casino, as MGM Osaka held its groundbreaking ceremony last week. The event, hosted by Osaka IR KK, the project’s promoter, was attended by Osaka Governor Hirofumi Yoshimura and representatives of MGM Resorts International and Japan’s Orix Corporation, the lead partners behind the ¥1.27 trillion ($8.8 billion) development.
Located on the man-made island of Yumeshima in Osaka Bay, MGM Osaka is scheduled to open in the autumn of 2030. The project marks a key milestone in Japan’s long-debated foray into legalised casino gaming. Once operational, it is expected to generate around $5.9 billion annually in gross gaming revenue.
MGM Osaka will feature a casino, three hotels with approximately 2500 rooms, and extensive convention and entertainment facilities, including a 3500-seat theater, 330,000 square feet of exhibition space and 400,000 square feet of conference areas. Dining and retail outlets are also part of the expansive master plan.
“In collaboration with Osaka Prefecture and Osaka City, this project… is expected to contribute to the development of Japan’s tourism industry and the growth of the Kansai region,” a press statement reads.
The complex’s timeline coincides with the tail end of Expo 2025, also hosted on Yumeshima Island. To minimise disruption during the event, construction will be scaled down on peak days and the use of heavy machinery delayed until after the Expo concludes in October.
The resort will benefit from enhanced transportation access. A new Osaka Metro station opened in January to serve Expo 2025 and eventually MGM Osaka, while the Kintetsu Nara Line is being extended to further improve connectivity before the resort opens.
Financially, the project is backed by a ¥530 billion ($3.68 billion) debt financing package led by Mitsubishi UFJ Financial Group and Sumitomo Mitsui Banking Corp., with investments from regional businesses in Osaka.
The post Construction of Japan’s First Integrated Resort with a Casino Begins appeared first on European Gaming Industry News.
Asia
Hero Esports Announces Venues for ACL Grand Finals 2025

Hero Esports, an industry leader and the largest esports company in Asia, has announced its championship venues for the Asian Champions League (ACL) Grand Finals 2025 taking place May 16-18 in Shanghai. The landmark event will transform three of the city’s most iconic venues into battlegrounds for nine premier esports titles, cementing Shanghai’s status as the global esports capital.
The tournament is expected to attract 80,000+ live attendees across three venues, with global broadcasts reaching millions via Twitch, YouTube and TikTok. Participating teams will be competing for a total prize pool of $2 million. Selected ACL winners will earn direct entry to the Esports World Cup in Riyadh, Saudi Arabia—the largest esports event in history due to take place from July to August.
“Shanghai’s selection as our host city reflects its unmatched esports infrastructure and passionate community. By combining elite competition with DreamHack’s festival energy, we’re creating a new blueprint for global esports events,” said Jonny Wang, CEO of ACL.
“This is Hero Esports’ most ambitious project to date. The ACL bridges Asian talents with the world stage while delivering unforgettable fan experiences through cutting-edge production,” said Danny Tang, Co-Founder & CEO of Hero Esports.
The post Hero Esports Announces Venues for ACL Grand Finals 2025 appeared first on European Gaming Industry News.
Asia
LEADING SCORES APP LIVESCORE EYES ASIA GROWTH WITH EXPANDED BRAND PRESENCE IN THAILAND

LiveScore, home to the world’s leading app for sports scores, announces it is expanding its brand activation and presence in Thailand. This development marks a significant milestone in its ongoing commitment to localising its services and engaging with football fans across Asia.
This strategic move highlights LiveScore’s commitment to expanding its presence in the region, beginning with Thailand and Indonesia. LiveScore has experienced substantial growth in Asia Pacific, with Thailand and Indonesia specifically representing a significant portion of LiveScore’s 7.6m users in Asia in 2024.
In line with this expansion, LiveScore has partnered with local agency, Holarchy, to enhance brand awareness and activation in the region. This step is crucial to the overall strategy aimed at engaging fans and brand partners throughout Asia. With the World Cup nearing, this expansion allows LiveScore to connect with dedicated football fans as it seeks to establish itself as the leading platform for football fans, and paves the way for exciting collaborations with regional brands.
This expansion showcases LiveScore’s ongoing commitment to Fuelling Fans’ Passion for Sport, providing localised content, live scores, and news that resonates with fans on a personal level.
To further cement its commitment to local audiences, LiveScore has launched its official Thai social media account, @livescore.th. LiveScore’s Thai-specific account will feature localised content from the global LiveScore account, complimented with content specifically crafted for Thai fans, making it easier than ever for fans to stay engaged with their favourite sports.
Beyond social, fans can look forward to a series of LiveScore events such as watch parties, with all activations designed to bring more fans closer to the games they love.
Dominic Vye, Marketing Director, LiveScore, said: “Sports, especially football, hold immense popularity across Asia. We’ve chosen Thailand as the first country for our Asia expansion because of the undeniable passion of Thai fans. From their vibrant love for food to their pride in national teams and unwavering enthusiasm for the Premier League, Thai fans stand out. With LiveScore already enjoying a strong following and a loyal user base, this expansion marks an incredibly exciting step forward for both us and the fans.”
“LiveScore has always been driven by our mission to Fuel Fans’ Passion for Sport, and the incredible passion of Asian football fans only motivates our commitment to building a personal connection with fans in every market. We’re witnessing a phenomenal growth as fans from all over the world engage with us more than ever, especially as excitement builds towards the World Cup in 2026, and we’re proud to provide them with real-time updates and content that is tailored to their interests and needs.
“This is just the beginning, and we’re looking forward to working with more like-minded brands committed to building meaningful connections with football fans across Asia.”
The post LEADING SCORES APP LIVESCORE EYES ASIA GROWTH WITH EXPANDED BRAND PRESENCE IN THAILAND appeared first on European Gaming Industry News.
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