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Nazara FY24 EBITDA increases by 16.6% to INR 127.9 Cr, Operating Cash Flow of INR 131.4 Cr

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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.

Asia

Groove joins SiGMA Asia panel on resilience of Asian iGaming licensing

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Groove will take part in a regulation-focused panel at SiGMA Summit Asia, with CEO Yahale Meltzer attending and Business Development Director Giusy Campo speaking on the session titled “Jurisdiction Jungle: Who Rules Asia’s iGaming Empire?”.

According to the company, the panel will examine whether Asian licensing regimes can hold up under enforcement, cross-border scrutiny, banking pressure and rising compliance requirements. Topics slated for discussion include audit readiness, payment disruption, tax enforcement, evolving AML expectations and geopolitical shifts.

Giusy Campo, Business Development Director at Groove, said: “The conversation in Asia has matured significantly. Operators are no longer asking just about content volume or time-to-market. They are asking about structural resilience: how a platform handles a studio API failure without impacting player experience, what the data sovereignty protocols are, and whether the compliance architecture is defensive or reactive|”

Campo added: “In a region where banking pressure and regulatory expectations shift rapidly, the platforms that survive will be the ones that built integrity into their stack from the first line of code, not the ones scrambling to patch it in later.” Meltzer said: “The ‘Jurisdiction Jungle’ is not a metaphor for growth; it is a reality for every operator trying to scale across Asia’s fragmented regulatory landscape.” He added: “The mistake some make is treating compliance as a hurdle to clear. We treat it as a design constraint from day one. If your architecture is not built to generate verifiable, immutable audit trails for every transaction, you are not actually ready for Asia’s top tier. Our presence at SiGMA Summit Asia is about having serious conversations with operators who understand that trade-off.”

Groove said it has published a White Paper on navigating the Asian iGaming market, available on its website, and positioned its SiGMA Summit Asia attendance as part of a broader push in Asia following recent expansion moves into LatAm and Africa.

The post Groove joins SiGMA Asia panel on resilience of Asian iGaming licensing appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.

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BMM Testlabs to Exhibit at SiGMA Asia Summit 2026

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BMM Testlabs announced its participation in the SiGMA Asia Summit May 31-June 3 at the SMX Convention Center Manila.

Attendees can visit BMM Testlabs at Stand No. 2619 to learn how the Company supports suppliers, operators and regulators across regulated gaming markets worldwide through its comprehensive compliance and product certification services.

BMM will highlight its ability to test and certify gaming products to every regulator’s standard, anywhere in the world.

In the Philippines, BMM Testlabs is licensed to provide testing and certification services for slot machines, table games, electronic table games, iGaming, bingo, retail and online sports betting, poker and mobile gaming solutions.

BMM Testlabs’ Vice President, Business Development – Asia Jeffrey Fong said: “SiGMA Asia Summit continues to be an important event for the gaming industry across the Asia-Pacific region. We are proud to support suppliers, operators, and regulators with trusted compliance expertise that helps bring products to market efficiently and responsibly. Our global experience, combined with our strong regional knowledge, allows us to help our customers grow confidently in regulated gaming markets throughout Asia and beyond.”

BMM Testlabs continues to expand its support of regulated gaming markets worldwide through its global network of laboratories and technical experts, helping customers achieve faster market access while maintaining the highest standards of quality, security and regulatory compliance.

The post BMM Testlabs to Exhibit at SiGMA Asia Summit 2026 appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.

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BetConstruct AI Showcases AI-Powered Solutions at G2E Asia 2026

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BetConstruct AI participates in G2E Asia 2026 (May 12–14, The Venetian Macao, Stands A1023 & A1029) — Asia’s most significant gathering for operators, innovators and industry decision-makers, and this year, the event puts AI and other emerging innovations at its centre.

The spotlight at the stands will be on the Best Sportsbook for the World Cup 2026: Special Bets, Powerfull and Bet on League form a ready-to-deploy tournament package that lets operators capture the full commercial weight of the world’s biggest sporting event — zero development cycles, zero platform risk.

For the World Cup activation – all at zero cost. New partners unlock a 50% platform setup discount applied immediately, plus 100% Core Suite Access — meaning the Sportsbook and the rest of BetConstruct AI’s offerings are completely free for the first 3 months (50% off for 4-12 months). Third-party tools come at 51% off for 3 months.

Layered on top at this event, the AI Suite — CRM AI, Umbrella AI, AI Game Recommendation System and Betting Mate — handles everything from churn prediction and risk management to real-time personalisation and conversational betting. Beyond all of this, we’re bringing the full picture: The Sportsbook Platform offers over 140,000 pre-match events and 12,000+ monthly esports live events, while the Casino Platform integrates 350+ providers via a unified aggregation API.

The Affiliate Ecosystem, with its Affigates sub-brand, offers 7000+ vetted affiliates and AI-based scoring, completing the acquisition side of the picture.

The post BetConstruct AI Showcases AI-Powered Solutions at G2E Asia 2026 appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.

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