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.
The Asian Poker Tour has announced the cancellation of APT Manila 2025, which was scheduled to take place from May 30 to June 8, 2025, at the City of Dreams Manila.
The next scheduled APT tour stop following the upcoming APT Taipei 2025—running April 25 to May 4 with a TWD 70M (~USD 2.1M) guaranteed Main Event—will be the APT Incheon 2025; boasting a KRW 2.5M buy-in Main Event with a KRW 1.5B (~USD 1M) guarantee running August 1-10 at the Paradise Hotel & Resort.
This will be followed by the APT Jeju 2025, which boasts a KRW 2.6M buy-in Main Event with a KRW 2.2B (~USD 1.5M) prize pool guarantee and runs from September 26 to October 5 at Jeju Shinhwa World.
The 2025 APT poker schedule will conclude with the thrilling end of year APT Championship (APTC), which runs from November 14-30, 2025 at the Red Point Center’s brand new “Red Space” venue located in central Taipei.
The APTC Main Event boasts a massive TWD 165 million (~USD 5 million) prize pool guarantee – the largest the tour has ever offered.
Players can win their seat to this exciting TWD 350,000 (~USD 10,700) freezeout by competing in the tour’s three signature events—the APT Main Event, the APT High Roller and the APT Super High Roller—at each of the three remaining APT tour stops preceding the APTC.
The post Asian Poker Tour Announces Cancellation of APT Manila 2025 appeared first on European Gaming Industry News.
GOD55, a premier online gaming platform and leading operator in Southeast Asia, is proud to announce its partnership with Birmingham City Football Club as the club’s Official Asian Betting Partner.
Established in 2016, GOD55 has become one of the biggest and most trusted brands in the online gaming industry, offering a wide range of betting and entertainment options, including casino games, sports betting, and live dealer experiences. Leveraging cutting-edge technology, the platform provides users with seamless mobile and desktop access, real-time data integration, and high-quality streaming for live events.
As part of this exciting partnership, GOD55 has launched an exciting announcement film, filmed on location at Birmingham City’s St. Andrew’s @ Knighthead Park and Elite Performance Innovation Centre.
A spokesperson for GOD55 commented: “We are delighted to partner with Birmingham City, a club with a rich history and a dedicated global fanbase. This collaboration reflects our commitment to connecting with football enthusiasts and delivering an enhanced entertainment experience. Together, we aim to engage fans in innovative ways, celebrating the beautiful game while offering a world-class gaming platform for our users in Asia.”
Birmingham City also expressed their excitement about the partnership: “We’re thrilled to welcome GOD55 to the Birmingham City family as our Official Asian Betting Partner. This partnership highlights the club’s growing international appeal and provides an opportunity to further engage with our supporters in Asia. We look forward to working closely with GOD55 to achieve great things together.”
The post Birmingham City Forms Alliance with GOD55 as Their Official Asian Betting Partner appeared first on European Gaming Industry News.
FOMO7, a trusted name in online entertainment, has unveiled a massive update to its gaming platform with 46 exciting new Indian lottery games, giving players even more chances to win guaranteed prizes in addition to their regular winnings.
This new launch brings a diverse mix of India’s most beloved lottery formats, including:
• Kerala Lottery
• Speed Matka Lottery
• Daily Matka Lottery
• Dear Lottery
• Daily Pick3, Pick4 & Pick5 Lotteries
• Wingo Lottery
With minimum bets starting at just ₹6, draws are held as frequently as every minute, and scheduled daily, weekly, and at popular time slots like 8 AM, 9 AM, 5 PM, 8 PM and 10 PM, offering a dynamic and rewarding experience for both casual and seasoned players. Top winnings go up to ₹10 Crores, making this one of the most lucrative opportunities in the online lottery space today.
In addition to its rich selection of lottery games, FOMO7 offers a comprehensive gaming experience with casino games, sports betting, instant sports and classic live sports, catering to all kinds of online gaming enthusiasts.
The post FOMO7 Expands Platform with 46 New Indian Lottery Games appeared first on European Gaming Industry News.
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