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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

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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

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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

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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.

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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.

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New Resort & Casino Selects IvedaAI for Intelligent Video Surveillance Ahead of Grand Opening

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Iveda, a global leader in AI-driven video surveillance and smart-city technologies, announced that Subic Sun Development Inc. has chosen the IvedaAI platform as the video surveillance solution for the soon-to-open Subic Sun Resort, Convention & Casino. IvedaAI was selected early in the build-out to inform camera placement and ensure frictionless integration with future-ready, AI-powered analytics. Located on the former U.S. naval base in the Subic Bay Freeport Zone—a special economic hub that hosts thousands of international and local businesses—the resort will feature 500 guest rooms, a state-of-the-art convention center, a luxury casino and two Accor-brand hotels, Ibis Styles and Mercure, scheduled to open in December 2025.

The decision comes as global resort operators sharpen their focus on safety, service and operational efficiency. The global resort market generated $347 billion in 2024 and is projected to reach nearly $945 billion by 2030, an 18.5% CAGR. IvedaAI’s AI-enabled video analytics will help property staff lower security costs, respond to incidents faster and unlock data-driven insights that boost both guest satisfaction and bottom-line performance.

“Iveda being selected as a premier security and surveillance provider before the first Subic Sun Resort guest ever checks in is a powerful endorsement of our commitment to providing state-of- the-art monitoring technology. By designing camera layouts around IvedaAI’s real-time analytics, Subic Sun can optimize coverage, reduce blind spots, and deliver safer, smoother guest experiences—without a costly equipment overhaul. We expect more ground-up projects to follow this blueprint,” said David Ly, CEO and Founder of Iveda.

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Iveda Philippines—Iveda’s joint venture focused on nationwide smart-city deployment—secured the Subic Sun contract and will oversee the on-site rollout. The win represents the team’s first major hospitality project and advances its plan to generate US $3 million in smart-city revenue by FY 2026, building on the broader initiative it announced last year.

The post New Resort & Casino Selects IvedaAI for Intelligent Video Surveillance Ahead of Grand Opening appeared first on European Gaming Industry News.

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FUN88 Thailand Celebrates 17th Anniversary with 17 Spins, Rewards & Newcastle Match Trip

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FUN88 Thailand, a top online gaming platform, is celebrating its 17th birthday with a special month-long event full of exciting rewards and lucky missions. The promotion, running from June 2 to 30, allows members to win amazing prizes like a 7-day trip to watch a live English Premier League Newcastle United match, a luxury Royal Oak watch, 17 spins for a special Anniversary Badge and many more guaranteed rewards.

With the theme “Play with FUN, be FUN”, FUN88 promises a fun and rewarding experience for all players.

How to take part in FUN88’s 17th birthday to win big:

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• BE FUN Lucky Spin: Complete daily or event missions to earn spins. Every spin is a guaranteed win. Grand prizes include a NUFC new season football trip to England, a luxury Royal Oak watch and more.

• Daily Check-In: In the new Rewards Lobby, members who topped up in the past 7 days can check in daily for rewards up to 12,888 THB.

• Top-Up on 8th, 18th, 28th: Get 5 extra spins just by topping up on these special dates.

• Extra Missions: Try missions like Virtual Sports, SOS Insurance Slots, or join “Road to World Cup I” for even more spins.

• Anniversary Badge: Spin the BE FUN Wheel 17 times during the event and get the exclusive 17th Anniversary Badge.

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All event details are available on the FUN88 Promotions page.

The post FUN88 Thailand Celebrates 17th Anniversary with 17 Spins, Rewards & Newcastle Match Trip appeared first on European Gaming Industry News.

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Groove Strengthens Asian Market Footprint with Standout Participation at SiGMA Asia 2025

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Groove Technologies, a leading provider of seamless platform and aggregation solutions, made a powerful impact at SiGMA Asia 2025, solidifying its position as a key partner for businesses scaling across Asia’s booming digital economy. Held from June 1 to 4, the event provided the perfect platform for Groove to showcase its cutting-edge technology infrastructure tailored to the region’s unique demands.

Groove engaged with dozens of industry leaders, demonstrating its next-generation platform and back-office, Groove Command, which combines real-time processing, multi-currency agility, and AI-powered tools, critical features for Asia’s fast-moving markets.

The Manila event highlighted Groove’s seamless integrations with over 150 popular games studios, as well as its portfolio of over 15,000 games which is adding over 100 new games every month.

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Rachel Tourgeman, Head of Partnerships at Groove Technologies, sharing insights about innovation, saying: “Asia’s online gambling landscape is evolving at lightning speed, and Groove is at the forefront, bridging gaps between local preferences and global scalability.”

Tourgeman added: “The conversations at SiGMA Asia confirmed that businesses here need a partner who understands regulatory and cultural nuances while delivering reliability. Our platform, with its data-driven recommender matching players to games, is built for exactly that.”

The event also served as a launchpad for Groove’s new Instant Tournaments Hub, announced during an exclusive networking session. This expansion underscores the company’s commitment to providing localised support for Asian enterprises navigating complex regulations.

Trusted by high-growth businesses worldwide, Groove turns iGaming complexity into a competitive edge with its blend of entertainment ecosystem expertise and technological innovation.

Yahale Meltzer, Co-Founder and COO of Groove Technologies, reflected on the event’s success: “SiGMA Asia 2025 wasn’t just about visibility, it was about validation. The demand for our solutions in markets like the Philippines, India, and Australia exceeded expectations. With our strengthened regional infrastructure and partnerships, Groove is poised to become the iGaming backbone for Asia’s digital growth story.”

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The post Groove Strengthens Asian Market Footprint with Standout Participation at SiGMA Asia 2025 appeared first on European Gaming Industry News.

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