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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

Spotlight Sports Group Expands its Smart View Global Footprint to Hong Kong

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Spotlight Sports Group has launched Smart View for Hong Kong racing, extending the Smart View Engine’s global footprint into one of the sport’s most high-value and internationally recognised betting markets. The product gives operators a proven, scalable tool for engaging Hong Kong racing audiences with data-driven insight. Smart View evaluates hundreds of variables for every runner across seven key performance attributes: Ability, Trainer, Jockey, Course suitability, Distance suitability, Ground effectiveness and Draw bias, distilling that analysis into one clear, definitive rating for every runner.

Happy Valley and Sha Tin are among the sport’s most iconic venues, yet for many punters outside the territory the runner cohort, made up largely of horses bred and raced overseas, can feel unfamiliar. Smart View draws on 40 years of proprietary Racing Post data to remove that barrier, giving punters the context and confidence to engage with one of the sport’s great markets without having to be an expert in it.

The launch adds Hong Kong to an international portfolio that now spans the UK and Ireland, France, USA, UAE, South Africa and Australia.

Sam Houlding, Managing Director of B2B at Spotlight Sports Group, said: “The Racing Innovation Blueprint we unveiled in January set out an ambitious year of product development for Spotlight Sports Group. Smart View for Hong Kong is the latest delivery against that commitment. Hong Kong is one of the world’s premier racing territories, renowned for the quality of its racing and the scale of its betting market. As a data led product Smart View was built to work anywhere in the world and adding Hong Kong is an important milestone as we continue to deliver world-class racing products to our partners around the globe.”

The post Spotlight Sports Group Expands its Smart View Global Footprint to Hong Kong appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.

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FeedConstruct and East Asia Super League Sign Multi-Year Exclusive Data and Streaming Agreement

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FeedConstruct has secured the exclusive worldwide data and streaming betting rights to the East Asia Super League (EASL) under a landmark multi-year agreement. The deal takes immediate effect, covering the remaining final stages of the 2025/2026 season as well as full future campaigns.

EASL, widely regarded as the Champions League of professional men’s basketball in East Asia, features top-performing teams from leading leagues across Japan, South Korea, the Philippines, Mongolia, Hong Kong, Chinese Taipei, and Macau S.A.R.

Through this partnership, FeedConstruct’s global network of partners will gain access to premium, exclusive coverage of EASL action. The agreement spans all international territories excluding Hong Kong, with coverage beginning right away as the 2025/2026 Quarterfinals tip off on March 18.

Narek Harutyunyan, CEO at FeedConstruct, commented: “Signing a multi-year agreement with EASL is an important step for FeedConstruct. East Asia is a fast-growing region for sports, with strong fan engagement and increasing demand for quality content. Through this partnership, we aim to provide our partners with reliable access to EASL competitions across our global network.”

EASL Chief Executive Officer Henry Kerins added: “We are thrilled to join forces with FeedConstruct in this landmark partnership. This collaboration reflects our deep commitment to ensuring that EASL’s data reaches the world responsibly, accurately, and with the integrity our league demands. The demand for official, high-quality sports data continues to grow at an extraordinary pace, and we believe that aligning with a partner of FeedConstruct’s caliber and global reputation accelerates our mission to elevate EASL’s profile on a truly global scale. While we recognize the complexities and sensitivities surrounding the betting industry, we are committed to approaching this space thoughtfully and in full alignment with the standards and values of our league and its stakeholders. This is a partnership we are genuinely proud of.”

The agreement creates a direct bridge between East Asian basketball and the global iGaming ecosystem, enabling operators to tap into a highly engaged audience that has historically exceeded 100 million viewers.

This strategic move further strengthens FeedConstruct’s position as a leading provider of sports data, streaming, and technology solutions, reinforcing its role in connecting the worlds of sport and iGaming on a global scale.

The post FeedConstruct and East Asia Super League Sign Multi-Year Exclusive Data and Streaming Agreement appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.

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BetConstruct AI Fuels Global Innovation Strategy Across Latin America, Asia and Africa

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BetConstruct AI is excited to reveal its significant involvement in several top industry events this March: SAGSE LatAm in Buenos Aires, Argentina, GAT Expo in Cartagena, Colombia, SPiCE South Asia in Colombo, Sri Lanka, and the Africa Gaming Expo in Lagos, Nigeria. As a worldwide leader in iGaming technology, BetConstruct AI is leveraging these platforms to strengthen its dedication to local development and support operators with the 2026 idea of “The Choice.”

Throughout all three continents, our focus is on a vision of technological empowerment. In a more complex regulatory environment, BetConstruct AI surpasses conventional offerings to provide strategic independence. We think the future of international iGaming relies on the operator’s ability to select the most adaptable, insightful, and scalable technology to propel their distinct vision ahead.

During every event, attendees will discover a complete range of solutions designed to cater to the varied needs of local communities. At the core of our presentation are the top-tier Sportsbook and Casino Platforms, designed for optimal stability and fast scalability.

In addition to the primary platforms, we deliver the fundamental framework for a leading online brand. This encompasses CMS Pro for centralized hub administration, SpringBuilder X for mobile-oriented website development, and BetChain AI, which offers an innovative approach to create and design iGaming websites more quickly and intelligently.

The exhibitions will highlight the BetConstruct AI Suite, a set of advanced tools aimed at enhancing and streamlining the operator’s experience:

● CRM AI: Delivering deep behavioral insights to drive player retention.
● Umbrella AI: Providing real-time risk management and automated player protection.
● AI Game Recommendation System: Ensuring personalized content delivery.
● Betting Mate: An intuitive AI companion that elevates the player experience.

Reiterating its commitment to partner success, BetConstruct AI will present The Last Battle Universe, the first B2B loyalty system in the industry designed to recognize performance. Operators reaching a GGR growth rate exceeding 12% (determined by comparing the third month of the current quarter to the third month of the prior quarter) gain access to unique rewards. This comprises a 51% reduction on invoices for Nebula Badge holders, a 50% setup discount for Zenith Badge holders, and complete setup fee refunds to enable direct reinvestment into the platform.

BetConstruct AI encourages all industry stakeholders, operators, and media personnel to engage with our team of specialists at these locations:

● SAGSE LatAm (Buenos Aires, Argentina): March 18 – 19 | Stand 134
● SPiCE South Asia (Colombo, Sri Lanka): March 24 – 25 | Stand 1017
● GAT Expo (Cartagena, Colombia): March 25 – 26 | Stand A31
● Africa Gaming Expo (Lagos, Nigeria): March 25 – 26 | Stand E17

To foster deeper connections beyond the exhibition floor, we are hosting a series of exclusive Harmony Dinners. These invitation-only meetups offer a unique space for BetConstruct AI leaders and our valued partners to align visions in an atmosphere of world-class hospitality:

1. Buenos Aires: March 18 | Hilton Buenos Aires
2. Colombo: March 24 | Shangri-La, Colombo
3. Cartagena: March 25 | Cartagena, Colombia
4. Lagos: March 25 | Lagos, Nigeria

The post BetConstruct AI Fuels Global Innovation Strategy Across Latin America, Asia and Africa appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.

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