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.
8MBets
Himalayan Harmony Group Announces 2026 Nepal Online Casino Portfolio with Six Licensed Brands
Himalayan Harmony Group (HHG) has announced its 2026 portfolio of Nepal online casino brands, introducing six platforms that operate under Curacao Gaming Licenses with native Nepali language interfaces and integrated local payment options through eSewa and Khalti.
The Kathmandu-based management entity oversees and partners with the following six online casino brands: 8MBets Online Casino Nepal, MJ88 Online Casino Nepal, NPR77 Online Casino Nepal, Magar33 Online Casino Nepal, eSewa12 Casino Nepal and AW33. All six brands fall under the Himalayan Harmony Group umbrella, each operating as a distinct platform while sharing a common foundation of Curacao licensing and features built specifically for Nepalese players.
“Our commitment is to provide Nepalese players with a secure, localized, and premium online gaming experience. Each brand in our portfolio features Nepali language interfaces and direct integration with eSewa and Khalti, ensuring our platforms match how players in Nepal prefer to engage and transact,” said a Himalayan Harmony Group spokesperson.
Curacao Gaming Licenses and Localised Infrastructure
Each of the six brands — 8MBets, MJ88, NPR77, Magar33, eSewa12 and AW33 — holds a Curacao Gaming License, providing players with a licensed and regulated environment for online gaming activity. Beyond licensing, the platforms are built with seamless Nepali language interfaces that allow players to navigate, register and play without language barriers, rather than relying on translated overlays from other markets.
Local Payment Integration Through eSewa and Khalti
A central feature of the portfolio is expert integration with eSewa and Khalti, two of Nepal’s most widely used digital payment gateways. Players across all six platforms can manage deposits and withdrawals through these familiar local methods, enabling secure account management without the need for international payment processors or currency conversion.
FIFA Betting Opportunities Across All Six Brands
With the 2026 portfolio timed alongside upcoming FIFA events, all six brands will offer betting options for FIFA matches. Players can place bets across 8MBets, MJ88, NPR77, Magar33, eSewa12 and AW33 for opportunities to win prizes during major international football tournaments.
A Portfolio Built for the Nepalese Market
The consolidated portfolio gives Nepalese players access to multiple distinct Nepal online casino platforms, each maintaining its own identity and interface. Whether players choose 8MBets, MJ88, NPR77, Magar33, eSewa12 or AW33, they benefit from the same Curacao-licensed framework, Nepali language support and local payment infrastructure managed by Himalayan Harmony Group.
The post Himalayan Harmony Group Announces 2026 Nepal Online Casino Portfolio with Six Licensed Brands appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.
Asia
PhilWeb Showcases Technology-Driven Growth Vision at SiGMA Asia 2026
PhilWeb Corporation has reinforced its position as a technology-driven company at SiGMA Asia 2026, highlighting its continuing transformation through digital innovation, scalable platform solutions and strategic technology investments aligned with the rapidly evolving digital economy in Asia.
As one of the Philippines’ established technology and platform providers, PhilWeb participated in SiGMA Asia 2026 to showcase its long-term vision centered on digital infrastructure, operational scalability, customer engagement technologies and future-ready platform development. The company’s presence at the international event reflects its broader strategy of strengthening its role within the growing technology, digital entertainment and fintech ecosystem in the region.
With more than 25 years of operational experience, PhilWeb continues to evolve alongside changing market demands and technological advancements. Over the years, the company has steadily expanded its capabilities through investments in platform modernization, integrated digital systems, payment technologies and data-driven operational tools designed to support scalable and efficient business operations.
As industries across Asia continue to undergo digital transformation, PhilWeb sees increasing opportunities in technology-enabled ecosystems where connectivity, automation, customer experience and operational efficiency play increasingly important roles in long-term business growth.
At SiGMA Asia 2026, the company highlighted initiatives focused on strengthening its digital ecosystem through improved platform capabilities, enhanced payment integration infrastructure and technology solutions designed to support seamless experiences across both physical and digital customer environments.
PhilWeb also emphasised the growing importance of integrated platforms and scalable digital operations as consumer behaviour continues to shift toward more connected and technology-driven experiences. The company continues to adapt to these evolving trends by exploring innovations that improve accessibility, operational flexibility and customer engagement.
Participation at SiGMA Asia 2026 also provided PhilWeb with opportunities to engage with international technology firms, fintech companies, digital infrastructure providers, payment solutions companies and regional business partners as it continues to strengthen its long-term growth strategy.
Beyond technology expansion, PhilWeb continues to prioritise governance, compliance-driven systems, operational transparency and sustainable business.
The post PhilWeb Showcases Technology-Driven Growth Vision at SiGMA Asia 2026 appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.
Asia
NODWIN and Nodding Heads launch India Games Showcase with Summer Game Fest
NODWIN Gaming and Nodding Heads Games are launching the inaugural India Games Showcase (IGS), a digital event set to premiere on June 8 as an official partner showcase of Summer Game Fest. The broadcast will feature 40 curated Indian indie games across trailers, reveals, gameplay segments and announcements.
The India Games Showcase will be accompanied by a dedicated Steam event aimed at helping players discover, follow and wishlist participating titles. The event is scheduled for 10 AM PT / 10:30 PM IST and will stream on YouTube and Twitch.
NODWIN Gaming Co-founder and Managing Director Akshat Rathee said: “There is a raw, untapped creative energy in the Indian indie ecosystem right now that is completely unique. We are seeing developers blend world-class mechanics with incredibly rich, localized storytelling that the global gaming community hasn’t experienced before. We want to make sure that a brilliant game built in India doesn’t just stay a local secret, but gets the global eyeballs, distribution, and recognition it rightfully deserves.”
Nodding Heads Games Co-founder and Game Director Avichal Singh added: “The debut of India Games Showcase proves that Indian indies are making strides as they arrive and make a presence internationally. The rise of quality and genre variety titles in recent years is very promising. Our partnership with the world’s biggest showcase, Summer Game Fest, is another mark of approval for the country. We’re excited for the times ahead.”
Ahead of the broadcast, the organisers named the first set of participating games, including Raahi (Kalp), Dodo Duckie (BornMonkie), Loop : Beginning Of Never Ending Journey (Pravin Nikam), Rakshasa (Odd Compass Studio), and Silkgrove (Gallic Entertainment). The showcase is spearheaded by Nodding Heads Games, the studio behind Raji: An Ancient Epic.
The post NODWIN and Nodding Heads launch India Games Showcase with Summer Game Fest appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.
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