Gaming Report: Nazara Continues Acquisition Spree, Flutter Expands Global Footprint & India`s Gaming Scene Levels Up

The gaming world has been anything but quiet lately, with major acquisitions and ambitious plans shaking up the scene both in India and globally.

Nazara Technologies, the publicly listed gaming giant, is on a serious shopping spree. They just snagged an additional 19.35% stake in Absolute Sports (the parent company of Sportskeeda) for ₹145.5 Crores, bringing their total ownership to a whopping 91%. Just days before that, they dropped ₹832 Crores for a 47.70% stake in Moonshine Technology, the parent company of PokerBaazi. And with plans to raise a massive ₹900 Crores, Nazara is setting the stage for serious growth at home and abroad. Their goal is a tenfold increase in revenue in the coming years – ambitious, but with these moves, definitely not out of reach.

Flutter Entertainment, the giant behind brands like PokerStars and FanDuel, is continuing its quest for world domination. They just acquired Italy’s Snaitech for a jaw-dropping €2.3 Billion, cementing their position as a leader in the European gambling market. This move comes right after their investment in Brazil’s NSX Group. It’s clear that Flutter has its sights set on becoming a global giant in both mobile and digital gambling.

Back in India, the E-Gaming Federation (EGF) launched the Manthan Series, a platform designed to bring together everyone involved in the gaming industry – – from the developers and publishers to the policymakers and investors. With India’s gaming sector set to explode in value, the series aims to position India as a global leader in gaming tech and content creation. With government support and a focus on innovation, the Manthan Series could be the spark that ignites India’s gaming scene, making it a significant player on the world stage.

Nazara Technologies Increases Stake in Sportskeeda Parent to Over 90% in ₹145.5 Crore Deal

Nazara Technologies, a publicly listed diversified gaming and sports media company, has announced the acquisition of an additional 19.35% stake in Absolute Sports, the parent company of Sportskeeda, for ₹145.5 Crores. This transaction increases Nazara’s total ownership in Absolute Sports to an impressive 91%, further strengthening its foothold in the sports media space.

This acquisition follows closely on the heels of Nazara’s significant investment in Moonshine Technology (MTPL), the parent company of PokerBaazi. They acquired a 47.70% stake for ₹832 Crores, along with a further ₹150 Crores investment in primary capital. This strategic move underscores Naziara’s ambition to expand its influence in the skill-based gaming sector, particularly in online poker.

Nazara has been actively pursuing an aggressive expansion strategy. With a $100 Million war chest earmarked for strategic acquisitions over the next two years and bolstered by a 13% increase in net profit for Q1 FY25, the company is actively seeking promising growth opportunities.

These recent acquisitions align with the company’s vision for future growth. Nitish Mittersain, founder of Nazara, has consistently emphasized the company’s focus on growth through acquisitions and organic expansion.

In a significant development, Nazara has confirmed plans to raise ₹900 Crores to finance its acquisition spree and global expansion. The capital raised will be utilized for strategic acquisitions and business growth, enhancing Nazara’s ability to capitalize on emerging opportunities.

The preferential equity issue saw participation from prominent investors such as SBI Mutual Fund, CaratLane co-founder Mithun Sacheti, and Plutus Wealth associate Junomoneta Finsol, among others. This marks Nazara’s second fundraise within a year, following the ₹760 Crores raised from marquee investors in recent months.

Nazara has been proactively enhancing its portfolio through strategic investments and acquisitions. It recently acquired UK-based gaming studio Fusebox Games and made a strategic investment in the blockchain space by acquiring a stake in Stan, a blockchain-based e-sports fan engagement startup.

Nitish Mittersain expressed confidence in the company’s expansion strategy, stating, “Increasing our stake to 91% in Absolute Sports reinforces our commitment to supporting innovative teams that deliver transformational growth. We are enthusiastic about the potential of our future acquisitions, which will further enhance our market presence.”

Nazara Technologies is strategically positioning itself as a leader in the gaming and esports sectors. With its recent acquisitions and plans for future expansion, the company is poised to make a significant impact on the global gaming landscape. Mittersain envisions a 10-fold growth in revenue in the next five years, making Nazara Technologies undoubtedly a company to watch in the coming years.

Flutter Expands European Dominance by Snagging Italian Gambling Giant Snaitech For $2.60 Billion

Flutter Entertainment, the powerhouse behind major gaming brands like FanDuel and PokerStars, has made another power move! Hot on the heels of their recent 56% stake purchase in Brazil’s NSX Group, they’ve just announced a whopping €2.30 Billion ($2.60 Billion) acquisition of Italy’s Snaitech. This bold move cements Flutter’s position as a major player in the European gambling scene.

Snaitech is no small fish – it’s the third-largest gambling company in Italy, which happens to be Europe’s biggest gambling market. With online gambling in Italy expected to grow at the rate of 10% in the next few years, Flutter’s Dan Taylor is even more optimistic, predicting even faster growth thanks to the boost in online adoption during the pandemic.

This aggressive move is a clear sign of Flutter’s global ambitions, fueled by its success in the booming U.S. market. While the deal will temporarily increase their debt, Flutter is confident they’ll pay it down quickly thanks to their projected profit growth in the U.S. This financial strength also gives them the flexibility to explore even more deals in the future.

The Snaitech acquisition will give Flutter a major boost in Italy, pushing their estimated online market share to a whopping 30% combined with their existing Sisal brand. Flutter plans to keep both brands running, similar to their successful multi-brand strategy in the UK and India (Junglee Poker and PokerStars India).

Italy’s gambling market is particularly attractive for Flutter, with high spending per adult, a growing mobile gaming sector, and a stable regulatory environment. All of these factors make the Snaitech acquisition a smart and strategic move for the company.

Flutter’s acquisition of Snaitech is a major step in their global expansion plans. It strengthens their position in the lucrative Italian market and paves the way for even more growth in the online gambling industry. With their strong financial position and strategic vision, Flutter is ready to seize any opportunities that come their way!

E-Gaming Federation Launches “Manthan Series” to Foster Dialogue and Innovation in India’s Gaming Industry

The E-Gaming Federation (EGF) has taken a significant step towards promoting collaboration and discussion within the Indian gaming industry with the launch of its “Manthan Series.” This platform aims to bring together key stakeholders, including developers, publishers, policymakers, and investors, to address crucial issues at the intersection of technology and policy. The initiative comes at a time when India’s online gaming sector is experiencing rapid growth, with projections indicating a valuation of ₹231 Billion by FY25.

The launch of the Manthan Series is particularly timely, coinciding with the government’s approval of a legal framework to establish the National Center of Excellence for Animation, Visual Effects, Gaming, Comics, and Extended Reality (NCOE). The series seeks to harness India’s vast potential in the gaming sector, driven by its rich cultural diversity and a rapidly expanding digital economy.

Armstrong Pame, Director of the Ministry of Information and Broadcasting, who graced the launch event, emphasized the significance of the ‘Create in India Challenge’ in encouraging the development of high-quality gaming content inspired by India’s cultural heritage. He stated, “The ‘Create in India Challenge’ will encourage the development of high-quality gaming content based on our country’s culture.” This highlights the government’s recognition of the gaming sector’s potential to contribute to India’s soft power and cultural influence on the global stage.

Anuraag Saxena, CEO of the E-Gaming Federation, expressed his enthusiasm for the Manthan Series, saying, “The E-Gaming Federation is proud to create a platform where we can bring all stakeholders together for a churn of ideas around the future of the gaming sector.” He believes that India’s rich diversity offers immense potential for innovation in the gaming industry and envisions the Manthan Series as a catalyst to unite key stakeholders and explore the role of gaming beyond entertainment and employment.

Saxena further elaborated, “India has a lot of diversity, and it can help us create innovative products. The Manthan Series will help us explore gaming as more than just a source of entertainment or employment.” He emphasized the importance of positioning gaming as a crucial part of Viksit Bharat’s vision, contributing to India’s growth and development. He also highlighted the need for India to lead the world in gaming technologies rather than merely following or creating for the world, as has been the case with traditional technologies.

The inaugural session of the Manthan Series, titled ‘Create in India: Games as a Source of India’s Soft Power,’ set the stage for insightful discussions on how games can enhance India’s cultural influence globally. The session explored the potential of games to showcase India’s rich heritage, storytelling traditions, and artistic expressions to a global audience.

The launch of the Manthan Series marks a significant milestone in the evolution of India’s gaming industry. By providing a platform for open dialogue and collaboration, the E-Gaming Federation is fostering an environment where stakeholders can collectively shape the future of gaming in India.