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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.

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NODWIN Gaming Partners with Sony LIV for Streaming Rights of Esports World Cup 2025

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NODWIN Gaming, South Asia’s leading esports and gaming company, has announced that Sony LIV has acquired the Hindi and English language media rights for select matches of the Esports World Cup (EWC) 2025, further amplifying the tournament’s reach and representation across India.

As part of the partnership, Sony LIV will stream select matches from the Esports World Cup in India, bringing the action to millions of fans in languages they resonate with. The Hindi-language broadcast will be available exclusively on the Sony LIV app and official website.

In addition, Sony LIV will also stream the weekly shows, behind-the-scenes features and player interactions spotlighting EWC athletes and teams, curated for both core and casual esports audiences. This collaboration follows NODWIN Gaming’s recent partnership with the Esports World Cup Foundation (EWCF) to manage media rights and regional distribution across South Asia.

Akshat Rathee, Co-Founder and Managing Director of NODWIN Gaming, said: “Our goal is to bring the Esports World Cup to as many passionate fans across South Asia as possible, and this partnership with Sony LIV is a major step in that direction. It combines Sony LIV’s incredible reach with NODWIN’s focus on building localized, fan-first esports experiences. With both Hindi and premium English content, we are creating a viewing experience that feels personal, immersive, and truly regional.”

With the addition of Sony LIV as the exclusive Hindi broadcast partner and NODWIN Gaming as the strategic regional media and marketing partner, the EWC is poised to reach unprecedented heights in South Asia. This aligns with the mission of making esports more inclusive, accessible and locally relevant.

With top-tier Indian talent competing across multiple titles, the Esports World Cup 2025 presents a unique opportunity to showcase India’s growing presence in global esports and to unite audiences around a shared national dream.

The post NODWIN Gaming Partners with Sony LIV for Streaming Rights of Esports World Cup 2025 appeared first on European Gaming Industry News.

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SEGA SAMMY CREATION Launches “Prosperity Peaks™” in Macau

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SEGA SAMMY CREATION INC. proudly announces the first installation of Prosperity Peaks™, the latest addition to their successful Dice series, now live on casino floors in Macau. Building on the proven success of its earlier Dice games, this new title continues the legacy with powerful features and a design tailored for Asian players.

The Asian themed Prosperity Peaks™ retains the fan-favorite Dice Wild and Wild Reels features that have defined the series, while introducing an enhanced Jackpot Bonus that delivers more frequent and rewarding win opportunities. Players will experience the thrill of hitting Jackpots more often, adding extra excitement to every spin.

The company stated today that “The Prosperity Peaks™ Link game is designed uniquely for Asia and it’s highly anticipated when we first showcased in recent gaming shows. We deliberately brings all the elements fun and excitement to promote better entertainment on the gaming floor altogether.”

The initial launch in Macau is just the beginning. Prosperity Peaks™ will also be coming soon to additional properties throughout Macau and extended to other key markets.

The post SEGA SAMMY CREATION Launches “Prosperity Peaks™” in Macau appeared first on European Gaming Industry News.

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12BET Goes Crypto with Big Rewards

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As cryptocurrency adoption surges worldwide—driven by landmark legislation and growing investor confidence—12BET, continues to lead in embracing digital innovation. Recent U.S. Congressional moves to pass crypto-focused legislation, alongside India’s evolving regulatory stance, mark a global shift towards mainstream acceptance of digital assets.

12BET, a pioneering name in the igaming world since 2007, invites crypto users to experience fast, secure and flexible transactions through its wide range of supported cryptocurrencies. Players can choose from the widely used USD-pegged stablecoin USDT (Tether), Bitcoin (BTC), Ethereum (ETH) and the community-favourite Dogecoin (DOGE). These crypto-friendly payment options ensure seamless access to 12BET’s full entertainment portfolio—meeting the expectations of a new generation of tech-forward players.

“As cryptocurrency continues to reshape how people handle money, we’re proud to give our players modern payment options that reflect our values of fairness and transparency. We’re building a platform that moves in step with global innovation and player-first features,” said Rory Anderson, spokesperson for 12BET.

To celebrate this growing momentum, 12BET is offering all eligible users a spin on their Lucky Wheel, with prizes including an iPhone 16 Pro Max, a 2.5g 999 gold bar and a DJI Osmo Pocket 3—available for a limited time.

This move comes amid growing global crypto adoption, with recent legislative efforts like the GENIUS Act and CLARITY Act in the US, and increased regulatory clarity in markets like India. As the global crypto market surpasses $4 trillion, 12BET is doubling down on its mission to deliver a future-ready, player-first gaming experience.

The post 12BET Goes Crypto with Big Rewards appeared first on European Gaming Industry News.

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