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Indian gaming companies enter big league with rising monetisation, global acquisitions
Economic Times
·
2m ago
Medial
India's gaming industry is thriving, with rising monetisation and global interest in local gaming IPs and talent. Companies like Nazara Technologies are expanding through acquisitions, while investors like Krafton explore Indian gaming opportunities. Non-real money games are gaining traction, with revenue from midcore games increasing. AI is democratizing game development but may heighten monetisation challenges. Despite a recent dip in venture capital, the market holds promise similar to China’s 2008 gaming boom, with growing global recognition.
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Nazara Sets Aside $100 Mn For M&A To Expand Global Footprint
Inc42
·
1y ago
Medial
Indian gaming major Nazara Technologies has announced that it plans to allocate $100 million towards mergers and acquisitions (M&A) over the next two years to strengthen its global foothold. The company recently raised $90 million through a preferential allotment, with investors including Nikhil Kamath and ICICI Prudential MF, among others. Nazara is particularly interested in opportunities in gaming, esports, adtech, and emerging technologies like Web3, virtual reality, and AI. The company has had success with its "acquire and scale" strategy, having acquired companies such as Sportskeeda, Nodwin Gaming, and Kiddopia.
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Real money gaming startup Fantok halts operations after 28% GST rule
Entrackr
·
1y ago
Medial
Fantok, a real money gaming app, temporarily halts operations due to the 28% GST on online real-money games imposed by the Indian government. Similar actions were taken by Mobile Premier League, Spartan Poker, Hike Rush Gaming Universe, One World Nation (OWN), and Quizy. The tax and operational challenges led Fantok to this decision, while they evaluate strategic pivots to align with the evolving regulatory landscape. Other gaming companies and investors have protested the GST decision as well.
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Indian gaming companies facing tougher challenges compared to China: Salone Sehgal of VC fund Lumikai
Economic Times
·
3m ago
Medial
Indian gaming companies face tougher challenges compared to China, says Salone Sehgal of Lumikai, a gaming-focused venture capital fund. Indian firms must compete with big tech in a less protected market, fostering capital efficiency and persistence. India's gaming sector is growing rapidly at 20% annually, unlike the saturated Western markets. The online gaming industry is projected to more than double, reaching $9.1 billion by 2029, promising significant returns for early investors.
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Nazara eyes ₹1,000 crore game studio revenue with ₹830 crore acquisition plan
Livemint
·
1y ago
Medial
Indian gaming company, Nazara Technologies, plans to increase its game development division's annual revenue from INR 350 crore in FY23 to INR 1,000 crore by FY25. The company aims to achieve this target by utilizing a fund of INR 850 crore allocated for mergers and acquisitions. Nazara's acquisition strategy involves targeting both Indian and global gaming platforms and scaling up the acquired gaming IP. The company's focus will be on strengthening the gaming vertical, with its game studio business expected to contribute significantly to revenue growth.
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South Korea’s Krafton, others invest in JetSynthesys
VCCircle
·
3m ago
Medial
South Korean digital entertainment firm Krafton has invested an undisclosed amount in JetSynthesys, an Indian digital entertainment company focused on video gaming and e-sports. JetSynthesys aims for 20x revenue growth over six years, intending to expand internationally while strengthening its Indian operations. The company plans to utilize the funds for targeted acquisitions and organic growth. Krafton, known for significant Indian investments, is enhancing its global gaming and digital entertainment portfolio with this move.
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Gameskraft, Spartan Poker among gaming firms omitted from IAMAI-Chandrasekhar Meet
Inc42
·
1y ago
Medial
The Internet and Mobile Association of India (IAMAI) has retracted its invitation to gaming companies Gameskraft and Spartan Poker for a closed-door meeting with Minister of State for Electronics and Information Technology, Rajeev Chandrasekhar. This decision comes after feedback from the minister's office. The meeting, part of the India Gaming Convention, aims to discuss "building certainty for online gaming." Other major gaming companies such as Dream11, Mobile Premier League, Games 24x7, and Zupee are still expected to participate. The gaming industry is currently facing issues with alleged tax evasion and increased GST rates.
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Online poker platform Spartan Poker lays off 125 people after 28% GST blow
Money Control
·
1y ago
Medial
Spartan Poker, an online poker platform, has laid off 125 employees, constituting 40% of its workforce, allegedly due to the impact of the Indian government's 28% GST on the real-money gaming sector. This downsizing follows similar actions by companies like Mobile Premier League and Hike. Spartan Poker has not commented on the situation. The GST Council's decision to levy 28% GST on real-money games has affected the gaming industry, despite partial relief recommendations.
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Nazara Partners ONDC To Launch In-Game Shopping Platform
Inc42
·
8m ago
Medial
Nazara, an Indian gaming company, has launched gCommerce, an in-game monetisation platform. This platform aims to provide game developers with additional revenue sources through an affiliate revenue-sharing model. Developers will earn a commission on successful transactions made by players through the platform. The platform will be supported by the ONDC Network, allowing Nazara to connect with sellers across various categories and offer a wide range of products to gamers.
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Double whammy coming for already struggling real gaming companies
Economic Times
·
1y ago
Medial
Real money gaming (RMG) companies such as Dream11, Games24X7, and Mobile Premier League (MPL) will face cost pressures as Google plans to charge service fees for listing these apps on the Playstore starting July 1. This comes as a setback for these companies, who are already dealing with the impact of the increased GST rate of 28%. Gaming companies have been benefiting from Google's support, but this change will add to their challenges.
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MPL Parent M-League’s FY24 Revenue Jumps 22% To $128 Mn
Inc42
·
9m ago
Medial
M-League, the parent company of gaming unicorn Mobile Premier League (MPL), reported a 22% increase in operating revenue to $127.9 million in the fiscal year 2023-24. Despite the impact of a 28% GST on online gaming, the company's revenue in India grew by 35% to approximately $88 million. Furthermore, M-League achieved break-even with an adjusted EBITDA of $0.2 million, compared to an adjusted EBITDA loss of $44.7 million in the previous fiscal year.
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