Gaming and sports media company Nazara Technologies is betting big on real-money gaming and hopes to achieve ₹100 crore in revenues by the end of FY22, said Nazara chief executive Manish Agarwal.
In the past year, real-money gaming has been fraught with regulatory bottlenecks with states, including Tamil Nadu, introducing changes to their laws to ban real-money gaming platforms.
Agarwal said the Madras High Court judgment favouring real-money gaming platforms and global opportunities could help ramp up the business, as it gears up to make acquisitions in the space.
“The fact that real-money gaming contributes 80% to all e-gaming revenues and recent positives coming from various court judgments is giving us confidence. Considering the positives emerging from the space, we are looking to scale this business… We want to touch ₹100 crore of revenues for every gaming segment we operate in. And skill-based gaming only contributes to ₹15 crore of our overall revenues, at present, which is insignificant. We want to scale this segment to over ₹100 crore in revenues this year,” said Agarwal in an interview. Nazara offers gamified learning, e-sports, free games (freemium), telecom subscriptions and fantasy or real-money gaming.
On Friday, the company announced the acquisition of OpenPlay Technologies for ₹186.4 crore, its second acquisition in the real-money and skill-based gaming space, after the 2019 purchase of Halaplay.
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