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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.
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Blask enhances iGaming analytics with daily historical data for informed decision-making
Blask, the iGaming analytics ecosystem, has announced a new update to its services: the introduction of daily historical data analysis extending back to 2017. This advancement offers gaming operators exceptional precision in tracking and optimizing market performance.
Previously, Blask users were limited to monthly aggregate views of key metrics like the Blask Index and Relative Market Share, especially for data prior to 2021. This limitation posed challenges in navigating and planning within the market. The new daily data granularity allows organizations to make more informed decisions based on comprehensive and accurate information, moving beyond monthly approximations that might overlook critical market movements.
“This enhancement transforms how operators can evaluate their sponsorship effectiveness and marketing investments,” stated George Gajevskiy, Chief Product Officer of Blask. “By providing detailed daily historical data, we’re enabling our partners to optimize their marketing strategies more precisely than ever before.”
Blask’s AI technology has advanced its data analysis capabilities, enabling the processing and interpretation of vast amounts of historical data with remarkable precision. This technological leap enhances the platform’s ability to provide granular insights, particularly during events like the Indian Premier League (IPL), the Olympic Games, or the World Cup, where market dynamics can shift dramatically within hours.
The system leverages advanced machine learning algorithms and big data analytics to process extensive brand presence data, delivering reliable market intelligence through:
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Real-time monitoring of market fluctuations and peak playing hours
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Long-term trend analysis and seasonal pattern identification
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Competitive positioning and market share tracking
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Player engagement and retention metrics
Blask’s AI modeling ensures highly accurate analysis of historical data, setting a new industry standard for precision and accessibility in iGaming analytics.
The new feature is accessible when users select a date range of up to 90 days. For date ranges exceeding three months, the system automatically adjusts to display metrics in monthly intervals, ensuring optimal performance and data visualization while maintaining comprehensive trend analysis capabilities. This adaptive display mechanism allows users to balance between detailed daily insights for shorter periods and broader trend analysis for extended timeframes.
Blask has consistently been a game-changer in the iGaming analytics space, allowing operators to stay ahead of the competition with real-time data. With the introduction of daily granularity for long-term data, users can delve deeper into the dynamics of the Blask Index and Relative Market Share over extended periods. This feature enables analyzing trends day-by-day over months or even years, providing unparalleled precision and flexibility.
The post Blask enhances iGaming analytics with daily historical data for informed decision-making appeared first on European Gaming Industry News.
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Revolver Gaming Partners with WOW Vegas to Revolutionise the Social Casino Experience
Revolver Gaming, a leading developer of dynamic and innovative online slots, is thrilled to announce its latest partnership with WOW Vegas, one of the fastest-growing names in the social casino space. This strategic collaboration is set to redefine the gaming experience for players by bringing Revolver’s premium slot portfolio to WOW Vegas’ expanding audience.
Revolver Gaming has built a stellar reputation for crafting visually stunning games that combine immersive gameplay, innovative features, and captivating narratives. Titles such as Gumball 7’s, praised for its unique bonus mechanic on every spin, and Badlands, renowned for its side wind wild feature, have cemented Revolver’s place as a top-tier slots provider in the iGaming industry.
Ryan Lazarus, CEO at Revolver Gaming, expressed his excitement for the partnership:
“We are delighted to team up with WOW Vegas, a brand that shares our commitment to delivering exceptional gaming experiences. Their platform’s emphasis on entertainment and engagement aligns perfectly with our vision. Together, we aim to raise the bar for social casino gaming, bringing an exciting new wave of content to WOW Vegas players.”
Samuel Morales Sanchez, Social Casino Manager at WOW Vegas added:
“This partnership with Revolver Gaming is a significant step forward in our mission to offer the best in social casino entertainment. Revolver’s games are renowned for their quality and creativity, and we’re confident that our players will love the dynamic features and thrilling gameplay they bring. We look forward to seeing the positive impact this collaboration will have on our platform and community.”
A Partnership to Elevate Social Casino Gaming
Through this partnership, WOW Vegas will integrate Revolver Gaming’s signature slots into its platform, offering players an enhanced gaming library filled with innovative and engaging titles. The collaboration underscores WOW Vegas’ commitment to providing top-tier gaming content while enabling Revolver Gaming to expand its reach in the social casino space.
The post Revolver Gaming Partners with WOW Vegas to Revolutionise the Social Casino Experience appeared first on European Gaming Industry News.
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Middlesbrough Foundation set to benefit as principal partner Kindred donates front-of-shirt sponsorship in support of life-changing work across Teesside
The life-changing work of the Middlesbrough FC (MFC) Foundation is set to receive a significant boost this weekend. The club’s principal partner, Kindred, has donated its front-of-shirt sponsorship ahead of the game against Hully City (Saturday 30th November), so that MFC can highlight its inspirational work across Teesside. Normally, the logo of gambling operator Unibet – with “Zero% Mission”, which is Kindred’s Responsible gambling message – would adorn First Team shirts.
The move is part of the club’s ‘Foundation Weekend’, and forms part of an initiative to highlight the Foundation’s life-changing work for participants of all ages in the local community, as well as how people in the area can access its projects and services.
The MFC Foundation works to raise aspirations and improve the life chances of young people and adults across Teesside. Its work is supported and funded, in part, by the club’s commercial partners, including Kindred Group.
Kindred is a long-term, valued partner of the club. As part of its commercial relationship with MFC, Kindred supports MFC Foundation’s ‘Think With Your Feet’ – a programme that enables local men to meet, play football and discuss their mental health issues in a safe, respectful environment. MFC Foundation works to raise aspirations and improve the life chances of young people and adults across Teesside.
Earlier this season, ‘Boro star Isaiah Jones sat down with a group of participants from the course where they chatted openly about mental health and the benefits of the ‘Think With Your Feet’ programme.
Kindred have partnered with Middlesbrough since 2018, making it one of the most successful and long-running in British football. It is due to run until at least 2027.
Sam Mead, UK General Manager, Kindred: “Our relationship with Middlesbrough FC and their Foundation is a long-running, deep and supportive one. We are all aware, and incredibly proud of, the Foundation’s incredible work in the North-East community. As such, we are delighted to once again donate our normal front-of-shirt space to the Foundation for this weekend’s fixture against Hull City. In the spirit of what this weekend is all about, we would urge supporters to seek out the MFC’s outreach programmes, if they feel they could benefit from the various initiatives on offer. Please visit mfcfoundation.co.uk for further information”
The post Middlesbrough Foundation set to benefit as principal partner Kindred donates front-of-shirt sponsorship in support of life-changing work across Teesside appeared first on European Gaming Industry News.
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