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Nazara records Rs. 4,466 Mn revenue for 9MFY22, EBIDTA grows by 141% to Rs. 797 Mn for the same period

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Nazara Technologies Limited an India based, diversified gaming and sports media platform with a presence in India and across emerging and developed global markets such as Africa and North America, announced its un-audited Standalone and Consolidated results for the quarter and nine months ended31st December 2021.

As of December 31, 2021, Nazara has diverse business segments with revenue generation accruing across gamified learning, Esports, freemium and telco subscriptions.

 

Key Consolidated Financial Highlights for 9MFY22 are as follows:

 

ü  Operating Revenues grew by 35% YoY to Rs. 4,466 million

ü  EBITDA* stood at Rs. 797 million, a growth of 141% YoY

ü  EBITDA* margins stood at 17.8% v/s 10.0% for 9MFY21

ü  Delivered a PAT of Rs. 428 million, growth of 355% YoY; PAT margin of 9.6%

 

*EBITDA excludes other income

The Consolidated Revenue Mix across business segments stood as follows:

 

ü  Esports segment has demonstrated 75% growth in revenue as well as 71% growth in EBITDA in the first 9MFY22 and has continued the YoY revenue growth momentum witnessed in FY 20-21 (102% growth over FY20). eSports has witnessed 70% revenue CAGR over the past 3 years. This segment now contributes the highest revenue in Nazara portfolio with 48% contribution in 9MFY22 revenue vs 37% in 9MFY21.

ü  Gamified Early Learninggrew by 22% in 9MFY22 over 9MFY21 and added net positive paying subscriber base in Q3.

ü  Skill based Real Money Gaming grew by 53% in 9MFY22 over 9MFY21 and delivered break even EBITDA in Q3 as against losses in previous quarters.

 

Commenting on the performance, Mr. Manish Agarwal, Group CEO, said,

“Nazara declared revenue of Rs. 4,466 Mn in 9MFY22 vs Rs. 3,308 Mn in 9MFY21, a growth of 35% on YoY basis, and our 9MFY22 EBIDTA surged by 141% to Rs. 797 Mn as compared to Rs. 331 Mn in 9MFY21.

For Q3FY22, we reported revenue of Rs. 1,858 Mn vs Rs. 1,304 Mn in Q3FY21, a growth of 42% on YoY basis, and our Q3 EBITDA came in at Rs 302 Mn as compared to Rs. 273 Mn in the same quarter of the previous year.

Overall, we are pleased with our growth in strategic areas of focus while maintaining healthy profitability and cash flows.

We have witnessed 75% YoY growth in the esports segment for 9MFY22 led by strong growth in revenue across all sub-segments in Nodwin and SportsKeeda. The addition of original IPs such as NH7 Weekender and expansion of our esports business into the Middle East via our acquisition of Publishme has further accelerated the growth momentum.

Nazara’s strategy of having a diversified portfolio across business segments in gaming continues to provide us with a stable and strong platform on which we can continue to build future growth and success.

Nazara continues to remain committed to building multiple growth levers across gamified learning, freemium, esports, and skill-based real money gaming via growth in its current portfolio and the addition of more offerings in the ‘Friends of Nazara’ network through strategic M&A.”

George Miller (Gyorgy Molnar) started his career in content marketing and has started working as an Editor/Content Manager for our company in 2016. George has acquired many experiences when it comes to interviews and newsworthy content becoming Head of Content in 2017. He is responsible for the news being shared on multiple websites that are part of the European Gaming Media Network.

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Cubeia expands Originals Studio with Turbo Crash launch

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Cubeia, a Sweden-based iGaming software solutions provider, has unveiled the latest addition to its Originals Studio, Turbo Crash – a fast-paced, adrenaline-fuelled game designed to test players’ instincts.

Turbo Crash challenges players to make the ultimate risk-versus-reward decisions in search of astronomical returns. Players place their bets and watch the multiplier soar higher and higher – but timing is everything. It’s possible to cash out at any moment with a single click and every round can be verified for total transparency and trust thanks to its Provably Fair design.

Turbo Crash continues Cubeia’s Originals Studio mission to create operator-first, fully brandable games inspired by its Operator-Up philosophy – built from the ground up around what operators and their players need.

Cubeia’s investment in gamification and community-driven features is reflected in its latest release with challenges, achievements, and duels all available to bring players closer together.

A very successful first year for Cubeia Originals has validated this approach, and with Turbo Crash, the company is setting the pace for what an Originals experience can become as it scales the portfolio further.

Cubeia’s Head of Sales, Caroline Björkman, said: “Launching Turbo Crash as we approach our first anniversary is the perfect way to celebrate how well Originals Studio has established itself in the market. In less than a year, we’ve launched ten distinctive titles – from Mines and Crash to Turbo Crash – and built a portfolio that operators can rely on and players genuinely enjoy.”

The post Cubeia expands Originals Studio with Turbo Crash launch appeared first on European Gaming Industry News.

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INSPIRED EXPANDS ITS iGAMING PORTFOLIO WITH A DUO OF NEW SLOTS: WEREWOLF IT UP! & ZEUS LEGENDS OF OLYMPUS

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Inspired Entertainment, Inc., a leading B2B provider of gaming content, systems, and solutions, is excited to announce the launch of Werewolf It Up! featuring Cash Bank and Zeus Legends of Olympus featuring Triple Hit Combo across the UK and Malta iGaming markets. Packed with captivating visuals and engaging gameplay, this online and mobile slot duo is designed to deliver strong results for operators and offers the best in iGaming entertainment for players.

Werewolf It Up featuring Cash Bank is the Halloween-themed follow-up to Inspired’s smash hit Wolf It Up! Set in a mystical, spooky forest, the game combines fairy-tale charm with thrilling win potential. The base game introduces cash-packed candy symbols and the Bonus Wolf, which together trigger the Cash Bank Free Spins Bonus with eight free spins. A pseudo-persistence mechanic adds further excitement, with collected candies building towards the Lucky Wheel for chances to win one of four Prize Pots.

As with all our games, players can enhance their gameplay with customisable features including Bonus Buy for instant bonus entry, Fortune Spins for boosted hit potential, and Inspired’s Gamble, for potentially bigger rewards. Werewolf It Up delivers spook-tastic thrills, fun features, and a broad appeal for casual players looking to win big this Halloween.

Zeus Legends of Olympus featuring Triple Hit Combo is a 5×3 reel, 20 win-line slot adventure that brings the power of Zeus, the King of the Ancient Greek Gods, to the reels. In a new art style for Inspired, the game blends ancient Greek mythology with fun gameplay features, the game introduces Inspired’s new Triple Hit Combo mechanic, designed to deliver escalating excitement and legendary rewards.

Players collect coins to feed three pseudo-persistent bags, Double Coins, Pot Fill, and Zeus Boost, that unlock epic bonus rounds powered by Inspired’s thrilling Win & Spin mechanic. With expanding reels, escalating prizes, and Zeus himself boosting values, every spin builds suspense toward greater wins. Optional features include Bonus Buy, Gamble, and a new multi-level Fortune Bet that allows players to supercharge their bonus rounds. Zeus Legends of Olympus combines a mythic theme and modern gameplay with Inspired’s signature innovation.

Claire Osborne, Vice President of Interactive at Inspired Entertainment, said: “We’re thrilled to unveil these two exciting new slots, each offering something truly unique for players. Werewolf It Up! is set to be this Halloween’s standout game, blending proven mechanics with spooky, visuals that will have players howling with delight. Our seasonal games have become player favorites, and Werewolf It Up! is a perfect addition to our portfolio of holiday-themed titles. Meanwhile, Zeus Legends of Olympus raises the bar with our brand-new Triple Hit Combo mechanic, kicking off a powerful new series of ancient Greek god–themed content. We’re confident both titles will engage players worldwide and deliver outstanding performance at launch and well into the future.”

The post INSPIRED EXPANDS ITS iGAMING PORTFOLIO WITH A DUO OF NEW SLOTS: WEREWOLF IT UP! & ZEUS LEGENDS OF OLYMPUS appeared first on European Gaming Industry News.

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Northern Lights Gaming promotes Chris Loftus to Chief Executive Officer

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Northern Lights Gaming, the award-winning studio known for blockbuster slot titles such as Unusual Suspects and Bison Moon, has promoted Chris Loftus to CEO.

The promotion comes after Andrew Goodale chose to step away from the studio after more than eight years at the helm to pursue other opportunities.

Chris is a seasoned online slot studio executive with more than 17 years of industry experience and joined Northern Lights Gaming back in April 2025 as Commercial Director.

His career began at Inspired Entertainment, where he spent a decade as Head of Content Operations before moving on to 1X2 Network, where he served as Commercial Director for the leading studio and aggregation platform.

This was followed by a stint as Sales Director at fast-growing game studio Playnetic, where he further expanded his expertise in commercial strategy and business development, before joining the Northern Lights Gaming team.

As CEO of Northern Lights Gaming, Chris brings seasoned insight and an energetic approach to the studio, which has both a strong legacy and ambitious plans for the future.

Robert Henrysson, Chairman at Northern Lights Gaming, said: “We are thrilled to promote Chris to the position of CEO and for him to lead Northern Lights Gaming into the next chapter of its success story.

“Of course, we’d like to thank Andrew for his many years of service and for helping to drive Northern Lights Gaming forward with passion and purpose and wish him well for the future.

“Change always brings adjustments, but our direction and mission remain the same – and that’s to create the very best games and experience in the industry.

“And with Chris leading our incredible team and with a strong product roadmap in front of us, we are highly confident of doing just that.”

Chris Loftus, CEO of Northern Lights Gaming, added: “It’s an honour to have been promoted to CEO of Northern Lights Gaming and to have the trust of the team to steer the ship and continue to build on the incredible progress we have already made.

“The key to success for any studio is to create great games that hit the mark with players, and we have the team and process in place to keep adding epic titles to our portfolio.

“Our product roadmap is packed with truly exceptional games, and we can’t wait to see them leave our production line and for players to fire up the reels.”

The post Northern Lights Gaming promotes Chris Loftus to Chief Executive Officer appeared first on European Gaming Industry News.

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