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Promoters stake sale of Nazara Technologies Limited to existing investor, Plutus Wealth Management LLP
Mitter Infotech LLP, a promoter of Nazara Technologies Limited (“the Company”), has sold 48,84,000 equity shares, representing 6.38% of the issued share capital to Plutus Wealth Management LLP through an on-market transaction in the block deal window of the stock exchange (“Block Trade”) on May 27, 2024.
The Block Trade will provide liquidity for the promoters who have dedicated 25 years to the Company’s growth. The promoters will retain control of the Company, with Nitish Mittersain continuing in his current role as CEO & Jt. Managing Director. The promoters remain confident that the Company is strategically and financially well positioned to capitalize on the numerous opportunities ahead.
Plutus Wealth Management LLP, an investor in Nazara since 2020 (pre-IPO), has demonstrated strong confidence in the Company’s prospects by increasing its shareholding via this Block Trade.
“Plutus Wealth Management LLP has been a long term investor in Nazara since the pre-ipo days and has actively participated in subsequent fund raises as well”, said Vikash Mittersain, Promoter, Nazara Technologies Limited. “This transaction represents a resounding vote of confidence by Plutus in Nazara’s long-term growth prospects, its promoters and management”, he added.
Mr. Arpit Khandelwal, Managing Partner of Plutus Wealth Management LLP, said, “We are extremely delighted to announce that we have increased our stake in Nazara Technologies Limited, India’s leading diversified gaming and sports media platform. This decision underscores our strong conviction in the phenomenal growth opportunity that the sector offers and our confidence in Nazara’s diversified product portfolio, talented team, and unique competitive position. With its expanded presence in various international markets and global partnerships, Nazara is a notable example of an Indian games company that has been successful in going global. In continuation to our philosophy, we look forward to actively supporting the management team as they execute on their growth strategy and aggressively accelerate progress towards achieving their long-term objectives”.
The post Promoters stake sale of Nazara Technologies Limited to existing investor, Plutus Wealth Management LLP appeared first on European Gaming Industry News.
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Ixia launches $20 million global gaming venture Fund and Studio
Ixia Capital, a venture capital fund and studio, has launched with an investment of $20 million focused on high-growth companies across gaming, esports, digital assets, and complementary technologies.
The fund has been founded by partners with deep firsthand iGaming industry experience, enabling entrepreneurs to realise innovative ideas, technologies, and transform business models into profitable companies.
Ixia Capital is a global fund with a focus in India, Africa and UAE where the mission is to accelerate development and manage risks to help ventures succeed in specialised fields. The fund is based in the Cayman Islands, while the Ixia Studio is headquartered in the USA.
Ixia Capital CEO and Venture Partner Mona Motwani, said: “It’s a proud moment for us to officially launch Ixia Capital. Our mission is partnering with driven entrepreneurs to equip them with resources, expertise, exposure and capital that allow them to build the best ideas into great companies. Through this hands-on approach, Ixia is all about accelerating ideas and mitigating risks.”
Ixia Studio, the venture studio arm of Ixia Capital, is in the process of launching six disruptive projects – FasFas Games, a Sports NFT Trading Exchange, a Gaming Loyalty Reward Platform, Sports Investment Thought Leadership Platform, and a Sports Coverage and Games Engagement App. The role of the Studio is to provide funding, resources, and operational support to help entrepreneurs build and scale companies.
The post Ixia launches $20 million global gaming venture Fund and Studio appeared first on European Gaming Industry News.
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SPOTLIGHT SPORTS GROUP AGREES NEW DEAL WITH HONG KONG JOCKEY CLUB
Spotlight Sports Group (SSG), a world-leading technology, content, and media company specialising in sports betting, has signed a deal to extend a multi-year agreement with the Hong Kong Jockey Club (HKJC).
The long-term partnership, powered by the Racing Post, will promote Hong Kong racing to a worldwide audience through the provision of full racecards for the Hong Kong Jockey Club meetings at Sha Tin and Happy Valley, editorial and tipping content. The partnership will also enable free-to-view live streams and replays of all Hong Kong racing via Racing Post digital platforms.
The collaboration also sees the promotion of the HKJC’s World Pool initiative, specifically with editorial, tipping and signposting of World Pool meetings. Spotlight Sports Group is delighted to have this agreement in place before Royal Ascot, a meeting that not only features high-class horse racing, but five days of World Pool betting.
James Fitzpatrick, Account Director for B2B Content Services at Spotlight Sports Group, said: “The Hong Kong Jockey Club is one of our key partners and I’m delighted we will be continuing our relationship. Extending this deal ahead of Royal Ascot will allow us to continue to promote World Pool days to a global audience during one of the biggest international meetings of the year.”
The view was shared by Michael Fitzsimons, Executive Director, Wagering Products of the HKJC: “The HKJC and Racing Post are two of the most powerful and respected brands in the horse racing industry and we can see many great opportunities to work together to achieve our goals and longer-term vision throughout the life of the agreement.”
Spotlight Sports Group aims to support the global betting, horse racing and fantasy sports industries.
The post SPOTLIGHT SPORTS GROUP AGREES NEW DEAL WITH HONG KONG JOCKEY CLUB appeared first on European Gaming Industry News.
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EGT’s Gods & Kings Link with first installation in Bulgaria
EGT’s jackpot Gods & Kings Link made its debut in Bulgaria. The first local gaming establishment to install the product is the largest casino in the country GoldenEye, located in Svilengrad.
“We are very happy to once again have the opportunity to support our partners from GoldenEye by providing them with one of the latest developments from our slot portfolio,” commented Biserka Draganova, Sales Manager for the Balkans and Egypt at EGT. “The fact that out of a total of 500 machines in the casino, 320 are EGT’s is a testament to the great confidence they have in us, and I believe that Gods & Kings Link will show the excellent results expected from it.”
The product is currently available on several cabinets of the G 50 J2 St model, and will be installed on more by the end of June. Gods & Kings Link has 4 levels of jackpot: Minor and Mini, that are fixed for each machine and Grand and Major, which are progressive and can be won with every bet made on any of the 4 games Rise of Ra, Olympus Glory, Ape of luck and Glorious Alexander. The Grand and Major levels are common with EGT’s bestseller jackpot Bell Link, thus creating even greater chances for wealth.
“Gods & Kings Link has definitely caught the attention of our customers and in the short period of time we’ve been offering it, we’ve seen a lot of interest in it,” said Mert Caliskan, Casino Operation Director. “The titles in the mix are extremely interesting and provide lots of bonuses and fun during play. This in combination with the possibility of getting even bigger winnings thanks to the connection to Bell Link, which is very popular in our casino, is a guarantee that this will be another very successful EGT product.”
The post EGT’s Gods & Kings Link with first installation in Bulgaria appeared first on European Gaming Industry News.
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