Asia
Grant Bowie Quits as MGM China CEO
Grant Bowie has submitted his resignation as Chief Executive Officer MGM China. He will leave his position on May 31, 2020.
According to MGM China, Bowie is not extending his contract and opting for personal retirement plans.
Bowie will continue as an advisor of the company until December 31, 2022.
‘Mr. Bowie has confirmed that he has no disagreement with the Board and there are no other matters in relation to his retirement as the Chief Executive Officer of the Company which need to be brought to the attention of the shareholders of the Company,’ the filing indicated.
‘Mr. Bowie expressed his gratitude to the Board, particularly Mr. Bill Hornbuckle and Ms. Pansy Ho, the Company and MGM Resorts for this opportunity and their support over the years.’
Net revenue generated by MGM China has dropped 63 per cent year-on-year in the first quarter of this year, reaching about US$272 million (MOP2.1 billion), the company’s latest financial report indicated.
Asia
Revenant XSpark Partners With iQOO In Landmark Esports Deal
Revenant XSpark, one of India’s leading Esports organization is excited to announce a ground-breaking partnership with iQOO, the high-performance smartphone brand. Leveraging the growing appeal of Esports, Revenant XSparks & iQOO have partnered together, with iQOO securing the naming rights for India’s top-performing Battlegrounds Mobile India (BGMI) roster under the Revenant XSpark brand. The team will now compete under the name iQOO RNTX, marking a significant milestone in the evolution of Indian esports. This collaboration stands as one of the biggest deals in Indian Esports history.
A collaboration between Revenant Esports and Team XSpark; The vision & goal behind the creation of ‘Revenant XSpark’ was to redefine the Esports landscape in India and neighbouring regions.
Having been unveiled at the recent collaboration, Revenant XSpark’s (BGMI) roster competes across regional and international competitions. With an unmatched track record of securing two back-to-back titles at major Krafton events, the team is led by coach Osmium as one of the premier teams in the country. Dominating competition across the board, the team of Sarang (Sarangajyoti Deka), Spraygod (Harsh Malik), Joker (Khush Singh), and Shadow (Tenzin Kelsang), have been able to carve a name for themselves in the Esports landscape as a force to be reckoned with in both global and local platforms.
Champions at the BGMI Pro Series and BGMI India Series, the team already has a firm foothold in the India market and is aiming to build and expand its narrative globally. Alongside iQOO’s innovation driven mindset, the collaboration will leverage expertise from both sides for mutual beneficial outcomes.
Rohit Jagasia, Founder and CEO of Revenant Esports, said, “We’re incredibly proud to announce our groundbreaking partnership with iQOO. This is a monumental moment for Indian Esports – marking one of the largest deals in the industry. iQOO’s commitment to innovation aligns perfectly with our vision at Revenant XSpark. By joining forces, we’re creating a powerful synergy that will elevate the Indian Esports scene to new heights. Together, we aim to redefine the landscape of competitive gaming and inspire the next generation of gamers.”
Nipun Marya, CEO, iQOO said, “We’re thrilled to be part of this moment in Indian esports. Partnering with Revenant XSpark goes beyond supporting an exceptional team it’s an investment in the future of competitive gaming. Together, we aim to inspire the next generation of gamers, drive meaningful innovation, and shape the future of esports in India. This collaboration is a step towards achieving long-term synergies that align with our broader vision to elevate the gaming experience.”
Asia
8Bit Creatives secures biggest ever esports Naming Rights deal in India with iQOO
8Bit Creatives, India’s premier esports & gaming talent management agency, has secured a major mandate in the largest naming rights sponsorship deal in Indian gaming history with iQOO, a leading performance smartphone brand. 8Bit Creatives bagged three out of the five naming rights deals, further cementing its leadership in the esports ecosystem.
The three teams represented by 8Bit Creatives are:
- 8bit Esports
- Reckoning Esports
- Revenant Xspark
This historic partnership further cements iQOO’s commitment to the esports ecosystem in India, building on its ongoing association with Team iQOO Soul, which has been a flagship collaboration with 8Bit Creatives for over a year.
Speaking about the partnership, Animesh Agarwal, Founder and CEO of 8Bit Creatives, said:
“We are incredibly grateful to iQOO for placing their trust in us to represent three of their five teams, and we are happy to support their gaming & esports initiatives. This is a moment of great pride for Indian gaming, and we are excited to see iQOO’s continued contribution to growing the esports landscape in India.”
Sarang Naicker, Owner of Reckoning Esports, commented:
“Partnering with 8Bit Creatives has always been a key driver of Reckoning Esports’ growth. This historic association with iQOO reflects the strength of our collaboration and our shared vision to elevate the esports ecosystem in India. Together, we aim to continue setting new benchmarks for gaming excellence.”
Rohit Jagasia, team owner of Revenant Xspark, added:
“Our partnership with 8Bit Creatives has always been focused on driving innovation and creating meaningful opportunities for our players and fans. This association with iQOO is a testament to that vision, and we are thrilled to continue our journey together to elevate esports in India.”
With this deal, iQOO continues redefining the boundaries of brand integration within esports, ensuring that fans and players benefit from an elevated experience. By associating its high-performance brand with some of India’s leading esports teams, iQOO reinforces its position as a key driver of the country’s gaming revolution.
The naming rights deal is not just a commercial success but also a testament to the thriving Indian esports ecosystem, as brands increasingly recognize the value of invest ing in gaming’s vibrant community.
Asia
Nazara announces five investments totalling INR 196 Crores to drive growth across Gaming and Entertainment
Nazara Technologies Limited (BSE: 543280 | NSE: NAZARA), India’s only listed diversified gaming and sports media company, has unveiled a series of strategic investments aimed at solidifying its position in the gaming and entertainment ecosystems.
Nazara has announced new Investments in Funky Monkeys & Learntube.ai
Nazara has expanded into physical entertainment with the acquisition of a 60% stake in Funky Monkeys Play Centers Private Limited, a leader in indoor soft play centers for children, for INR 43.7 crores. Funky Monkeys operates 11 centers across India, offering interactive play experiences for children.
Co-founders of Funky Monkeys, Binita Putcha and Sanjay Ghadiali, said: “We are excited to join hands with Nazara, whose vision for digital and hybrid entertainment aligns closely with ours. With Nazara’s expertise and resources, we are confident we can scale Funky Monkeys and bring even more joy to children and families across India. We also see synergies with digital IP’s owned by Nazara such as Kiddopia and will work to maximise these opportunities”
Nazara will also invest INR 4.2 crores for a 4.7% stake in Learntube.ai, an AI-powered platform revolutionizing education with 1:1 interactive and gamified learning. Catering to over 20 lakh learners, LearnTube is the world largest personalised learning platform that offers affordable, interactive gamified learning experiences for professional skilling.
“LearnTube’s collaboration with Nazara is a bold step forward in reshaping professional learning and interactive media. We are excited to combine forces to lead innovation on a global scale,” said Shronit Ladhani, Co-founder, LearnTube.
Nazara has Increased its shareholding of existing companies
Nazara will invest INR 148 crores in its existing subsidiaries including Sportskeeda, Nodwin Gaming, and Datawrkz to increase its ownership in them and support their growth.
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Nodwin Gaming: Nazara will invest INR 64 crores through subscription of Optionally Convertible Preference Shares to bolster Nodwin’s growth. The funds will support Nodwins expansion, enhance its intellectual properties (IPs), and strengthen its footprint in emerging markets.
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Absolute Sports (Sportskeeda): Nazara will invest INR 69 crores to purchase shares arising from exercise of ESOPs from the Sportskeeda management to increase its stake to 100% in the company making it a wholly owned subsidiary.
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Datawrkz: Nazara granted in-principle approval for an investment of INR 15 crores in Datawrkz through the subscription of Compulsorily Convertible Cumulative Preference Shares to support ongoing growth of Datawrkz
Speaking on these investments, Nitish Mittersain said: “Nazara is committed to building the largest diversified gaming and entertainment platform out of India and many of our initiatives announced today are geared towards propelling profitable growth in these strategic areas of our interest.”
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