Asia
John DeCree Forecasts Delta Corp’s Online Gaming Revenue Will Reach US$30.5M in 2022
According to Union Gaming analyst John DeCree, the value of Indian gaming leader Delta Corp’s online gaming business could exceed the current market cap of the entire company within the next two years.
In a note following the publication of Delta Corp’s Q2 2020 financial results, DeCree forecast revenue in the company’s online segment to reach US$30.5 million in sales in FY22, which based on valuations of between 10x and 15x of sales for US online gaming businesses would imply a valuation of US$305 million to US$458 million.
“This would suggest the online gaming business is worth more than the current market cap of the entire company today,” DeCree said.
His comments come as Delta Corp revealed it would have recorded positive EBITDA in Q2 2020 but for an US$3.1 million casino license fee, despite recording zero casino revenue for the quarter due to the COVID-19 shutdown.
Group-wide revenue declined 68.5% for the quarter to US$8.1 million, of which Rs 57.07 crore came from online skill gaming operations, representing a 60% year-on-year increase for the segment.
Delta Corp’s online gaming assets include online poker site Adda52.com, online rummy site Adda52rummy.com and online fantasy sports site LeagueAdda.com.
“Similar to trends seen in the US and around the globe, Indian consumers have flocked to digital and online entertainment channels during the lockdown,” DeCree said.
“The online gaming segment is already a high-growth business for Delta Corp but the lockdown has accelerated consumer acceptance and customer acquisition. This segment has long been an undervalued and underappreciated component of the company’s business and growth profile that can no longer be ignored,” DeCree added.
Asia
OMEN VALORANT Challengers South Asia 2024: Split 1 – Cup 2 Grand Finals To Be Hosted In Vegas Mall Dwarka In Delhi
Leading gaming and esports media company NODWIN Gaming and renowned video game publisher Riot Games has announced that the upcoming OMEN VALORANT Challengers South Asia 2024: Split 1 – Cup 2 LAN Finals will be hosted in Delhi. This announcement follows the successful conclusion of Cup 1 in Pune.
The decision to host the finals in Delhi is part of a strategic effort to expose a broad audience to high-stakes esports competition, capitalizing on the region’s rising enthusiasm for esports. The inaugural Cup of the OMEN VALORANT Challengers South Asia 2024: Split 1 successfully captured significant attention, drawing an impressive crowd of over 25,000 attendees who watched the champions being crowned at the venue. The event also enjoyed robust online engagement, accumulating more than 700,000 views and more than 100,000 hours of gameplay streamed across various digital platforms. OMEN by HP served as the tournament’s title partner and Philips as the styling partner.
OMEN VALORANT Challengers South Asia 2024: Split 1 – Cup 2 Finals will be held on 18th and 19th May, featuring the top 4 teams, True Rippers, Revenant Esports, MLT Esports and GrayFox Esports battling it on LAN in Vegas Mall, Dwarka in Delhi. The event will be live streamed on NODWIN Gaming’s YouTube channel. Like Cup 1, the grand finals will be a LAN event aimed at providing a thrilling esports experience to the attendees.
Akshat Rathee, Co-Founder and Managing Director of NODWIN Gaming, commented on the choice of Delhi, “The successful completion of the Split 1 is a testament to the growing popularity of esports in the region. We are excited to host Cup 2 Grand Finals in Delhi and aim to provide fans in the region a top notch esports competition where the best teams from across regions compete for the championship title. I would like to sincerely thank our partners for their continued support and for sharing our vision to elevate esports in the region.”
Sukamal Pegu, Esports Lead, India & South Asia, Riot Games, said “The OMEN VCSA is an important platform for us to identify top VALORANT Esports talent from India and showcase them. This year we have seen the competition get more intense with international athletes such as SK Rossi playing in the circuit, giving the fans non-stop entertainment and excitement. The Delhi event will be a cracker!”
Arun Rajappa, Country Manager, India & South Asia, Riot Games, said “We are absolutely elated by the support and enthusiasm that the fans, players and teams of the region have shown to VALORANT. After an exciting Cup 1, we are thrilled to bring Cup 2 to Delhi. We are committed to the growth of esports in the region by fostering the ecosystem and providing more opportunities to fans and players alike.”
This announcement coincides with the conclusion of the VCT Game Changers South Asia Split 1, also hosted by NODWIN Gaming, where MLT Esports was victorious. This tournament is part of a broader initiative to promote inclusivity and provide competitive opportunities for women and other marginalized genders within the VALORANT community.
The Delhi grand finals promise to be a highlight for the VALORANT esports community, offering another chapter of high-level competition in the region.
For further updates and information about the VALORANT Challengers South Asia, follow NODWIN Gaming on social media:YouTube/Instagram/Twitter/Facebook
Asia
Stake.com enjoys major growth surge during IPL after adding Indian rupees
Stake has witnessed unprecedented levels of sports betting activity during the 2024 Indian Premier League (IPL).
The operator customised its global sportsbook for cricket-crazy customers this season by enabling deposits in Indian rupees (INR) for the very first time.
The Indian rupee is the latest of six fiat currencies available on the flagship Stake sportsbook, as well as 20 cryptocurrencies.
The currency integration was launched in tandem with a generous promo, which saw punters paid out as winners, even if their team went on to lose the match, as long as they managed to hit a six during the first four overs.
The only stipulation was that bets must have been placed in INR with a maximum payout of up to US$25.
This occurred during 30 of 48 selected IPL matches, or 63%, leading to handsome rewards for punters who took advantage of the offer.
The bets would have been settled as losses on any other platform, but instead resulted in an extra US$30m of winnings for Stake customers.
The promotion also served as a savvy customer acquisition strategy. More than 80% of users to have redeemed the offer were new to Stake as first time depositors.
“We are constantly striving to improve our product and want to make Stake easily accessible to as many players as possible,” said Stake’s director of commercial Jarrod Febbraio.
“With more than US$100m wagered this season alone, the IPL is soaring in popularity, and so is Stake.
“We wanted to spice things up for the 2024 season, and this promotion was perfect for our customers who don’t like cricket, they love it,” he added.
The IPL is the most popular cricket league in the world. The current season ends on Sunday 26 May.
Asia
BETBY Press Release for Publication
Betby, a premium sportsbook supplier, will be restoring its busy routine of travelling to international expos with its team of experts attending SiGMA Asia, in Manila, on June 3-5.
Considered as one of the biggest igaming gatherings in the Asian part of the world, Betby will be showcasing its premium sportsbook solution and products, including its proprietary Betby Games esports feed, and AI-based sportsbook tools under the umbrella of “AI Labs”.
Kirill Nekrasov, Head of Betby Games, will also be joining a panel of leading experts discussing in detail the growth of the eSports market. Together with his peers Nekrasov will also be discussing the inclusion of eSports in major sporting events, how it aids the diversification of revenue streams for operators and the potential implications for gambling sectors.
Betby will be showcasing its products alongside its ground-breaking solution for the Asian continent on June 3-5 welcoming all visitors at Stand B804.
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