Asia

IPO bound Yudiz Solutions Ltd. to make acquisitions and expansions of approx. 12.3cr in India and Internationally

Published

3 months ago

July 17, 2023

Reading Time: 2 minutes

A fortnight prior to its IPO, a blockchain, AI and gaming focussed enterprise solutions technology company, is looking to strengthen its core offerings by looking at acquisitions across India, USA, Canada and Europe.

The company will be spending Rs.12.31 crore from the total proceedings aggregating for acquisitions and expansion.

Bharat Patel, Chairman and Director, said, “We are now looking to have its own game studio, Yudiz Solutions is looking to acquire exceptional teams and companies that have complimentary solutions and skill sets to ours. This will provide us with the necessary resources to drive innovation, expand our game portfolio, elevate the gaming experience and develop gamer communities.”

He further added, Yudiz is now looking for companies that are well known for their work in Animation, VFX, and 3D modelling and a company which is having good hands-on experience in Blockchain & AI product development.

The aim of the acquisitions is to eliminate any intermediaries for them and as a result increase their margins, leading the company to gain direct access to their customers. Yudiz Solutions, which is already known to develop apps, will now be the first game developers to be publicly listed and have its own publishing platform.

The new Yudiz game studio will focus on creating high-quality games for multiple platforms. These games will leverage Yudiz’s cutting edge technology solutions and in-house expertise to design and develop the games. They will also develop games for other publishers and will also allow other developers to publish games on their new publishing platform. This will make it the first gaming company to develop and publish their and other games as well.

Patel further added, Yudiz has already established itself as a strong player in app development, and already has a pipeline of several large clients across the US and Canada. “These acquisitions will help us further in the international market, and will strengthen our position as an overall solution and game studio,” said Patel.

The IPO will make Yudiz, the first company in the blockchain, AI and gaming space to publicly enlist and also the next gaming company in the country after Nazara Technologies Ltd.

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Asia

PAGCOR Licensees Give PHP60-M for New VMMC Wing

Published

6 days ago

September 26, 2023

Niji Narayan

Reading Time: 2 minutes

The Veterans Memorial Medical Center will soon have more patient rooms with the start of construction for the Magiting Veterans Wing on Friday, September 22, through a Php60 million grant from two licensees of the Philippine Amusement and Gaming Corporation.

The Magiting Veterans Wing is a project initiated by the Philippine Military Academy Magiting Class of 1970 with funding support from Bloomberry Cultural Foundation Inc. (BCFI) and Newport World Resorts Foundation, Inc. (NWRFI), among others.

The two foundations, representing Solaire Resort and Newport World Resorts, respectively, each released Php30 million with PAGCOR’s approval.

The project will be carried out in two phases. The first will be sponsored by BCFI and covers civil, structural, mechanical, electrical, masonry works and roof deck waterproofing while the second phase will be funded by NWRFI and consists of works, fixtures and devices.

The Magiting Wing will have a total floor area of 1379.84 square meters and will house 12 new private rooms inclusive of four suites, a nurse station, lounge area, hallway, storage, access ramp and connecting bridge to the main hospital building.

PAGCOR Chairman and CEO Alejandro H. Tengco said the agency approved the grant from the casino foundations because of the project’s noble objective.

“PAGCOR recognizes the patriotism and sacrifice of Filipino veterans who dedicated their youth, vigor, strength and even lives for our country. By supporting this noble project, we show our gratitude to our modern-day heroes and their families,” he said.

Tengco said all integrated resort casino licensees in the country are required to put up a foundation to fund Corporate Social Responsibility programs on education infrastructure, health facilities, environmental preservation and cultural heritage restoration.

Two percent of the licensees’ gross gaming revenues from non-junket tables automatically go to such foundations.

Defense Secretary Gilberto C. Teodoro, who graced the ceremonial concrete pouring for the project, expressed gratitude to the project supporters.

“As donee, we will provide the necessary maintenance and other operating expenditures to see to it that your donations will not go to waste,” he said.

Teodoro said other plans to improve the welfare of Filipino veterans include decentralising the VMMC’s services and the upskilling of hospital personnel so that doctors and specialists can focus more on caring for patients.

“No soldier ever retires. They are always a part of the system. They provide guidance and support to our active personnel hence their job as a soldier is never done,” he said.

Aside from BCFI and NWRFI, other major sponsors of the Magiting Veterans Wing project are DMCI, San Miguel Corporation and some retired military personnel.

Asia

Dubai Racing Club Opts for TPD’s Horse Tracking Solution

Published

2 weeks ago

September 21, 2023

Hunor Pal

Reading Time: < 1 minutes

Total Performance Data, the world’s leading horse racing live data provider, has announced today that Dubai Racing Club is a new client.

Following successful live trials at last Spring’s Super Saturday and Dubai World Cup meetings, Dubai Racing Club has signed a multi-year deal to use TPD’s services beginning with the new season at Meydan Racecourse on Friday 10 November. This extends TPD’s content footprint in the fast-growing Middle Eastern horseracing scene where both of Saudi Arabia’s racecourses are already live.

TPD will produce live and post-race timing stats for every horse as well as live running order graphics for the world’s biggest set of on course screens, including the new 4k big screen.

Will Duff Gordon, CEO of TPD, commented: “We are very excited to be further enriching the wonderful racing that takes place at Meydan and look forward to a successful partnership. I’d like to thank our engineering partners at Gmax for so rapidly delivering the live service back in March.”

Mohammed Riaz, Head of IT for Dubai Racing Club, said: “When Trakus ceased trading we were impressed with the speed of set up and quality of output when Gmax and TPD met our needs for the climax of last season. We are excited to use this content on our new 4k big screen as well as for our international audience.”

The new season at Meydan Racecourse begins on Friday, November 10^th and concludes with the $30.5million Dubai World Cup meeting on Saturday, March 30^th.

Asia

Niko Partners ‘India Games Market’ Report – India retains title as Asia’s fastest-growing video games market in 2023

Published

2 weeks ago

September 21, 2023

Hunor Pal

Reading Time: < 1 minutes

The recently published “India Games Market Report 2023” report by Niko Partners, states that India retained its title as the fastest-growing video games market in Asia. The total gamers in India are forecasted to have surged a remarkable 343% in the 10 years between 2017 and 2027, climbing to 641.2 million in 2027.

Video games revenue is also on the rise, forecast to increase 21% YoY in 2023 to $868 million. Factors such as higher disposable income, the growth of internet connectivity, and low-cost smartphones are propelling India’s video games market forward.

Below are the key findings of the report:

Meteoric rise in revenue: Niko Partners projects India video games revenue across all platforms to reach $868 million in 2023, up 21.2% YoY. India’s video game market is the fastest growing by gamers and revenue, which is forecast to reach $1.6 billion by 2027, growing at a 5-year CAGR of 17.2%. The report excludes revenue generated from Real Money Games.

Player base keeps on expanding: The number of gamers in India across all platforms is forecast to reach 444 million in 2023, up 12.1% YoY, and reach 641.2 million in 2027, growing at a 5-year CAGR of 10.1%.

Dominance of mobile gaming: India is a mobile-first market with 96.8% of total gamers playing on a smartphone or tablet.

Game-spending is on an upward trajectory: 31% of the 444.4 million gamers will spend on video games in 2023, with annual ARPPU reaching $6.38.

Esports continues to gain momentum: 71.8% of the total gamers have engaged with Esports by either playing an Esports game, watching or participating in an Esports tournament.

Encouraging factors in terms of revenue growth and brand investment: The return of BGMI and Free Fire are positive signs for the industry and foreign game companies looking to enter the market.