Asia
Nazara makes an investment of INR 982 Crores
Nazara Technologies Limited (BSE: 543280, NSE: NAZARA), India’s leading publicly listed diversified gaming and sports media company, has announced the acquisition of a 47.7% stake in Moonshine Technology Private Limited (“MTPL” or “Moonshine”), the parent company of PokerBaazi, India’s top online poker gaming platform, for INR 832 crores through a secondary transaction. Additionally, Nazara will inject INR 150 crores in primary capital into Moonshine via compulsory convertible preference shares.
PokerBaazi is India’s largest online poker platform, driving over 85% of Moonshine’s net revenue, while its fantasy sports platform, SportsBaazi, contributes 12%. PokerBaazi had ~340,000 monthly active users as of May 2024. The company’s success is attributed to its dynamic and forward-thinking leadership team, led by Founder & CEO Navkiran Singh and Co-Founders Puneet Singh, Varun Ganjoo, Avneet Rana, and Anirudh Chaudhry, whose combined efforts are driving the transformation of India’s poker ecosystem.
Commenting on the development, Nitish Mittersain, CEO of Nazara Technologies, said: “This investment in Moonshine Technology represents a significant step in our journey to strengthen Nazara’s position as India’s dominant diversified gaming platform. PokerBaazi has not only emerged as the undisputed leader in online poker gaming in India but has also set new standards in user engagement, innovation, and overall experience. We’re excited to join forces with Navkiran, Puneet, and the entire Moonshine team, whose vision and leadership have been instrumental in shaping the poker landscape in India. Together, we look forward to driving growth in this space and taking Indian gaming to new heights, both domestically and globally.”
Navkiran Singh, CEO & Founder, Baazi Games (MTPL) also shared his views, “As the Indian gaming sector continues to grow, we firmly believe that partnering with Nazara Technologies is the right step toward advancing the nation’s gaming ecosystem. This partnership will also contribute to our aim for global expansion in the gaming space. With the Hon’ble Prime Minister’s recognition of the gaming sector’s role in shaping India’s $1 trillion digital economy, we are confident that our combined efforts will foster innovation, create new jobs, and further India’s place in the global digital economy.”
Asia
Malaysia’s PAS Vows to Shut Genting Casino if Party Wins in Pahang State
An Islamic party said it was prepared to shut down Malaysia’s only casino if it wins control of the state where it is located, as the group looks to build its influence in the Southeast Asian nation.
A senior official from Parti Islam Se-Malaysia said if voters in central Pahang state – home to Genting Bhd.’s casino – wanted gambling to end, they should choose the Islamic party. The party is tapping into concerns by the country’s Muslim majority over gambling, which is forbidden in the Koran.
PAS has been growing its influence since the 2022 elections made it the biggest party in federal parliament. It already controls four of Malaysia’s 13 states and is looking to capture Pahang in the next national election that must be held by early 2028.
“Gambling is harmful, so we have to close it. But it must be in accordance with the laws and constitution,” Andansura Rabu, PAS’ deputy commissioner for Pahang, said at the party’s annual gathering.
The federal government decides on casino and gaming permits in Malaysia and gaming is one of the most regulated sectors in the country.
Genting’s casino contributed as much as US$1.16 billion annually to government coffers before the pandemic, according to a report by UOB Kay Hian, a Singapore-based brokerage. When PAS emerged as the biggest party after the 2022 elections, Genting shares slid but recovered as Anwar formed a unity government made up of liberals, a Chinese-dominant party and regional groups.
Still, the growing influence of the Islamic party in national politics has pushed Anwar to turn more conservative to burnish his credentials with voters. Last year his government cancelled a concert after two members of a British band The 1975 shared a same-sex kiss on stage, and banned Swatch watches that showcase Pride colours.
At the annual gathering held last weekend in Pahang, PAS has ruled out working with Anwar’s coalition and pledged to champion Islamic issues. Banning alcohol and gambling in Malaysia would be key, the party has said.
“Anything that can harm society, we must together support its destruction. This isn’t a matter of religion, it’s a social issue,” Andasura said.
Asia
Skyesports-backed AA Gaming unveils AA Play: India’s All-in-One Gaming Application
AA Gaming, a leading esports solutions and production company, has announced the launch of AA Play, an innovative gaming and esports platform.. Designed to meet the growing needs of gamers across the country, AA Play will offer gamers with communities to participate in, esports tournaments, digital commerce, and more – all in one place.
AA Play has been designed from the ground up by a team of veterans in the Indian gaming and esports industry by analyzing the needs of hardcore and mid-core skill-based gamers. With its unique features, it promises to redefine how players interact with games, fellow gamers, and the larger ecosystem in India. At its launch, the application will support tournaments and communities with a digital marketplace set to arrive later.
The app’s key features include:
- Tournaments: Gamers will be able to participate in exciting, skill-based competitions for free with the chance to win big. Currently, Indian gamers struggle to find tournaments to hone their skills, but AA Play will solve this problem by constantly having esports competitions for aspiring esports athletes to go pro across a plethora of titles.
- E-commerce: The app will also include a dedicated marketplace for players to purchase gaming merchandise. With the inclusion of a secure and user-friendly digital wallet, gamers will be able to purchase in-game items for their favorite titles, ensuring a seamless gaming experience from start to finish.
- Community Building: One of the standout features of AA Play is its ability to foster connections among players. Gamers can form or join communities, enabling them to interact with like-minded individuals, organize meetups, and enhance their gaming journey through collaboration and shared experiences.
Akash Dhangar, Founder and CEO of AA Gaming, expressed his excitement about the platform’s potential. “With AA Play, we are gearing up to revolutionize the gaming experience, bringing everything a gamer needs—competing, connecting, and shopping—into one exciting platform! As India’s gaming industry explodes, we’re thrilled to be at the forefront, offering a one-stop solution that puts the power in players’ hands. In the past, we focused on third-party and white-label B2B services, but this app marks a bold turning point. We’re making a giant leap towards a direct-to-consumer model, opening up incredible opportunities for innovation and new revenue streams. This is our vision for a super app that unites all things gaming in one place.”
India’s video game industry is one of the fastest-growing in the world, projected to reach a value of $1.4 billion by 2028, with a compound annual growth rate (CAGR) of 11.1%, according to Niko Partners. By that time, India is also expected to surpass China in the number of gamers, adding 277 million new players for a total of 730.7 million. With this rapid expansion, the launch of AA Play comes at a pivotal moment to engage both new and returning gamers.
Asia
Chinese Football Bans 43 for Life Over Gambling and Match-Fixing Scandal
Chinese football authorities have banned 43 individuals for life due to their involvement in gambling and match-fixing scandals. The list includes three former China international footballers and South Korean World Cup player Son Jun-ho.
China’s extensive football corruption crackdown campaign has been ongoing since 2022. The National Sports General Administration and the Ministry of Public Security have led efforts to address issues of match-fixing and gambling in the sport. They have investigated over 120 matches, involving 83 players, referees, coaches and club officials. To date, 44 individuals have been sentenced, with 34 receiving prison terms.
The recent announcement of these lifetime bans came shortly after the national team’s 7-0 loss to Japan.
Son Jun-ho, who played for Shandong Taishan in the Chinese Super League and represented South Korea in the 2022 World Cup, has been accused of participating in match-fixing and accepting bribes. Son returned to South Korea in March 2024 after being detained in China since May 2023. The authorities initially stated that he was held “on suspicion of accepting bribes by non-state employees” but did not provide further details.
Other notable figures banned include Jin Jingdao, a former Shandong Taishan player, and Chinese international players Guo Tianyu and Gu Chao.
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