Asia
Manish Agarwal and Ishank Gupta raise INR 160 cr and complete acquisition of IndiGG through a token swap
Manish Agarwal and Ishank Gupta, announced a fundraise of INR 160 cr at a valuation of INR 1200 cr for their new Web3 gaming venture, Kratos Studios. The seed round was led by Accel, with participation from investors including Prosus Ventures, Courtside Ventures, Nexus Venture Partners, Nazara & others.
Kratos Studios has completed the acquisition of IndiGG through a token swap. As co-founders, Manish and Ishank are building the world’s largest Web3 gaming Decentralised Autonomous Organization (DAO) under the IndiGG brand. The funding will help them build distribution rails in emerging markets for global Web3 games. Additionally, the DAO will also invest in the most promising Web3 games across the world. Manish and Ishank will continue to work closely with Polygon’s co-founder Sandeep Nailwal and Yield Guild Games (YGG)’s co-founder Gabby Dizon towards the mission of building the largest gaming DAO in the world.
Nazara Technologies, where Manish was formerly the CEO, has also invested in this round with an intent to collaborate with IndiGG on the web3 front.
Commenting on this development, Manish Agarwal said, “We are providing the 500M+ South Asian gamers an opportunity to leverage their time and skill to become creators of digital goods on the blockchain for global games. This will enable South Asia to transform into a digital goods’ factory for the gaming world.”
Ishank Gupta said, “The IndiGG stack will partner with existing gaming micro-communities in South Asia, both on-ground and online, as sub-DAOs in the IndiGG ecosystem. These micro-communities will facilitate explosive community growth for global Web3 games.”
Subrata Mitra, Partner at Accel added, “Blockchain can fundamentally transform gaming and accelerate the growth in emerging markets. We believe that this team is the best suited to unlock this value for Gamers. We are committed to build a vibrant gaming ecosystem alongside IndiGG.”
Following the acquisition, existing INDI token holders will be swapped to new tokens at the time of Token Generation Event for the new token. Until such time, the INDI token will continue to trade on existing exchanges.
Asia
Skyesports Championship BGMI Set for Sixth Edition Featuring INR 40 Lakhs Prize Pool, Grand Finals on May 17–18 in Bangalore
The Skyesports Championship, India’s longest-running homegrown esports IP, is returning for its sixth edition with BGMI and a prize pool of ₹40 Lakhs, culminating in an on-ground Grand Finals on May 17 and 18 in Bangalore.
Leading brands including AMD, Red Bull, GIGABYTE, and Western Digital have partnered with Skyesports for the 2025 edition, reaffirming their commitment to India’s rapidly expanding gaming ecosystem.
Commenting on the return of the IP, Shiva Nandy, Founder and CEO, Skyesports, said, “The Skyesports Championship is an IP we’ve been nurturing since 2018, growing year after year into one of India’s most recognized esports tournaments with a highly engaged youth audience. We are excited to have partners like AMD, Red Bull, GIGABYTE, and Western Digital joining us for this event, allowing us to deliver a top-notch entertainment product for fans with engaging competitive esports action featuring top-tier teams and esports athletes the country has to offer. With initiatives like the new Sky Champ Rule, this tournament is set to be a standout event on the BGMI esports calendar.”
The return of the Skyesports Championship as an on-ground BGMI event builds on the success of its 2023 edition, which recorded over 32 million digital views and attracted more than 12,000 fans to the stadium.
This momentum reflects India’s position as the fastest-growing gaming market across Asia and MENA, as reported by Niko Partners. The Indian games market is expected to surpass $1 billion in 2025, reaching $1.4 billion in revenue by 2028. Mobile gaming continues to lead, accounting for nearly 78% of all revenue. With an expected 277 million new gamers by 2028, India is also on track to overtake China in the highest total number of gamers worldwide.
As the country’s leading esports tournament organizer, Skyesports continues to drive this momentum by delivering high-impact, community-driven esports experiences at scale.
The Skyesports Championship 2025 BGMI Grand Finals will feature an exciting new format:
- Day 1 (May 17) – Sky Surge: Teams will compete across six maps, aiming to accumulate points and reach the Sky Champ point goal of 66 points.
- Day 2 (May 18) – Sky Champ Rule: Once a team reaches 66 points, they must secure a Chicken Dinner to be crowned champions. If no team achieves this within eight maps, the team with the highest points will be declared the winner.
This unique format makes every match extremely crucial, as teams are not only focused on aggressively reaching the point threshold but also on strategically targeting opponents who are close to achieving it or have crossed it already.
The Skyesports Championship BGMI event schedule is as follows:
- Upper Bracket: May 6–9 (16 teams – Top 8 advance to the Grand Finals, bottom 8 fall to the Last Chance Qualifier)
- Last Chance Qualifier: May 10–12 (16 teams – 8 each from the Upper and Lower Brackets)
- Grand Finals: May 17–18 (Top 8 teams from the LCQ join the 8 qualified from the Upper Bracket to compete for the title)
The entire tournament will be livestreamed on the official Skyesports YouTube channel. Stay tuned to the Skyesports Instagram, Twitter, and Facebook handles for more information regarding the on-ground finale.
The post Skyesports Championship BGMI Set for Sixth Edition Featuring INR 40 Lakhs Prize Pool, Grand Finals on May 17–18 in Bangalore appeared first on European Gaming Industry News.
Asia
Macau Govt Appoints Ng Wai Han as Director of DICJ

The Macau Government has appointed Ng Wai Han, who was serving as Director of the Public Administration and Civil Service Bureau (SAFP), as Director of the Macau Gaming Inspection and Coordination Bureau (DICJ).
Ng had served as head of the Public Administration Bureau since September 2023, following a three-year stint as Deputy Director.
Between 1999 and 2020, Ng rose through the ranks of the Labour Affairs Bureau (DSAL) to the position of Deputy Director.
With this appointment, the reshuffling of DICJ’s leadership team is now complete. The position of Director had remained vacant since 20 December last year, when her predecessor, Adriano Marques Ho, became Director General of the Macau Customs. Deputy Director Lio Chi Chong had been serving as Acting Director in the interim.
Lei Seak Chio, who, like Ng, previously worked at DSAL, was appointed one of DICJ’s Deputy Directors in February, replacing Peter Chui.
The post Macau Govt Appoints Ng Wai Han as Director of DICJ appeared first on European Gaming Industry News.
Aquisitions/Mergers
Nazara’s subsidiary Absolute Sports acquires TJRWrestling.net and ITRWrestling.com

Absolute Sports, a subsidiary of Nazara Technologies and the parent company of Sportskeeda.com, announced today that it has signed definitive agreements, subject to closing conditions, to acquire two IPs, TJRWrestling.net and ITRWrestling.com. These business assets will be acquired from Titan Insider Digital. These IPs add to the already dominant global position of Absolute Sports in the combat sports publishing industry.
TJRWrestling and ITRWrestling established in 2009 and 2020 respectively, have built a robust audience base within the wrestling fan community through their high-quality and in-depth combat sports news and content coverage. Together, they currently attract 1.7 million monthly active users and generate 4.6 million monthly pageviews, predominantly from North America. They generated $722K (~INR 6.1 crore) in revenue in 2024.
The transaction, valued at $1.25 million (~INR 10.5 crore), will be an all-cash asset purchase via the company’s U.S. subsidiary, Sportskeeda Inc., and is expected to close within the next 45 days.
This strategic acquisition bolsters Sportskeeda’s position in the combat sports segment and expands its presence in the U.S., home to the world’s largest pro-wrestling fanbase. The integration of these platforms will also create deeper engagement opportunities for fans and advertisers across digital formats.
Ajay Pratap Singh, CEO of Absolute Sports, commented: “ITRWrestling and TJRwrestling are two of the most respected voices in the global wrestling community. This acquisition aligns perfectly with our vision to be the leading go-to destination for wrestling content worldwide. It also reinforces Absolute Sports’ dedication to expanding its footprint in the fast-growing U.S. media market through a targeted and impactful M&A strategy.”
The post Nazara’s subsidiary Absolute Sports acquires TJRWrestling.net and ITRWrestling.com appeared first on European Gaming Industry News.
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