Asia
Promoters stake sale of Nazara Technologies Limited to existing investor, Plutus Wealth Management LLP
Mitter Infotech LLP, a promoter of Nazara Technologies Limited (“the Company”), has sold 48,84,000 equity shares, representing 6.38% of the issued share capital to Plutus Wealth Management LLP through an on-market transaction in the block deal window of the stock exchange (“Block Trade”) on May 27, 2024.
The Block Trade will provide liquidity for the promoters who have dedicated 25 years to the Company’s growth. The promoters will retain control of the Company, with Nitish Mittersain continuing in his current role as CEO & Jt. Managing Director. The promoters remain confident that the Company is strategically and financially well positioned to capitalize on the numerous opportunities ahead.
Plutus Wealth Management LLP, an investor in Nazara since 2020 (pre-IPO), has demonstrated strong confidence in the Company’s prospects by increasing its shareholding via this Block Trade.
“Plutus Wealth Management LLP has been a long term investor in Nazara since the pre-ipo days and has actively participated in subsequent fund raises as well”, said Vikash Mittersain, Promoter, Nazara Technologies Limited. “This transaction represents a resounding vote of confidence by Plutus in Nazara’s long-term growth prospects, its promoters and management”, he added.
Mr. Arpit Khandelwal, Managing Partner of Plutus Wealth Management LLP, said, “We are extremely delighted to announce that we have increased our stake in Nazara Technologies Limited, India’s leading diversified gaming and sports media platform. This decision underscores our strong conviction in the phenomenal growth opportunity that the sector offers and our confidence in Nazara’s diversified product portfolio, talented team, and unique competitive position. With its expanded presence in various international markets and global partnerships, Nazara is a notable example of an Indian games company that has been successful in going global. In continuation to our philosophy, we look forward to actively supporting the management team as they execute on their growth strategy and aggressively accelerate progress towards achieving their long-term objectives”.
The post Promoters stake sale of Nazara Technologies Limited to existing investor, Plutus Wealth Management LLP appeared first on European Gaming Industry News.
Asia
NODWIN Gaming appoints former TEC Co-Founder Ishaan Arya as Vice President of Sales & Partnerships
![nodwin-gaming-appoints-former-tec-co-founder-ishaan-arya-as-vice-president-of-sales-&-partnerships](https://gamingnewsroom.com/wp-content/uploads/2024/06/128834-nodwin-gaming-appoints-former-tec-co-founder-ishaan-arya-as-vice-president-of-sales-partnerships.jpg)
NODWIN Gaming, the leading South Asian gaming and Esports company, has appointed Esports veteran Ishaan Arya, as Vice President of Sales and Partnerships to bolster its leadership team.
With over a decade of experience, the former co-founder of The Esports Club has played a pivotal role in spearheading some of the country’s largest gaming and Esports events, including The Arena, India’s premier consumer gaming event. His guidance not only propelled The Esports Club to unprecedented heights but also facilitated its expansion beyond India into the markets of the Middle East and Southeast Asia.
In his new role at NODWIN Gaming, Ishaan will focus on enhancing the value of the company’s existing IPs, such as BGMS, DreamHack India, NODWIN India Premiership, Valorant Challengers South Asia, and Comic Con India, ensuring their sustained growth and global audience engagement. He will be working on new brand partnerships, initiatives and innovating IPs as NODWIN Gaming pushes the boundaries in the gaming, esports, and lifestyle segments.
Sharing his thoughts, Ishaan Arya, Vice-President of Sales and Partnerships at NODWIN Gaming, stated, “I am excited to join NODWIN Gaming to contribute to their massive roster of global gaming, esports, and lifestyle events. As one of the top new-age sports media organizations in the world, NODWIN Gaming’s visionary approach and global roadmap have always been top-notch. Alongside a fantastic team, I am eager to utilize my expertise in large-scale gaming events and publisher partnerships to elevate the company to new heights.”
“At NODWIN, we pride ourselves in encouraging our leaders to take ownership in various aspects of the business. As a founder himself, Ishaan not only brings a wealth of knowledge and experience but will also drive innovation and growth across key verticals of our gaming and entertainment segments,” said Akshat Rathee, Co-Founder and Managing Director of NODWIN Gaming.
Since its inception, NODWIN Gaming has cemented its position as a frontrunner in the global gaming and Esports industry. The company has been making significant strides in venturing beyond Esports, recently acquiring Comic Con India, alongside obtaining a 51% stake in the Singapore-based media company Branded.
With experience working with Comic Con India as well as industry giants like NVIDIA, Intel, LG, Lenovo, Dell, JBL & Amazon, in the past, Ishaan will be a key addition to NODWIN Gaming as they drive innovation and progress in the gaming and Esports sector.
The post NODWIN Gaming appoints former TEC Co-Founder Ishaan Arya as Vice President of Sales & Partnerships appeared first on European Gaming Industry News.
Asia
PAGCOR CHIEF: BANNING IGLs COULD CAUSE BIGGER PROBLEMS
![pagcor-chief:-banning-igls-could-cause-bigger-problems](https://gamingnewsroom.com/wp-content/uploads/2024/06/128736-pagcor-chief-banning-igls-could-cause-bigger-problems.png)
The Philippine Amusement and Gaming Corporation today said outlawing Internet Gaming Licensees or IGLs, previously called POGOs (Philippine Offshore Gaming Operators) could cause bigger problems since it would drive legitimate operators underground.
“If this happens, it would become harder for us to monitor them, and the number of illegal operators would grow and pose a bigger headache to our law enforcement authorities,” according to PAGCOR Chairman and CEO Alejandro H. Tengco.
“On top of these, the government will lose potential revenues of more than Php20 billion annually, without any guarantee that illegal activities will stop,” he said.
Mr. Tengco said it is very likely that when legitimate operators are banned, they will simply hide and vanish, bringing with them their gaming equipment like computers and machines and simply continue to operate without government monitoring and supervision.
“We have no guarantee that, once we ban the legitimate operators, they will simply close shop and return to their countries of origin where they are likely to face prosecution and jail, or worse,” he said.
“So they will just go underground here in the Philippines and continue operating,” the PAGCOR chief said. “Worse, they could join those who are engaged in illegal activities like scamming, hacking and other cybercrimes, which would cause bigger problems to us.”
“Once they are underground, we lose control over them,” Mr. Tengco said.
Despite this, the PAGCOR chief said the agency will respect whatever decision Congress will make on the issue.
“It is the prerogative of our lawmakers to outlaw IGLs, if they believe it will solve our problems.
“However, for us, the real problem are the criminal syndicates masquerading as POGOs. It is only through intensified law enforcement and the cooperation of all sectors that we would be able to address the problem of criminality,” Mr. Tengco said.
The post PAGCOR CHIEF: BANNING IGLs COULD CAUSE BIGGER PROBLEMS appeared first on European Gaming Industry News.
Asia
Revenant Esports, headlined by NBK, to travel to India for $200,000 Skyesports Championship 2024
![revenant-esports,-headlined-by-nbk,-to-travel-to-india-for-$200,000-skyesports-championship-2024](https://gamingnewsroom.com/wp-content/uploads/2024/06/128584-revenant-esports-headlined-by-nbk-to-travel-to-india-for-200000-skyesports-championship-2024.jpg)
Skyesports, a premier global IP builder for gaming and esports, is thrilled to announce that Revenant Esports’ newly-signed Counter-Strike 2 esports roster from Europe, will be traveling to India for the Skyesports Championship 2024, scheduled to happen from July 23 to 28.
Revenant Esports’ Counter-Strike 2 esports roster is headlined by:
Nathan “NBK” Schmitt, a two-time Major winner, and one of the most notable names in the scene.
Accompanying the prodigy are:
- Kamil “reiko” Cegielko,
- Nabil “Nivera” Benrlitom,
- Laurențiu “lauNX” Țârlea, and
- Adelin “adeX” Nica.
The European team has received a direct invite to the Skyesports Championship 2024. They will be traveling to India to be one of eight teams competing in the tournament, which features the likes of Aurora Gaming, BetBoom Team, Eternal Fire, Furia, and The MongolZ.
Commenting on the latest invited team to the Skyesports Championship, Shiva Nandy, Founder and CEO, of Skyesports, said, “We are thrilled to welcome the talented roster of 1 Revenant Esports to the Skyesports Championship. It fills us with immense pleasure to see local esports organizations realizing the potential of Counter-Strike 2 esports, fueled by our $1 million 2024 roadmap and numerous on-ground events, and picking up international rosters. Bringing the best esports athletes in the world to compete in India has been a dream for us. We look forward to hosting the Skyesports Championship LAN this July.
Skyesports will also be hosting separate qualifiers in Europe and India to determine the last two teams in the Skyesports Championship.
The Skyesports Championship LAN in India with some of the world’s best esports players will undoubtedly be a major boost to the local Counter-Strike 2 esports community. India’s gaming market has rapidly grown to USD 3.1 billion in FY 2023, per a report by Statista. At a CAGR of 20 percent, the gaming industry is among the fastest-growing segments in India’s media and entertainment industry and will be worth over USD 7.5 billion by FY 2028.
The post Revenant Esports, headlined by NBK, to travel to India for $200,000 Skyesports Championship 2024 appeared first on European Gaming Industry News.
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