With last month’s judgment from the Madras High Court (India’s High Court) reversing the ban on real money gaming platforms, the sports media and gaming company Nazara has stepped up to the plate with some lofty goals. They want to earn ₹100 crore ($13.55 million) in revenue by the year 2023.
“The fact that real-money gaming contributes 80% to all e-gaming revenues and recent positives coming from various court judgments is giving us confidence,” said Nazara CEO, Manish Agarwal. “Considering the positives emerging from the space, we are looking to scale this business…We want to touch ₹100 crore of revenues for every gaming segment we operate in. And skill-based gaming only contributes to ₹15 crore of our overall revenues, at present, which is insignificant. We want to scale this segment to over ₹100 crore in revenues this year,” said Agarwal in an interview. Nazara offers gamified learning, e-sports, free games (freemium), telecom subscriptions, and fantasy or real-money gaming.
Bringing in ₹100 crore by 2023 is certainly a tall task but is certainly within the realm of possibility given the new laws and Nazara’s recent acquisition of OpenPlay Technologies.
Through the OpenPlay acquisition, the company is also targeting online influencers, while allowing them to host online skill-based games by developing a plug-and-play tech and marketing stack. This plug-and-play, software-as-a-service (SaaS), will allow any platform or individual to offer the service to their users.
(All information was provided by Livemint)