Asia
Nazara delivers 84% Revenue Growth, 508% EBIDTA Growth YoY resulting in healthy net profit after tax & strong operating cash flows
Nazara Technologies Limited an India based, diversified gaming and sports media platform with presence in India and across emerging and developed global markets such as Africa and North America, announced its audited Standalone and Consolidated results for the year ended 31st March 2021.
As of March 31, 2021, Nazara has diverse business segments with revenue generation happening across gamified learning, esports, freemium, real money gaming and telco subscription.
Key Consolidated Financial Highlights for the financial year 2021 are as follows:
- Operating Revenues grew by 84% YoY to Rs. 4,542 Million
- EBITDA grew by 508% YoY to Rs. 596 Million
- EBITDA margins improved from 3.7% in FY20 to 12.7% in FY21
- Delivered a PAT of Rs. 136 Million in FY21
- Recorded a positive Net Cash Flow from Operations of Rs. 674 Million in FY21
Commenting on the performance, Mr. Manish Agarwal, Group CEO, said “For FY21, we clocked a total operating revenue growth of 84% on YoY bases and profits of Rs.136 Mn. As we operate in the high growth business segments of Gamified early learning, eSports and Freemium, we will continue to prioritize growth over profit maximization, so that we can achieve and maintain market leadership in segments we operate in.
Prudent financial management is in our DNA. This is clearly evident from Rs. 4,784 Million of cash reserves including liquid investments as well as zero debt on our balance sheet. We will efficiently utilize our cash balance to fund any inorganic growth opportunities- from building capabilities to geographic and demographic expansions in our domain of operation. To conclude, we are in a good position to continue executing our strategy and maintain our market leadership position in the years to come.”
Asia
PAGCOR WARNS PUBLIC AGAINST US-BASED ILLEGAL GAMING WEBSITE
The Philippine Amusement and Gaming Corporation (PAGCOR) reiterates its call to the public – both local and foreign nationals – to be extra vigilant when engaging in online gaming activities as illegal online gaming sites continue to proliferate.
The renewed call from the country’s gaming regulator came on the heels of news reports that a certain website — www.starspangled200.org – which was printed on close to 800,000 registered vehicle plates in Maryland, USA to promote the state’s history, was used by fraudsters as a link to an illegal gambling website allegedly operating in the Philippines.
According to PAGCOR Chairman and CEO Alejandro Tengco, the URL www.starspangled200.org printed on these Maryland plates which redirects to https://www.globeinternational.info/ has been used as an illegal gambling platform that not only violates players’ rights but also places the Philippines in a bad light.
“PAGCOR has nothing to do with the said websites, as well as the gaming activities happening therein. As the country’s gaming regulator, PAGCOR does not condone illegal online gambling. Engaging or betting on illegal gambling activities is not only a criminal act; it also takes away from the government billions of pesos in revenues which can be used to fund priority programs that will benefit a greater number of Filipinos. Hence, we have been continuously working with various government and law enforcement agencies to ensure that our gaming policies are in place and the online gaming platforms that we regulate are safe and credible,” he said.
“We have referred this matter to our Security and Monitoring Cluster for investigation. The website was also referred to the appropriate government agency for immediate action.” Tengco added.
Tengco strongly calls for gaming aficionados to only take part in its licensed online-based gaming platforms for a truly enjoyable and safe gaming experience.
The list of registered and legitimate websites can be found through this link: https://www.pagcor.ph/regulatory/index.php.
Asia
UltraPlay Expands Reach in Latin American and Southeast Asian Markets with Solisbet and Betador Deals
UltraPlay, a leading iGaming software provider and part of ODDS Group, recently announced two new partnerships with Solisbet and Betador. The move is set to strengthen their position in the Latin American and Southeast Asian markets, demonstrating their commitment to expanding their global reach.
Mario Ovcharov, CEO of UltraPlay, expressed his excitement about the partnership, saying, “The deal extends the company’s reach to new markets by onboarding new partners that will benefit from [our] bespoke and industry-proven white label solution.”
In addition to the two new partnerships, UltraPlay has also signed agreements with two new clients, launching their sports and eSports iFrame service with Global Odds and 8Storm. This will enable UltraPlay to expand its offerings and provide a more diverse range of products to its customers.
Moreover, UltraPlay has also introduced two new providers, Felix Gaming and Turbo Games, to its already extensive portfolio of games. Operators will now have access to popular games such as Crash X, Dice Twice, RollZone, and It’s a Joker, among many others.
“We’re always very happy to welcome new partners as they help us improve and expand our products and services. UltraPlay is continuously growing,” Ovcharov concluded. With these new partnerships and product offerings, UltraPlay is well-positioned to continue to expand its market share in the iGaming industry, providing exceptional services to its clients across the globe.
Asia
Newly-Built PAGCOR-Funded Evacuation Facilities in Cagayan Province Inaugurated
Three municipalities in the province of Cagayan became the latest beneficiaries of the Philippine Amusement and Gaming Corporation’s (PAGCOR) Multi-Purpose Evacuation Center (MPEC) project after the state-run gaming agency inaugurated the newly-constructed facilities on March 10 and 11, 2023.
The PAGCOR-funded basketball-court type multi-purpose facilities worth P12.7 million each were formally unveiled in the towns of Amulong, Solana and Penablanca.
In the municipality of Solana, the evacuation facility built in the flood-prone barangay Malalam-Malacabibi was already used as a temporary shelter last October after the gates of Magat Dam were opened to release water following the onslaught of Tropical Storm Paeng.
According to Solana Municipal Mayor Jennalyn Carag, despite being partially completed, the PAGCOR-funded evacuation facility already provided safe refuge to 80 families from low-lying communities in their town.
“When Tropical Storm Paeng hit us, the water level in Magat Dam rose. There are barangays in our town that have been isolated, such as barangay Dasun, Bauan and Malalam-Malacabibi. Even when this evacuation center was just being built, it has already given us a lot of help,” said Carag.
In the town of Penablanca, PAGCOR’s evacuation facility was built in the remote barangay of Minanga, which is almost two hours away from the town center and has no access to telecommunication. The community’s mountainous location and partly unpaved roads make it challenging for the local government to deliver swift aid to locals whenever they are affected by natural disasters.
“In recent years, we have been tested by various calamities like that only widespread flooding here in the province of Cagayan in 2020,” Penablanca Mayor Washington Taguinod said. “This was followed by another widespread flooding in 2021 and, in 2022, we felt the strength of the earthquake that hit the Ilocos region. The establishment of this PAGCOR evacuation center in Minanga barangay became our priority because of its distance from the population. This is a non-telco area, which means it is difficult for residents to seek immediate help when a disaster occurs.”
With the completion of the PAGCOR-funded evacuation center in the far-flung barangay Minanga, Taguinod said that the locals, including the indigenous peoples living at the foot of Sierra Madre, will be assured of a safe shelter as well as a venue where the local government can download relief goods and other basic government services in times of disasters.
Meanwhile, Amulong Municipal Mayor Elpidio Rendon also expressed his gratitude to PAGCOR for giving the vulnerable sectors of their community a secure evacuation shelter during calamities.
“In Amulong, we have identified typhoons, landslides, drought and flood as major hazards. The flood alone affects 17 of the 47 barangays. This situation pushes us to raise the adaptive capabilities of our communities that are exposed to flooding. This evacuation center will be of great help to the vulnerable members of our community, such as the elderly, children and pregnant women, especially during the onslaught of natural disasters,” said Rendon.
PAGCOR’s Vice-President for Corporate Social Responsibility Group, Ramon Stephen Villaflor, who graced the inauguration of the evacuation facilities in Cagayan, explained that instead of constructing a two-story building, the state-run gaming firm provided funding for four basketball-court type multi-purpose facilities in towns that are most vulnerable to flooding.
Besides Amulong, Solana and Penablanca, the town of Iguig also received a basketball-court type evacuation facility. Final inspection of the project in Iguig was already conducted.
Meanwhile, apart from the province of Cagayan, PAGCOR also recently inaugurated two-story multi-purpose evacuation centers worth P50 million each in the towns of Floridablanca and Candaba in Pampanga. Over 200,000 residents from said municipalities stand to benefit from the modern and spacious buildings. To date, a total of 24 MPECs have been completely built and inaugurated nationwide while 53 are still undergoing construction.
-
Latest News5 days ago
Light & Wonder Taps Trustly to Power Cashless Payments at Casinos
-
Latest News4 days ago
KingMidas Games Unveils Cutting-Edge Range of Multiplayer Games
-
Latest News2 days ago
AEG and Yaamava’ Resort & Casino at San Manuel Announce 16th Year in Partnership, Shaping the Future of Sports and Live Entertainment Across Southern California
-
Canada2 days ago
GiG increases Ontario market presence, powering the launch of Casino Time
-
Latin America2 days ago
CGS Events Revolutionizes the Chilean Gaming Scene with the Launch of CGS Santiago in its Fourth Edition
-
Latin America1 day ago
Betby Forges Strategic Partnership With Latam Powerhouse Cactus Gaming
-
Gambling in the USA1 day ago
Play’n GO announces expansion of BetMGM partnership with Pennsylvania launch
-
Latest News4 days ago
7JP Bolsters Team with Strategic New Hires Ahead of Brazilian Market Expansion