Nazara Technologies, a leading mobile gaming company in India, has announced a significant investment of Rs 982 crore in Moonshine Technology, the parent company of leading online poker platform Pokerbaazi. This investment marks Nazara’s entry into the rapidly growing online poker industry and solidifies its position as a key player in the Indian gaming market.
The investment will see Nazara acquiring a majority stake in Moonshine Technology, giving the company a significant foothold in the online poker space. The move is part of Nazara’s strategy to diversify its portfolio and tap into the lucrative online gaming market, which is expected to reach $2.8 billion by 2022.
Speaking about the investment, Nitish Mittersain, Founder and Managing Director of Nazara Technologies, said, “We are excited to partner with Moonshine Technology and Pokerbaazi, which has established itself as a leading player in the online poker industry. This investment will allow us to leverage our expertise in mobile gaming and technology to further enhance the Pokerbaazi platform and drive growth in the Indian gaming market.”
Pokerbaazi, which was launched in 2014, has quickly gained popularity among online poker enthusiasts in India, offering a wide range of games and tournaments for players of all skill levels. The platform has distinguished itself with its user-friendly interface, secure payment options, and a vibrant community of players.
With Nazara’s investment, Pokerbaazi is expected to expand its offerings and reach a wider audience of players in India. The company plans to introduce new features, promotions, and tournaments to enhance the overall gaming experience for its users.
Commenting on the partnership, Varun Ganjoo, CEO of Moonshine Technology, said, “We are thrilled to have Nazara Technologies on board as our strategic partner. With their extensive experience and resources in the gaming industry, we are confident that we can take Pokerbaazi to new heights and become the go-to destination for online poker in India.”
The investment in Moonshine Technology is the latest in a series of strategic moves by Nazara Technologies to bolster its presence in the Indian gaming market. The company has recently made investments in other gaming startups, including Nodwin Gaming and HalaPlay, further strengthening its position as a key player in the industry.
Overall, Nazara’s investment in Moonshine Technology is set to bring significant growth and innovation to the online poker industry in India. With the combined expertise and resources of both companies, players can look forward to an enhanced gaming experience and more opportunities to engage in their favorite card game.