In a major development in the online gaming industry, Nazara Technologies has announced a whopping investment of Rs 982 crore in Moonshine Technology, the owner of popular online poker platform PokerBaazi. The investment marks Nazara’s entry into the online poker space and signals a significant push towards expanding its presence in the gaming sector.
The investment, which values Moonshine Technology at over Rs 1,000 crore, is a strategic move by Nazara to tap into the growing market for online poker in India. With PokerBaazi already commanding a strong user base and a solid reputation in the industry, Nazara is poised to capitalize on the burgeoning demand for online poker in the country.
PokerBaazi, founded in 2014 by Navkiran Singh and Varun Ganjoo, has become one of the leading online poker platforms in India, offering a wide range of poker games and tournaments for players of all levels. The platform has gained a loyal following among enthusiasts of the game, with its user-friendly interface, secure payment options, and attractive promotions drawing in players from across the country.
Speaking about the investment, Manish Agarwal, CEO of Nazara Technologies, said, “We see tremendous potential in the online poker market in India and believe that PokerBaazi has the right mix of technology, talent, and market expertise to capitalize on this opportunity. We are excited to partner with Moonshine Technology and support them in their journey to further grow and expand their business.”
Navkiran Singh, co-founder of Moonshine Technology, expressed his enthusiasm about the partnership with Nazara, saying, “We are thrilled to have Nazara 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 reach even more players across the country.”
The investment from Nazara will enable Moonshine Technology to ramp up its marketing efforts, invest in technology and infrastructure, and expand its user base across India. With the backing of a prominent player in the gaming industry like Nazara, PokerBaazi is poised to consolidate its position as a market leader in the online poker space.
The online gaming sector in India has witnessed significant growth in recent years, driven by factors such as increasing internet penetration, the popularity of smartphones, and the rise of digital payment platforms. With the investment in PokerBaazi, Nazara Technologies is positioning itself to capitalize on this trend and establish a strong presence in the online poker market.
Overall, the investment by Nazara Technologies in Moonshine Technology represents a significant development in the online gaming industry, highlighting the growing opportunities in the sector and the potential for further growth and innovation in the coming years. PokerBaazi, with its proven track record and loyal user base, is well-positioned to benefit from this investment and drive the expansion of online poker in India.