Gaming platform Nazara Technologies is looking to have a bigger footprint in the skill-based real-money gaming business, according to CEO Nitish Mittersain.
What Happened? The Mumbai-based firm will look to make the most of the growing regulatory clarity around real-money gaming in the country. Mittersain told Moneycontrol that the only bottleneck left was the blurriness around the goods and service tax (GST).
The CEO said that the firm will look to scale up its current offerings, publish fresh real-money games, and buy other companies in order to consolidate its position in the market. He added that the firm was working with local and international developers to publish new real-money games beyond fantasy sports, rummy, and poker.
The Ministry of Electronics and Information Technology (MeitY) in April rolled out new gaming-related amendments to the Income Tax Act 2021, allowing several self-regulatory organisations (SROs) to ascertain whether a real-money game can operate in India or not.
India’s gaming market size was estimated to be worth around $2.6 billion in the financial year ended 2022, of which real-money gaming contributed 57%, according to an IBEF report.
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