Nazara Technologies acquires Kenyan money betting company

IPO- bound socialಌ gaming company Nazara Techno💜logies has acquired 70% stake in Kenyan real-money betting company NZ World Ken☂ya Ltd.

While Nazara will be holding 70% shares in NZ World, the balance𓂃 30% will b🌳e held by a local Kenyan partner.

NZ World will be offering a host of real money sports-related games such as betting, fantasy sports, quiz, arcade and prediction games etc. and its launch will be coinciding wit🐽h the start of the FIFA World Cup 2꧙018 later this month.

NZ World has a bet💛ting license from the Betting C🌞ontrol Board of Kenya and will be operating within the regulatory framework established by the Kenyan authorities.

Speaking on the development, Nazara Technologies CEO Manish Agarwal said, “Real money (game of chance) is not legal in India. It is a very big market in Africa and is the main reason why we are setting up a new entity in Kenya.” He added that real mo🐲ney gaming in Kenya is growing fast, with the market currently pegged at around Rs. 1,500 crore pe🐭r month compared to the overall Rs. 1,000 crore online mobile gaming market in India.

Agarwal added that Nazara would be loﷺoking at expanding in real money gaming in other regulated African markets such as Cameeron, Nigeria a♋nd Ghana in the near future.

Products of Nazara’s investee companies such as a real-money social prediction game created by Mastermind Sports as wellꦺ as Halaplay’s fantasy sports product will also be offered in Kenya.

In the past, Nazara has stated t𝔍hat it is such as teenpatti and poker in India.