Nazara Technologies acquires Kenyan money betting company

IPO- bound s💜ocial gaming cᩚᩚᩚᩚᩚᩚ⁤⁤⁤⁤ᩚ⁤⁤⁤⁤ᩚ⁤⁤⁤⁤ᩚ𒀱ᩚᩚᩚompany Nazara Technologies ha🍃s acquire🐬d 70% stake in Kenyan real-money betting company NZ World Kenya Ltd.

Whileও Nazara will be holding 70% shares in NZ World, the balance 30% will be held b🏅y 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 lau🐽nch will be coinciding with the start of the FIFA World Cup 2018 later this month.

NZ World has a b♏etting 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 money gaming in Kenya is growing fast, with the market currently pegged at around Rs. 1,500 crore per month compared to the ov🌳erall Rs. 1,000 crore online mobile gaming market in India.

Agarwal added tha🦂t Nazara would be looking at expanding in real money gaming in other regulated African markets such as Cameeron, Nigeria and Ghana in the near future.

Products of Nazara’s investee companies such as a real-money social predic🅺tion game created by ꦕMastermind Sports as well as Halaplay’s fantasy sports product will also be offered in Kenya.

In the past, Nazara has stated that i😼t is  such as teenpatti and poker in India.