Nazara Technologies acquires Kenyan money betting company

IPO- bound social gaming compa♑n🧜y Nazara Technologies has acquired 70% stake in Kenyan real-money betting company NZ🌸 World Kenya Ltd.

While Nazara will be holding 70% shares in NZ♚ World, the bal🌳ance 30% will be held by a local Kenyan partner.

NZ Worl💟d 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 with the star💞t of the FIFA World Cup 2018 later this month.

NZ World has a betting license from the Betting Control Board of Kenya and will be operating within the regulato🌠ry framework established by the Kenyan authorities.

Speaking on the development, Nazara Technologies CEO Manish Agaꦑrwal 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 overall Rs. 1,000 crore online mobile gaming market in In𓂃dia.

Agarwal added that 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 prediction game created by Mastermind Sports as well as Halaplay’s fantasy🎐 sportsಞ product will also be offered in Kenya.

In the past, Nazara has stated th🔜at it is such as teenpatti and pok🌳er in India.