Mobile gaming company Nazara Technologies Ltd. has announced expansion of its operations in Kenya to tap the real money gaming market through the incorporation of a subsidiary — NZWorld Kenya Ltd.
Real-money gaming refers to games where participants have a chance of winning real money. Nazara holds a 70% stake in NZ World. NZ World in partnership with Nazara has secured a betting license from the Betting Control Board of Kenya to operate certain products within the licence.
NZ World is planning to introduce sports betting, sports fantasy (online games where participants create imaginary or virtual teams of real players of professional team sports such as cricket, football), sports arcade and sports real money quiz starting with FIFA in June 2018. Manish Agarwal, CEO, Nazara Technologies said, “Real Money gaming is popular in African countries like Nigeria, Ghana, Cameroon in addition to Kenya, primarily on account of a well laid out and clear licensing framework. We are excited to leverage Nazara’s on-ground network built over the last few years so as to exploit the sports betting and the fantasy market in the African countries beginning with FIFA 18.”
“We believe that with penetration of internet, affordability of smartphones and declining data prices, the gaming industry is picking up pace across emerging markets. Given Nazara’s presence in these markets, we believe that Nazara is well poised to offer the right product mix from amongst its stable investee companies and developer partners,” Mr Agarwal said.
