Online companies eye India potential

India’s online gaming sector has seen a spate of acquisitions in recent months as operators position themselves for strong projected growth, despite the ongoing regulatory uncertainties. In September last year Delta Corp, India’s largest hospitality and gaming company, acquired Adda52, also a top-ranking company when it comes to the Indian online gaming market. PokerStars, the biggest online poker company, owned by Canada-based Stars Group, has partnered with Sachar Gaming, a unit of the Sugal and Damani Group, for a site exclusively for Indian players, which became operational earlier this year. While, UK-based Stride Gaming acquired  a 51-percent stake in Rummy Passion, an Indian company based out of Chandigarh in January. “The growth seen in the business has surpassed the growth seen prior to the merger significantly,” Mohit Agarwal, co-founder of Adda52 told AGB. For the 2016/2017 financial year, the company posted revenue of 87.08 crore. In 2018, year-to-date, revenue stands at 123...

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