Nazara signs agreement to acquire a 50% stake in Bluetile Games & BestPlay Systems

Europe

AGBrief Editorial

-

March 19, 2026

0

Nazara Technologies, through its fully owned arm Nazara UK, has signed definitive agreements to purchase a 50% controlling interest in Bluetile Games S.L. and BestPlay Systems S.L., valuing the deal at USD 100.3 million (INR ~918 crores).

Bluetile Games

Bluetile operates a diversified portfolio of globally popular casual, social mobile games including titles such as Yatzy, Domino Legends, Mahjong Voyage and Spade Stars. The platform has achieved global scale with nearly 375 million downloads and 22 million monthly active users across 17 live games.

Bestplay Systems

BestPlay, its in-house rewarded engagement platform, contributes an additional 2.2 million monthly active users and acts as a built-in player acquisition, retention and cross-promotion engine across its game portfolio. Together, this combination of content and distribution, supported by continuous optimization and live operations, enables Bluetile to operate a scalable and resilient gaming platform across global markets.

The platform has embedded artificial intelligence across its operating stack, spanning game development, data infrastructure, marketing and live operations and AI-assisted development pipelines enable Bluetile to significantly compress development cycles.

The company is led by founder Raymond Stauffer, an MIT alumnus and former Google executive, and a senior leadership team with experience across leading global gaming and technology companies, including Zynga, King, Voodoo, Moonactive and Meta.

Financial Overview

For the twelve months ended December 2025 (“CY25”), Bluetile and BestPlay on a combined basis reported revenue of USD 153.6 million (INR ~1,405 crores) and EBITDA of USD 27.7 million (INR ~254 crores)

The business has demonstrated strong growth over the last three years, scaling revenue and profitability through expansion of its game portfolio and disciplined execution across global markets.

Transaction Structure

Nazara UK will initially acquire a 50% controlling equity stake in both Bluetile and BestPlay. Nazara also holds a call option, and the Sellers a corresponding put option, to acquire or sell the remaining ~50% stake by 2028 at a valuation based on 6.6x trailing calendar year EBITDA.

In addition, the transaction includes performance-linked earn-outs, with a most probable payout estimated at USD 98.2 million (INR ~898 crores), contingent on achievement of agreed revenue and EBITDA targets for CY2027–2029 and payable annually from 2028 to 2030.

This structure aligns consideration with future performance while significantly de-risking the acquisition for Nazara. A substantial portion of the future contingent consideration is expected to be funded through Bluetile and BestPlay’s operating cash flows and distributions, with up to 25% of each instalment payable, at Nazara’s discretion, in listed equity.

Nitish Mittersain, Jt. MD & CEO, Nazara Technologies — _{Nitish Mittersain}

Nitish Mittersain, CEO, Nazara Technologies, said: “Nazara UK’s acquisition of Bluetile and BestPlay brings proven strengths across game development, player engagement, and distribution, and will add meaningful synergies to our global gaming platform.

The team has embedded AI at the core of its operations — not just as a tool, but as a competitive advantage across development, marketing and live operations. This acquisition marks an important step in our strategy to build AI-enabled, globally scalable gaming businesses. We are excited to welcome Raymond and his team to the Nazara family”

Raymond Stauffer, General Manager, Bluetile Games, added: “Joining Nazara is a natural next step for Bluetile. Over the past several years, we’ve built a platform where technology and AI play a central role in helping us develop and scale games faster, stay lean operationally, and maximize user monetization. Nazara brings global scale, capital and strategic expertise that will allow us to accelerate growth and expand our portfolio worldwide.”

Strategic Significance

The acquisition establishes a scalable platform for AI-enabled game development, distribution and publishing across Nazara’s global gaming portfolio. By combining Bluetile’s AI-driven development and live-operations capabilities with BestPlay’s rewarded engagement and distribution platform, alongside Nazara’s global publishing, IP and distribution ecosystem, the partnership is expected to accelerate the creation, optimisation and global scaling of next-generation casual and social gaming titles.

Built on an API-first foundation, the suite incorporates White Hat Studios’ Engage promotional engine, comprised of tools such as Win Spins, Super Mode, and Triggers, alongside its award-winning Progressive Jackpot networks. This services an increasing demand for advanced gamification tools, enabling operators to stimulate user activity and drive sustained engagement.

These promotional tools are complemented by the studio’s first-class content portfolio. With a track record of creating custom products for tier-one operators, Amplify Bespoke will build on this momentum to deliver bespoke slots that support deeper brand integration and exclusive IP ownership.

Amplify Franchises transforms standalone hits into enduring game families, exemplified by the US-renowned 7s Fire Blitz series. By leveraging player familiarity and brand loyalty, franchises consistently drive momentum upon launch and can reignite traction across a game brand.

The suite is further strengthened by Amplify Omni, enabled through the studio’s landmark distribution agreement with Gaming Arts. The partnership facilitates the conversion and distribution of White Hat Studios content across US land-based casinos, while also supporting the transition of land-based titles into regulated online markets for the first time.

This powerful two-way content pipeline enhances the ecosystem, allowing US brands to engage and convert players seamlessly between casino floors and digital platforms.

The launch of Amplify is a major step in White Hat Studios’ strategy, bringing its full product portfolio together in one unified framework. Custom-built for US markets, the suite helps operators engage their audiences and boost commercial performance.

Daniel Lechner, SVP Sales and Marketing at White Hat Studios, said: “Amplify will serve as the promotional and engagement backbone of White Hat Studios. Bringing our diverse offering under one cohesive ecosystem, the suite is optimised to deliver tangible impact across the entire player journey. By combining configurable engagement tools with premium, high-performing content, Amplify empowers US operators to differentiate and scale within competitive environments.”

Diving Deep: Games Global & Stormcraft unveil Mermaid’s Millions Cashingo

Elsewhere

AGBrief Editorial

-

March 19, 2026

0

Diving Deep: Games Global & Stormcraft unveil Mermaid’s Millions Cashingo

Stormcraft Studios, in partnership with Games Global, has launched Mermaid’s Millions Cashingo, a deep‑sea adventure slot rich with colour, charm, and multi‑dimensional gameplay.

Building on more than 15 years of success enjoyed by the heritage title, Mermaid’s Millions, the upgraded sequel introduces the Cashingo and ULTRA Link&Win features to enhance gameplay.

Set in a shimmering underwater kingdom, the 5×5, 40-payline title unfolds among coral caverns and glittering reefs, with win potential in excess of 13,000x.

At the heart of the game is the Cashingo feature, where Cash and Jackpot Coins populate a dedicated grid during both the base game and Bonus Spins. Some coins appear as glowing pearls, duplicating onto the grid where they stick and accumulate.

Forming horizontal, vertical, or diagonal lines awards instant prizes and jackpots, while pearls landing on occupied positions merge their values to increase potential payouts.

Further intrigue comes through the ULTRA Link&Win feature, activated by landing six or more coin symbols. The feature begins with three respins on a 5×5 grid, with coin symbols locking in place while the remaining positions continue to respin.

Special Seahorse Coins can unlock additional rows, expanding the reels and increasing reward potential, while boosters such as Collectors, Doublers, Persistent modifiers and Extra Life Coins can appear to increase winnings and extend the feature.

The adventure continues with Bonus Spins, activated by three or more scatter symbols to award 10 spins, where wild and coin symbols can appear Power Stacked to heighten the chance of significant wins.

Terence Igesund, Executive Producer at Stormcraft Studios, said: “Mermaid’s Millions Cashingo was made to feel vibrant and full of momentum from the very first spin. The ocean setting gave us the perfect canvas to build something visually rich, while the mechanics keep the action evolving as the grid fills and the reels expand.”

Combining ocean-themed visuals with proven mechanics, Mermaid’s Millions Cashingo delivers a dynamic experience designed to keep players engaged.

David Reynolds, Director of Games Strategy and Partner Management at Games Global, said: “Stormcraft Studios has delivered yet another title that blends strong visual identity with mechanics that are both engaging and easy to understand. Mermaid’s Millions Cashingo captures that balance well and is another example of how our studio network continues to deliver diverse, high-quality content that strengthens the breadth of the Games Global portfolio.”

Good morning. Macau undergoes wave after wave of change, and still manages to keep its head above water. But the SAR’s gaming reforms and virtual elimination of junkets continue to have a massive effect on how the industry operates – being pushed to focus more on the mass market and be strictly compliant. A new study indicates that this aligns it more closely with national objectives and ‘Chinese-style modernization’. Meanwhile, analysts at Fitch say that MGM China has entered a mature operational phase, improving its market share and allowing its parent company to benefit more from its recent branding license fee increase.

What you need to know

Macau gaming reforms pivoted from revenue to governance, aligning with China’s capital controls, transparency and legal priorities: Study.
MGM China enters steadier phase, with rising market share and competitive position, delivering stable cash flow to parent: Fitch.

On the radar

Delta Corp faces $188M GST notices from Goa authorities for FY22-23.
Macau hotel occupancy rate could fall due to ME conflict: economist.
Japan sees record 3.46M tourists in Feb, despite 45% drop in CH visitation.
Macau Chief Executive pushes diversification for next 5-year plan.

AGB Intelligence

MACAU

Reforms pivoted from revenue to governance: Study

The evisceration of Macau’s junket sector caused a massive change in the SAR’s gaming make-up, with authorities aiming to shift the focus away from revenue and concentrate on aligning with central government objectives. A recent study highlights how the sector is now more concentrated on compliance and catering to the mass market, marking a new wave in Macau’s evolution under ‘Chinese-style modernization’.

Industry Updates

FeedConstruct & EASL forge long-term data & streaming partnership.
IGT marks 30 years of Wheel of Fortune Slots with a NAM campaign.
BetConstruct supercharges AI‑driven innovation across 3 continents.

INTELLIGENCE | ASEAN | CAREERS | EVENTS

“IGT’s Wheel of Fortune Slots is more than a beloved casino game. It’s an iconic slice of Americana that players around the world associate with fun and life-changing jackpots,” said Hector Fernandez, IGT Incoming CEO. “As we celebrate the game’s 30th anniversary, we’re launching an exciting advertising campaign that honors its nostalgic roots while showcasing its bright future.”

The colorful advertisement boasts a Busby Berkeley-inspired look and feel, featuring intricate choreography, retro music and a kaleidoscopic treatment of the familiar Wheel of Fortune wheel wedges. The advertisement culminates with a beauty shot of IGT’s most recent Wheel of Fortune game, Wheel of Fortune Cash on Reels on the RISE55 cabinet.

IGT launched the social media-driven aspect of the campaign today, running various cuts of the commercial on LinkedIn, Instagram and Facebook. Later this year, IGT will extend the reach of the commercial via coast-to-coast placements on prominent, large-format outdoor digital billboards in iconic locations such as the Las Vegas Strip.

Speaking to TDM Canal Macau, António José Félix Pontes, the former Executive Director of the Monetary Authority of Macau (AMCM) highlighted that “for Macau’s economy, I believe that the effect of the war is still limited”, highlighted that it is currently impacting fuel prices and supply chains the most.

“It’s predictable that the hotel occupancy rate in Macau will fall and that there will be an increase in the inflation rate,” the top economist told the broadcaster.

If the war extends for a significant period of time, Félix Pontes opines that the economic impact could be similar to that of the pandemic, highly impacting developed countries, increasing interest rates, disrupting supply chains and seriously impact production, leading to strong impacts on companies and financial markets.

This could potentially cause compression of Macau’s gross domestic product (GDP) growth, which analysts at Fitch estimated could increase 4 percent yearly in 2026, from 6.9 percent in 2025.

The economist is now expecting GDP growth of about 3 percent, potentially rising to about 3.3 percent in a best-case scenario.

The casino and hotel sector is also exposed to the economic impacts of the war, despite being better protected than small and medium enterprises (SMEs) -for which government stimulus (via subsidies) may be necessary, as rising fuel prices and supply chain disruptions increase inflation and produce higher unemployment.

Speaking to AGB before the outbreak of the war, the financial expert had noted that Macau as a whole is “insulated from financial external volatility”, due to its strong financial reserves and “stable and continuous support from mainland China”.

The expert, however noted that “Macau is not totally immune to global volatility”, with events such as a global pandemic or similar calamity cutting into its reserves.

Before the war, the economist had a very positive tone on Macau’s economy, noting that “the rebound in Chinese consumer sentiment will stay”, having been boosted by a rising stock market, leading to increased visitation and visitor spending.

Amongst the previous situation, Félix Pontes had highlighted that “US-linked operators are currently experiencing higher levels of volatility and more stock price pressure compared to their Macau-centric peers”.

This is likely to continue, given the operators’ higher reliance on US capital markets and strong US shareholder base, as well as “the debt structure and parent company dynamics”.

FeedConstruct & EASL forge long-term exclusive data & streaming partnership

AGBrief Editorial

-

March 19, 2026

0

FeedConstruct & EASL forge long-term exclusive data & streaming partnership

FeedConstruct has secured the worldwide exclusive data and streaming betting rights to the East Asia Super League (EASL) in a landmark multi‑year agreement that takes effect immediately, covering the remaining final matches of the 2025/2026 season and all full‑season action ahead.

EASL is the champions league of professional men’s basketball in East Asia and the qualifying EASL participants are the top performing teams across the top basketball leagues from Japan, South Korea, the Philippines, Mongolia, Hong Kong, Chinese Taipei and Macau S.A.R.

Through this partnership, hundreds of FeedConstruct partners worldwide will deliver exciting and exclusive coverage of the action to their bettors. With exclusive rights spanning all global territories except Hong Kong, the action starts immediately with the highly anticipated 2025/2026 Quarterfinals tipping off on March 18th.

Commenting on the partnership, Narek Harutyunyan, CEO at FeedConstruct, said, “Signing a multi-year agreement with EASL is an important step for FeedConstruct. East Asia is a fast-growing region for sports, with strong fan engagement and increasing demand for quality content. Through this partnership, we aim to provide our partners with reliable access to EASL competitions across our global network.”

“We are thrilled to join forces with FeedConstruct in this landmark partnership,” added EASL Chief Executive Officer Henry Kerins. “This collaboration reflects our deep commitment to ensuring that EASL’s data reaches the world responsibly, accurately, and with the integrity our league demands. The demand for official, high-quality sports data continues to grow at an extraordinary pace, and we believe that aligning with a partner of FeedConstruct’s caliber and global reputation accelerates our mission to elevate EASL’s profile on a truly global scale. While we recognize the complexities and sensitivities surrounding the betting industry, we are committed to approaching this space thoughtfully and in full alignment with the standards and values of our league and its stakeholders.”

This partnership directly connects East Asian basketball with the global iGaming industry, empowering operators to capitalize on a highly engaged market that historically commands over 100 million viewers.

This strategic acquisition reinforces FeedConstruct’s position as a trusted provider in sports data, streaming, and technologies, bridging the gap between iGaming and the sports industry worldwide.

Delta Corp faces $188M GST notices from Goa authorities for FY22-23

India

Viviana Chan

-

March 18, 2026

0

Delta Corp faces $188M GST notices from Goa authorities for FY22-23

India’s Delta Corp Limited and its subsidiary have received goods and services tax (GST) notices totaling INR17.52 billion ($188.13 million) from authorities in Goa for the financial year 2022–23, according to a company filing.

The notices, dated March 17th, 2026, were issued by the Office of the Commissioner of Commercial Taxes, Government of Goa, under India’s GST laws.

The alleged tax shortfall includes INR13.5 billion ($144.96 million) attributed to Delta Corp and INR4.02 billion ($43.17 million) to its subsidiary, Highstreet Cruises and Entertainment Pvt. Ltd., inclusive of interest and penalties.

According to the filing, the notices relate to alleged insufficient payment of the GST, with the tax demand calculated based on the estimated gross bet value of all games played during the period. The company noted that applying GST on gross bet value, rather than gross gaming revenue, remains an industry-wide issue, with multiple representations made to the government.

Delta Corp said it has obtained legal advice indicating that the notices and related tax demands are arbitrary and contrary to law, and that it will pursue all available legal remedies to challenge the demands and associated proceedings.

The filing also noted that similar GST demands for the period from July 2017 to March 2022 remain under dispute. The Supreme Court of India has stayed further proceedings in those cases pending final adjudication, which could provide broader legal context for the current notices.

Playnance launches GCoin MEXC listing with 200,000 holders and 2M daily transactions

Elsewhere

AGBrief Editorial

-

March 18, 2026

0

Playnance launches GCoin MEXC listing with 200,000 holders and 2M daily transactions

Playnance has officially launched GCOIN trading, marking a significant milestone in the expansion of its Web3 entertainment ecosystem. The token is now live on MEXC, with GCOIN/USDT trading opening on March 18th, 2026, at 13:00 UTC following the project’s Token Generation Event earlier the same day.

The listing introduces GCOIN to the open market, unlocking broader access to the Playnance ecosystem and opening the door to a potentially enormous global user base. The launch follows strong early momentum, including high participation in MEXC’s Kickstarter campaign, where users competed for a share of a 50,000 USDT airdrop.

‏Ahead of the Token Generation Event, the GCOIN community demonstrated strong demand, with over 1 billion GCOIN locked in staking within hours of the staking program going live.

As the Exosystem’s native token, GCOIN powers transactions, rewards, and participation across a rapidly growing Web3 entertainment network. Beyond adoption metrics, GCOIN is designed to bridge Web2 and Web3 by offering seamless, Web2-like on-chain experiences that lower the barrier to entry for mainstream users. This approach is already enabling Playnance to onboard large volumes of new users, converting them into active participants within the ecosystem. The ecosystem already includes over 300,000 GCOIN holders, reflecting strong early adoption and continued expansion at scale.

The exchange debut represents a major step forward in accessibility, allowing global users to engage with the ecosystem through a liquid and scalable market environment. Deposits for GCOIN are already open on MEXC, with withdrawals scheduled to begin on March 19, providing users with full flexibility to trade and manage their holdings.

“Today marks a defining moment for Playnance,” said Pini Peter, CEO of Playnance. “We identified early the opportunity to bring real scale into Web3 entertainment, and we’re building one of the leading ecosystems to support it. With GCOIN now live, we’re opening the door to what comes next – a new wave of users, new models, and a much larger shift in how entertainment moves on-chain. This is just the beginning.”

Playnance has built its token model around ecosystem-driven rewards, linking value distribution directly to platform activity rather than relying on fixed emissions. The platform already supports more than 10,000 on-chain games and processes over 2 million on-chain transactions daily, reflecting strong user engagement and growing adoption across its network.

With GCOIN now live, Playnance is entering a new phase focused on accelerating growth, expanding its global reach, and driving deeper participation across its Web3 entertainment ecosystem.

AdvantPlay’s portfolio features an eclectic mix of classic themes and unique, real-life inspired games, such as Aztec: Bonus Hunt, Dragon Chi’s Quest, and Maya: Elemental Totem. These titles sit alongside its popular Original Games series, which includes Crash, Plinko, and a growing portfolio of up to eight specialized titles in this category.

The Original Games series, in particular, provides a unique blend of entertainment and player challenges. These games are designed to appeal to young adult demographics through engaging gameplay and a thrilling user experience tailored for next-generation audiences, particularly Generation Y (millennials).

This collaboration delivers strong strategic value for both sides. For QTech Games, integrating AdvantPlay’s diverse portfolio enriches its platform offering and extends its reach into fast‑growing verticals such as Crash and Instant Win. Meanwhile, AdvantPlay gains access to QTech Games’ expansive global network, boosting visibility, player engagement, and entry into high‑potential markets spanning Africa to Latin America.

Philip Doftvik, QTech Games’ CEO, said: “AdvantPlay has a great track record, thanks to their flair for crafting simplicity out of complexity, alongside harnessing the latest technology in elevating top-class game design. These are values we share, and so AdvantPlay was an obvious value-add to our platform. Their Mini Games, in particular, are a perfect fit for players seeking fast and fun action.

Kelvin, CEO of AdvantPlay, added: “We only want to team up with the leading aggregators, so we were naturally quick to tap QTech for their diverse emerging-market strategy. Thanks to QTech’s signature seamless integration, AdvantPlay’s content is now connecting with new, fresh audiences, fostering brand loyalty and broadening brand impact across a competitive igaming landscape. Needless to say, this deal widens our product distribution across emerging territories. We can’t wait to witness how our titles will capture the collective imagination of a swathe of new players.”