Casino Pride Buys 30% Stake in Online Start-up Baadshah Gaming

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  • PG News July 1, 2017
  • 2 Minutes Read

In a major development, Goa-based Casino Pride Group has bought a 30% stake in the Mumbai-based company OceanKing Software Solutions LLP, that owns and operates online gaming startup Baadshah Gaming, for an undisclosed amount.

As part of the deal, the online gaming hub that currently offers real money skill games like Poker, Fantasy Cricket and Chhota Game on their online platform will now launch its ‘Baadshah Gaming Live’ arena inside Casino Pride, Goa.

The Baadshah Gaming team boasts of over 50 years of combined experience in the industry and was co-founded by Madhav “Maddy” Gupta, a well-known poker player and operator who has been in charge of the poker room at Casino Pride for several years now.

In an official statement Baadshah Gaming representative said that, “The strategic partnership is aimed at boosting the gaming portal’s agenda of venturing into the ‘click and mortar’ business model”.

Baadshah Gaming went live this May and plans to offer more skill games like rummy, alongside the existing poker and fantasy sports under one roof. The fantasy leagues range in size from three to 10,000 players with buy-ins starting from as low as ₹15 and going up to ₹10,000.

Hyderabad-based game development company Head InfoTech India Pvt Ltd, which operated the online rummy platform Ace2Three, raised $73.7 million from investors led by Canadian private equity firm Clairvest Group in April. However, after the recent online gaming ban in the state of Telangana, the future of this deal is unclear.

Earlier this year Udupi-based gaming startup 99Games Online Pvt. Ltd also managed to raise funding from Japanese investment firm Dream Incubator. The details of the deal have not been disclosed.

India’s largest and the only listed BSE gambling and Hospitality Company – Delta Corp had earlier acquired stake in the online poker company Adda52.com, owned by Gaussian Networks Pvt. Ltd.

There is no doubt that India is one of the fastest growing markets in online gaming and a recent report titled “Online Gaming in India: Reaching a new pinnacle” predicts that the Indian online gaming industry will add 190 million gamers and become a billion-dollar opportunity by 2021, a huge jump from the $290 Million that it was valued in 2016.

The proliferation of affordable smartphones as well as the penetration of cheap 3G and 4G technologies in recent times have helped India becoming a fast-growing market for online gaming and the offers and promotions run by different operators often attracts new enthusiasts to try and become a part of the mega gaming boom.

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