Gaming
GUEST COLUMN: Online gaming is India’s fastest growing digital entertainment
Mumbai: Entertainment has become democratised and accessible as a necessity for all walks of life in India. In today’s ‘Digital India,’ the average Indian has found solace in some form of online gaming at some point in time during the day. There are various types of gamers, ranging from hyper-casual to strategic games to real-money gaming. The surge in the online gaming ecosystem in India has validated that Indians have definitely selected online gaming as a medium of entertainment. The common motivation to entertain across OTT and gaming remains constant across all media, old and new: it is a temporary escape from reality.
The pandemic saw an unprecedented increase in gaming activity, especially on old favourites like ludo, carrom or any other classic board game on their mobile to enjoy playing with friends and family. The soon-to-be multi-billion dollar online gaming industry has a lot to offer in terms of the diversity of products, services, technological developments, job opportunities, and more.
Although it still faces perspective biases in India from key sections of society on issues ranging from addiction to taboo, the behavioural shift of the consumer is here to stay. There are valid concerns surrounding the stigma of gaming being harmful or dangerous owing to investments of time or money, depending on the segment of the users, and the ecosystem will need to work with key government stakeholders to address that.
Needless to say, anything in excess has adverse effects, be it binge eating, shopping or gaming. This brings in the need for higher levels of self-control from a user, which can happen if more power is shifted to the user’s hands. Spain has recently mooted the idea of making it mandatory for all real-money gaming businesses to ensure that players select options on time and money limits at the beginning of every week so that they stick to their limits. Since it is hard to unilaterally shift power back to the players owing to a conflict of business interests, there is a need for regulations and policies to force operators to do so.
These issues don’t necessarily stem only from real money gaming, as there have been numerous reported unfortunate incidents of young children and families being impacted by other forms of online gaming, such as first person shooter games. India will need to come up with some kind of framework to address various segments of the gaming ecosystem to ensure that these businesses remain a mode of entertainment and not an unaccounted escape from reality. Having said that, there are some self-regulatory bodies that are proactively trying to keep operators in check by adhering to certain standards of integrity, transparency, and responsible play for users. While these are the right steps in the right direction, there needs to be more to follow.
With significant financial integration in online gaming, cyber fraud, foreign capital flow, the nature of advertisements, etc., have been major pain points to solve. Industry players have been on their toes and have put these issues much ahead of anyone on their radar. Like every growing industry, there is a need for incubation and support rather than rejection. In terms of annual mobile game app downloads, India leads the global charts behind China. The sector is a significant contributor to the economy and is set to create more than 12,000 new job opportunities by 2023. While the industry is mature and has put self-regulatory measures in place, it is important to build and develop a robust framework in collaboration with the government, not only to sustain, boost, and track growth but also to check irregularities and unfair practices that are detrimental to the Indian gamer.
The author of this article is Head Digital Works vice president – business strategy Siddharth Sharma.
Gaming
MTG gaming chief Benninghoff joins NODWIN board as esports firm primes for IPO
The Gurugram-based esports firm is pursuing a public listing, has returned to profitability and is growing revenues by 42 per cent
GURUGRAM: NODWIN Gaming is moving fast. The Gurugram-based gaming and esports company has launched a pre-IPO fundraising round, appointed UBS as lead adviser for both the round and a subsequent public listing, and landed a heavyweight board director, all in one go.
The new board member is Arnd Benninghoff, executive vice president of gaming at Stockholm-listed Modern Times Group (MTG), who has overseen the group’s strategic investments and portfolio growth since 2014. He is no stranger to building things: Benninghoff has founded and built fifteen companies, served as chief digital officer at ProSiebenSat.1 Media AG, managing director of SevenVentures, and chief executive of Holtzbrinck eLAB. He began his career as a journalist at Deutsche Presse Agentur and various TV networks, holds a Diplom-Kaufmann in business and administration from the University of Münster, and previously sat on the board of Edgeware AB.
The numbers back the ambition
NODWIN is not pitching a story without substance. The company has returned to EBITDA profitability and posted a 42 per cent year-on-year revenue surge, reaching $58.5m in the first nine months of FY2026. The pre-IPO round will combine a primary issuance to fund global expansion through organic growth and acquisitions, alongside a secondary sale to give existing shareholders some liquidity.
Akshat Rathee, co-founder and managing director of NODWIN Gaming, said Benninghoff understands “the entire lifecycle of the gaming and media ecosystem, from the boots-on-the-ground reality of building startups to the strategic complexity of managing multi-billion dollar global portfolios.”
Benninghoff, for his part, said the company “sits at the intersection of sports, entertainment, and technology, making it one of the most exciting players in the global gaming landscape today.”
A portfolio built for the global south
Founded in 2014 by Rathee and Gautam Virk, NODWIN has quietly assembled one of the more compelling esports portfolios outside the Western hemisphere. Its properties include DreamHack India and Comic Con India, and it recently acquired StarLadder, the Ukraine-based tournament organiser behind premier events in CS:GO and Dota 2. The company also serves as a long-term strategic marketing partner for the Evolution Championship Series (EVO), the world’s most prominent fighting game tournament, helping push it into new geographies.
Its geographic focus spans South Asia, Central Asia, Southeast Asia, the Middle East and Africa. Backers include Nazara Technologies, KRAFTON, Sony Group Corporation, JetSynthesys, and the founders’ investment vehicle Good Game Investments.
What comes next
With UBS running the books, a board freshly reinforced with European media and gaming expertise, and revenue heading in the right direction, NODWIN is laying the groundwork deliberately. The esports industry has burned investors before with big promises and thin margins. NODWIN’s return to profitability, combined with a real portfolio of owned intellectual properties across gaming, music and youth culture, gives it a more credible runway than most. The IPO clock is now ticking.
