Nazara Technologies, a gaming and sports media platform, has successfully divested its 94.85% stake in OpenPlay Technologies which runs the popular Rummy platform, Classic Rummy, to Moonshine Technology, the parent company of PokerBaazi.
The transaction, valued at ₹104.33 crore, will be executed through the issuance of Moonshine’s Compulsory Convertible Preference Shares (CCPS) to Nazara and other sellers.
With this acquisition, Moonshine strengthens its position in India’s Real Money Gaming (RMG) sector, integrating OpenPlay’s Rummy platform into its existing Rummy offering. OpenPlay, a leading midsized Rummy operator, has maintained a profitable track record despite recent industry regulatory shifts.
Post the GST regulatory changes, OpenPlay successfully optimized costs and strengthened VIP retention, demonstrating resilience in a challenging market. This acquisition ensures a scalable and sustainable RMG business model under Moonshine’s leadership.
Navkiran Singh, Founder & CEO of Moonshine Technology, said, “The acquisition of OpenPlay is in line with Moonshine’s vision of building a holistic made-in-India RMG ecosystem. We look forward to leveraging OpenPlay’s strong foundation and accelerate the growth by enhancing user experience with our best-in-class technology and product innovations we are poised to accelerate growth and enhance user experience by integrating best-in-class technology and product innovations. We look forward to leveraging OpenPlay’s strong foundation and driving synergies that will redefine India’s real-money gaming landscape.”
Deepak MV, CEO of OpenPlay Technologies, said, “We at OpenPlay are excited to join forces with an industry leader like PokerBaazi/Moonshine and this marks a significant step in creating a more formidable RMG powerhouse. We are confident that Moonshine’s proven expertise in RMG will enable us to unlock substantial value in the Rummy segment. We look forward to leveraging the synergy between platforms to drive innovation and exponential growth in the real-money gaming space.”
