Baazi Games, renowned for its skill-based real-money gaming platforms including PokerBaazi, SportsBaazi, and CardBaazi, experienced a staggering five-fold increase in scale between FY21 and FY23. This growth trajectory positions the company among the industry’s top players, having amassed over Rs 200 crore in revenue and sustaining profitability. Noteworthy contenders in the real-money gaming arena include Dream11, Gameskraft, A23, and Gameberry Labs.

According to the company’s consolidated financial statements filed with the Registrar of Companies, Baazi Games witnessed a remarkable 2.8X surge in revenue from operations, reaching Rs 232 crore in the fiscal year ending March 2023, compared to Rs 83 crore in FY22. Established in 2014, Baazi Games operates a suite of skill gaming platforms catering to diverse preferences. PokerBaazi serves as an online poker hub, while CardBaazi hosts various card games. SportsBaazi, formerly known as BalleBaazi, provides users with the thrill of live gaming during sports events. Additionally, the company ventures into other domains such as CasinoKart, PB School, Baazi Poker, and Tour.

A significant portion of Baazi Games’ revenue, approximately 99%, is derived from gaming activities, with the remainder stemming from the sale of traded goods and services. In pursuit of market visibility, the company allocated a substantial portion of its expenses towards advertising, echoing the strategies of its industry peers. Advertising costs surged 3.4X to Rs 118 crore in FY23 from Rs 34.41 crore in FY22.

Other notable expenses for Baazi Games during FY23 include ballooning outsourcing and subcontracting costs, reaching Rs 46.68 crore, and a doubling in spending on employee benefits to Rs 20.88 crore from Rs 10.16 crore in FY22. Moreover, significant investments were directed towards payment gateways, website development, server charges, and related expenses. Overall, the company’s total expenditure skyrocketed 2.7X to Rs 210 crore in FY23 from Rs 78 crore in FY22.