Portfolio Realignment to Focus on Emerging Gaming Markets
NODWIN Gaming has sold its entire stake in the Evolution Championship Series (EVO) to RTS, marking a strategic shift in its global portfolio. EVO is one of the world’s largest fighting game tournaments, bringing together players, publishers, and esports communities across international markets.
Despite exiting its ownership position, NODWIN said it will continue working with RTS as a regional partner to support EVO’s expansion in emerging markets.
Continued Partnership to Support Global Expansion
Following the acquisition, RTS will lead EVO’s next growth phase, focusing on expanding its global footprint and strengthening its esports ecosystem. NODWIN Gaming said it will collaborate on EVO’s expansion across high-growth regions, particularly in emerging markets.
The company added that the move aligns with its long-term strategy of investing in local intellectual properties and building esports infrastructure across regions in the Global South.
Financial Growth and Strong Revenue Momentum
NODWIN Gaming has reported improving financial performance alongside its strategic realignment. The company returned to EBITDA-positive status in Q3 FY26 and reported revenue of ₹530.3 crore ($58.5 million) for the first nine months of FY26, representing 58% year-on-year growth.
The company continues to expand its presence in gaming and esports markets through partnerships and regional ecosystem development initiatives.
Ownership Evolution and Strategic Independence
Nazara Technologies, which acquired a 55% stake in NODWIN Gaming in 2018, had gradually reduced its controlling stake, allowing NODWIN greater operational independence.
The EVO stake sale highlights NODWIN Gaming’s focus on strengthening its position in high-growth gaming markets while optimising its global investment portfolio.
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