The parent company that manages the online poker platform PokerBaazi, “Moonshine Technology Pvt. Ltd.” have revealed their plans to spend $12 to $15 million on advertising and marketing this fiscal year, which is a threefold increase from the previous year.
Moonshine co-founder and chief marketing officer Varun Ganjoo said, “Now we think it’s an apt time to take poker to the masses, and so, we are tripling our marketing and advertising budgets. In gaming, the topmost source of discovery is through peer recommendations. And so, the experience of a user becomes important.”
In addition to developing apps like “CardBaazi” and the fantasy cricket game “BalleBaazi,” Moonshine is attempting to introduce new card games like Solitaire. The company initially started with PokerBaazi but later expanded into fantasy sports gaming.
Currently, all the games by Moonshine are in the real money gaming category. According to Ganjoo, PokerBaazi has 1,50,000 monthly active users, with 20,000 users logging in daily. The total user count is around 12 million, with 3 million only playing poker and the rest playing fantasy sports games.
“Poker is a game of skill and is in the real money gaming category. But we are marketing it more like a sport, not a game, and are also looking at tying up with management institutes and corporates,” Ganjoo added.
BalleBaazi is run by SBN Gaming Pvt. Baazi Networks Pvt. Ltd. runs PokerBaazi, and CardBaazi is registered as Baazi Games Pvt. Ltd. All these are subsidiaries of Moonshine.
According to a business intelligence platform Tofler, an 82% increase in consolidated revenue in FY22 totalling ₹ 84.3 crore has been recorded by Baazi Networks. Filings with the Registrar of Companies reveal that the profit after tax for the company was 4.52 crore in FY22, which was almost double from last year.
Moonshine’s revenue also almost doubled this year, sitting at 21.4 crore in FY22 compared to 11.22 crore in FY21. In FY22, it had a profit of 1.73 crore, up from 84.5 lakh the year before. Revenue for Baazi Games fell by 80%, from 7.49 crore to 1.55 crore.
Moonshine anticipates revenues of 180 crore in FY23, mostly driven by a product-led strategy with PokerBaazi remaining the major focus, according to Ganjoo.