In a pivotal move, NODWIN Gaming recently expanded its esports operations to the United States. However, just a few months earlier in December, the company faced a major setback when the Maharashtra government abruptly withdrew support for hosting its flagship IP, NH7 Weekender, citing potential law and order concerns. The sudden cancellation led to significant financial losses, forcing NODWIN to swiftly recalibrate its plans and relocate the event.
Akshat Rathee, Managing Director and Co-founder of NODWIN Gaming, addressed the situation with calm pragmatism. “Governments will do government things,” he said. “We were given assurances. It didn’t work out. So we moved to Indore, Jaipur, and Noida.”
While the disappointment was clear, Rathee avoided placing blame. “I’m not here to judge what pressures were at play. We hoped things would be okay, and we were assured it would be solved. But it couldn’t be. We’ve taken the loss and moved the IP out of Pune.” He added, “We love Pune. But we won’t return unless the government invites us. We want to be partners, not adversaries.”
The event also marked the end of a long-standing collaboration with Bacardi. However, Rathee spoke with gratitude and respect. “NH7 wouldn’t exist without Bacardi. But as we looked to scale to seven or more cities, Diageo matched our ambitions better.” The transition was friendly, he clarified. “We still work with Bacardi on other properties. This isn’t a breakup—just a new chapter.”
Community led Esports
Even with these changes, NODWIN has been moving forward aggressively. The company, a subsidiary of Nazara Technologies, has invested over ₹75 crore in acquiring firms such as Trinity Gaming, AFK Gaming, and StarLadder—strengthening its capabilities in influencer management, content distribution, and event production.
Other properties like Comic Con have also grown, expanding from five to eight cities. “We expect both revenue and margin growth to be accretive based on these acquisitions,” Rathee said.
For him, esports is fundamentally about community. “Esports didn’t come from publishers—it came from the community. Look at StarCraft or World of Warcraft. The fans built the competition. Publishers followed.” He believes many people still misunderstand what esports does for publishers. “It doesn’t help you acquire new users—it helps you retain the ones you already have. It’s a long-term play.”
He explained that a game needs six to nine months after launch to become esports-ready. “You need players to spend hundreds of hours before the skill gaps become clear enough for real competition. If you play four hours a day, that still takes three months.” In India, he noted, only a few titles have reached that level of maturity: BGMI, Valorant, Call of Duty Mobile, and Real Cricket. “We have depth in very few titles. That’s the constraint.”
Rathee compared esports to cricket formats. “Test, ODI, T20—they all have their place. BGMI has BGIS and BMPS from Krafton, and BGMS from us. Different formats, but all valid.” His focus, he said, is on designing for the platform. “I needed a product that fits into a three-hour TV slot. Others don’t. That’s fine.”
Addressing the idea that publishers might be losing interest in India, Rathee disagreed. “Three years ago, Garena poured money into Free Fire. When they come back, they’ll do it again. Krafton has launched multiple titles already, and Riot is deeply invested in Valorant.”
He also pointed to Qualcomm’s backing of the Snapdragon Pro Series, and the rising performance of Indian teams in Call of Duty Mobile on the global stage. Brand partnerships, he said, are not slowing down. “We’ve seen over 100% growth. Gillette, OnePlus, bike manufacturers—they all want a piece of this. Anything youth-focused is looking at esports.”
Rathee laid out the economics clearly. “BGMI activations can cost crores. But if your budget is ₹70 lakh, maybe you back Call of Duty instead. It’s all about cost versus benefit.” What gives Indian teams an edge is their engagement. “Globally, team engagement is around 0.5%. Indian teams? Between 20% and 35%. That’s huge.”
He was direct about why some esports teams don’t succeed. “If you don’t run your team like a proper company, you’re done. If you can’t pay players and influencers well or build long-term value, you’re out.” He compared successful teams to football clubs like Arsenal. “Buy a team based only on potential, and they’ll leave in six months. Build a team, and they stay.”
‘Won’t risk the esports ecosystem’
Rathee also made it clear that NODWIN draws a line when it comes to Real Money Gaming. “We don’t accept RMG as a model for esports. It introduces variables we’re not comfortable with.” While he personally plays on RMG platforms, he said, “As a business, I won’t risk the esports ecosystem on it.”
Looking ahead, he believes the key lies in unifying gaming and esports experiences. “Consumers don’t distinguish. Whether it’s a live event, influencer stream, or esports tournament—it’s about engaging their time.” He also pushed back against the idea that brands only care about performance marketing. “If all they wanted was conversions, they’d just use affiliate links. But if you want brand love, you need affinity. You need storytelling.”
NODWIN’s journey is a story of resilience and vision. From just ₹65 lakh in revenue in 2014 to hundreds of crores today, the company has come a long way. In the third quarter of FY2025 alone, it reported ₹165 crore in revenue—a 23% year-on-year increase—driven by the success of flagship properties like Playground, the Snapdragon Pro Series, and the combined DreamHack and Comic Con event.
“We’re just getting started,” Rathee said with a quiet sense of purpose.