By Sagar V. Mankar 
Ninjas in Pyjamas Group (NIP Group), a leading esports organization, has announced a significant partnership with ADIO Holdings Restricted Limited (ADIO). The agreement, valued at $40 million, spans four years and is contingent on performance milestones.
As part of the deal, NIP will relocate its global headquarters to Abu Dhabi. The relocation aligns with Abu Dhabi’s goal of becoming a hub for gaming and esports while fostering talent and industry growth in the region.
The partnership also extends beyond competitive gaming, involving game development, publishing, event management, creative studios, and talent development.
In a statement, Hicham Chahine, co-CEO of NIP Group, expressed excitement about the partnership:
“We’re delighted to partner with ADIO as we unite our Eastern and Western operations. Establishing a global headquarters in Abu Dhabi highlights not only our growth but also the increasing prominence of gaming and entertainment in the Middle East.”
Ninjas in Pyjamas, established in 2000, is one of the oldest and most respected esports organizations globally. The group initially gained fame for its Counter-Strike teams but has since expanded into games like Valorant, Rainbow Six Siege, FIFA, League of Legends, Rocket League, and Mobile Legends: Bang Bang.
In 2024, NIP Group went public on NASDAQ, raising $20 million to fuel its expansion. Unlike other organizations like FaZe Clan, which faced financial challenges, NIP’s stock has performed relatively well, trading at $6.75 per share.
The organization’s financial growth has been equally impressive. In its 2024 half-year results, NIP reported:
- Total Net Revenues: $39.3 million, a 2% increase compared to the same period in 2023.
- Event Production Revenue: A remarkable 376.5% year-over-year growth, reaching $8.7 million.
- Net Loss: Reduced by 59% to $4.7 million, down from $11.3 million in the first half of 2023.
- Operating Expenses: Cut by 49%, contributing to improved profitability.
- Adjusted EBITDA: Negative $2.6 million, slightly better than the negative $2.7 million from the previous year.
The company has also expanded into other areas. In 2024, NIP launched an esports-themed hospitality service in partnership with Homeinns Hotels Group and entered the game publishing market. They also acquired Young Will, a leader in teen-focused short video content with over 115 million followers across Chinese social platforms, to bolster their talent management initiatives.
According to Mario Ho, Chairman and Co-CEO of NIP Group, “The first half of 2024 marked a pivotal phase in our evolution from an esports-focused enterprise to a comprehensive gaming company.”
This partnership with ADIO is another major step in NIP’s global strategy, offering new resources and opportunities in a growing market. Abu Dhabi’s push to establish a thriving digital entertainment ecosystem also supports this move.
ADIO Holdings Restricted Limited (ADIO) is a company established by the Abu Dhabi Investment Office, a sovereign wealth fund.
Source: Esports Advocate