Games24x7 elevates Saroj Panigrahi to COO

Games24x7 Private Limited, a gaming company that runs gaming apps RummyCircle and My11Circle, on Monday, elevated Saroj Panigrahi as chief operating officer (COO).

Panigrahi has been an integral part of the Games24x7 team for over 15 years and has held multiple positions within the organisation playing a pivotal role in shaping the company’s product strategy. In his new role, Panigrahi will spearhead marketing and operations across all its existing and upcoming platforms, the company said in a statement.

In his most recent role, he has been instrumental in building My11Circle. Under his leadership, My11Circle has witnessed significant growth, offering an engaging and immersive experience to millions of users, making it a number two player in the fantasy sports business.

"Saroj has been an invaluable team member over the years, and has consistently demonstrated exceptional leadership, strategic acumen and deep understanding of the user. His dedication and unwavering commitment to delivering extraordinary user experiences has not only elevated our platform but has also inspired our entire team, Trivikraman Thampy, co-founder and co-CEO of Games24x7, said in a statement.

A B.Tech from the College of Engineering and Technology, Bhubaneswar, Panigrahi said, “Throughout my journey, I have had the privilege to work closely with an exceptional team that embodies values of integrity, innovation and customer-centricity. Building upon the strong foundation and our remarkable journey in the industry, my goal is to drive forward the next phase of growth for our businesses at Games24x7.”

The number of Indian gamers is growing at a compounded annual growth rate (CAGR) of 12% and is expected to touch to 700 million in FY25 compared with 500 million in 2021, according to a report by Dentsu published in December last year.

About 46% of gamers in India are women and that overall, ‘Real Money Game’ revenues currently constitute 57% of market size but future growth is projected to be driven by in-app purchases growing at a 34% CAGR. There were 120 million paying users in FY22, which represents a 24% conversion rate, the report said.