MY.GAMES to cease all operations in Russia as part of business restructuring

MY.GAMES, originally founded in Russia, has decided to cease all business operations in the country. The company plans to continue its global expansion and develop new games for global markets.

On December 15, MY.GAMES announced that it would now focus “solely on international business development.”

Here are some major changes to the company’s business:

• Since 90% of its employees have been working remotely since 2020, MY.GAMES will continue to improve infrastructure for its development team;
• It will open new offices in Turkey and Armenia, in addition to its already existing headquarters in Amsterdam, as well as offices in Cyprus, Finland, China, Spain, and South Korea;
• The company also plans to open new co-working spaces in the EMEA region in 2023;
• While still focusing on key markets like Europe, Asia, and the US, MY.GAMES will expand into MENA, Indonesia, India, and Latin America.

However, the main part of this restructuring is the exit from the Russian market. MY.GAMES will no longer be affiliated with the country and will stop receiving revenues from its games there.

All licenses for local products will be transferred to Astrum Entertainment, a Russian holding company focused on publishing and operating popular MMO titles like Perfect World in the country.

As reported by Russian state-owned news agency TASS, Astrum will create a joint venture with Innova, known for publishing and localizing Lineage II, R2 Online, and other online games. Once an EG7 subsidiary, it was sold for €32 million earlier this year.

Founded in 2019, MY.GAMES was a gaming subsidiary of VK Group (fka Mail.ru Group). Its portfolio includes over 150 titles, such as War Robots, Warface, Left to Survive, and Allods Online. Earlier this year, VK sold MY.GAMES for $642 million to serial entrepreneur Aleksander Chachava.