My.Games Announces Russia Exit and Business Restructuring

My.Games, a prominent gaming publisher, has revealed plans to withdraw from the Russian market, where it initially began operations. The company's Amsterdam headquarters announced that all revenue-generating aspects of the business in Russia will be spun off into a separate, independent entity, thereby severing ties with My.Games. As part of this move, licenses for Russia-specific products will be transferred to Astrum Entertainment, an independent Russian firm, resulting in My.Games no longer earning revenue from these titles in the Russian market. The company will discontinue its remaining operations in Russia and instead focus on developing and publishing games for console, PC, and mobile platforms, targeting key markets including the US, Europe, and Asia, as well as emerging markets such as MENA, Latam, India, and Indonesia. This strategic shift will involve restructuring the business, with My.Games now concentrating on international business development and enhancing infrastructure for its remote workforce, which accounts for over 90% of its staff. With headquarters in Amsterdam and offices in multiple countries, including Cyprus, Spain, China, Finland, and Korea, My.Games also operates co-working spaces in Turkey and Armenia, with plans for further expansion across EMEA in 2023. The company's decision to exit the Russian market comes after its acquisition by Leta Capital's managing partner Aleksander Chachava in a $642 million deal in October. Originally launched in 2019 as a publishing label of Mail.ru, a leading Russian internet and communications firm, My.Games is now poised to embark on a new chapter in its history.