My.Games has announced it is pulling out of Russia, the market it originally called home.
In an announcement issued by its Amsterdam headquarters, the publisher said all parts of the business that have been generating revenue in Russia will be spun off into a new independent entity. This entity will have no affiliation with My.Games.
Licenses for all Russia-related products will be transferred to independent Russian firm Astrum Entertainment, after which My.Games will no longer earn revenues from these titles in Russia.
The company will also cease any remaining operations in that market. It will continue to develop and publish titles for console, PC and mobile, focusing on key markets such as the US, Europe and Asia, with plans to also target developing markets such as MENA, Latam, India and Indonesia.
My.Games said its exit will involve restructuring the business, with the publisher now focused "solely on international business development, as well as improving infrastructure for its distributed team."
More than 90% of My.Games staff work remotely, and have done so since 2020. The company is led by its Amsterdam headquarters, with offices in Cyprus, Spain, China, Finland and Korea.
My.Games also has co-working spaces in Turkey and Armenia, with plans to open more across EMEA in 2023.
Back in October, My.Games was acquired by Leta Capital's managing partner Aleksander Chachava in a deal worth $642 million.
My.Games was originally launched in 2019 as a publishing label of Mail.ru, a leading Russian internet and communications firm.
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