The Russian part of My.Games will be separated into a separate company

Leta Capital Managing Partner Alexander Chachava will spin off the Russian part of his My.Games gaming holding into a separate independent company, Astrum Entertainment. It will handle game publishing in Russia, including current licenses for PC games from external developers. My.Games upon completion of the restructuring will cease its activities in the Russian Federation. This was reported to Kommersant by the press service of the publisher. The restructuring process, according to the press service, will take several months.

Astrum Entertainment will keep all the current teams involved in publishing projects in Russia. The company will enter into a joint venture (JV) with the gaming company Innova, which specializes in the localization and operation of PC games in Russia. Innova will become the controlling and managing person of the created joint venture. My.Games will focus on international business development by continuing to develop and publish games in markets around the world.

My.Games has its own game store and also develops and distributes video games through mobile app stores. Among the projects are Hustle Castle, War Robots, Left to Survive, etc. In total, My.Games portfolio, according to a company representative, includes more than 70 own projects. At the end of 2021, the company’s revenue amounted to 43.8 billion rubles. (growth 10.5% year-on-year), follows from the reporting of VK.

In October, VK sold My.Games to Alexander Chachava. After that, the holding transferred part of the holding’s projects to the Cypriot structure so that they would not be removed from foreign game stores. Problems with licenses from developers began after the start of the Russian military operation in Ukraine.

For more information about problems with My.Games gaming licenses, see Kommersant’s material. “American Dad Goes Home”.

Erdni Kagaltynov