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Vilnius-based Game Insight posts EUR 14.7 mln loss for 2016
BC, Vilnius, 20.07.2017.
Print version
Print versionGame Insight, a Russian-owned, Vilnius-based global developer of free-to-play games for mobile and social platforms, in 2016 increased its annual revenue by 32.4% to 43.321 million euros, from 32.722 million euros in 2015, informs LETA/BNS.
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The
company's net loss soared by 150% to 14.692 million euros, according to its
2016 annual report filed with the Center of Registers.
"The negative result is due to major investment
in new games, which is expected to lead to higher sales in the future," it
said in the report.
Game Insight relocated its headquarters from Moscow to Vilnius in 2014. At the
time it was established, the Lithuania-registered company was owned by Russian
nationals, including Igor Matsanyuk with 66.67%, Alisa Chumachenko with 20%
and Sergey Avetikov with 13.3%.
Currently, Game Insight is 99.99% owned by Game Insight Group, whose ultimate shareholder is Cooper Media Corp, a company
registered in the British Virgin Islands.
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