Updated Mar 17, 2026 by PlayWay
PlayWay S.A. reduced the maximum loan ceiling for CreativeForge Games' title 'Phantom Doctrine' from 9 million PLN to 7.65 million PLN.
The reduction in external debt financing was driven by the stronger-than-anticipated commercial performance of the studio's previous title, 'Hard West'.
Increased internal liquidity from 'Hard West' sales allowed CreativeForge Games to decrease its reliance on shareholder-provided capital for the development of 'Phantom Doctrine'.
This financial adjustment reflects a healthier cash flow position for the subsidiary compared to initial forecasts established in 2016 and 2017.
The amendment highlights the impact of successful product lifecycles on the capital allocation and debt structures of portfolio companies within the PlayWay S.A. group.
The regulatory disclosure, issued in early 2018, pertains to the final stages of the production cycle for 'Phantom Doctrine'.
PlayWay S.A. reduced the maximum loan ceiling for CreativeForge Games' title 'Phantom Doctrine' from 9 million PLN to 7.65 million PLN.
The reduction in external debt financing was driven by the stronger-than-anticipated commercial performance of the studio's previous title, 'Hard West'.
Increased internal liquidity from 'Hard West' sales allowed CreativeForge Games to decrease its reliance on shareholder-provided capital for the development of 'Phantom Doctrine'.
This financial adjustment reflects a healthier cash flow position for the subsidiary compared to initial forecasts established in 2016 and 2017.
The amendment highlights the impact of successful product lifecycles on the capital allocation and debt structures of portfolio companies within the PlayWay S.A. group.
The regulatory disclosure, issued in early 2018, pertains to the final stages of the production cycle for 'Phantom Doctrine'.