Updated Jun 1, 2026 by InvestGame
Report · March 16, 2026
Published by InvestGame
Back in 2023, the revenue of the market amounted to just over $1.2 However, it is expected that by 2025, revenue will reach the mark of $6.7 billion. 6,7 7,1 7,52 7,97 8,44 8,94 It also driven by the fact that many 7% have chosen Cyprus as their new 5% home operational activities.
GROUP Market Size & Growth Back in 2023, the revenue of the market amounted to just over $1.2 However, it is expected that by 2025, revenue will reach the mark of $6.7 billion. 6,7 7,1 7,52 7,97 8,44 8,94 10% It also driven by the fact that many 7% have chosen Cyprus as their new 5% home operational activities. This significant indicates the potential 2% for growth development of the market 0% in the 2025 2026 2027 2028 2029 2030 Revenue is expected to exhibit an growth rate (CAGR 2025-2030) of 5.96%.
GROUP Ecosystem & Landscape Over time,Cyprus has become an increasingly attractive IT hub, with various tech setting up shop on the island. This trend has not been an exceptionfor the game industry, more andmore companies are choosing Cyprus astheir base of In July 2025, there were about282startups alone. Of these, 39 have received funding, 15 secured Series Aor investment rounds, and one has achieved unicorn D Today, there are already over600 companies of various sizes and types based in Cyprus, advantage of theisland's favorable business environment, skilled workforce, and location.The Cypriot government has also beenactively supportingthedevelopmentof the sector, providing incentives and creating a favorable regulatory framework for techcompanies thrive.
GROUP Success Stories & Investment MY.GAMES Ludus: Merge MY.Games and Playrix Wargaming This real‑time strategy RPG from These internationally known mobile Although headquartered in Cyprus publishers have established for strategic reasons, Wargaming Top App Games surpassed 3 million operations in Cyprus. develop PC and downloads and generates over $2 cross‑platform MMOs such as World million in revenue. Their presence has attracted talent of Tanks. and fostered local A million funding round ledby particularly in free‑to‑play casual Its presence ensures that Utmost Games in 2025 aims to and puzzle genres. gaming remains partof the local growth . ecosystem. The is on track toreach $3 million monthly revenue, how Cypriot studios achieve globalscale.
GROUP Mobile vs PC & Trends Cyprus’ gaming industry is dominated bythemobile segment. Companies like Playrix, Easybrain and Outfit7 specialize in casual and puzzle gamesfor smartphones. Top D Games other young studios are generating millionsofdownloads and significant revenue. presenceofseven of the world’s top 100 mobile game publishers by underscores Cyprus’ influence mobile However, thePC and console segment is also represented. Wargaming (World ofTanks) Digital Vortex Entertainment publish buy‑to‑play PC and console titles,and several local develop PC games or cross‑platform projects. Cross‑platform strategies—such as launching versions ofmobile titles and leveraging cloud gaming—are becoming more common , opportunitiesfordevelopers skilled in both mobile and PC development.
GROUP Drivers & Advantages 1 Favourable tax and regulatory 4 Quality of life and lifestyle The island provides competitive corporatetax Cyprus’ pleasant climate, beaches and and incentives that have attracted infrastructure improve qualityof life, making companies from CIS it easiertoattract and retain talent 2 EU membership and strategic location 5 Government support and ease of doing Being inthe European Union grants access to business a market and EU funding programmes. Entrepreneurs report that doing in Cyprus’ location between Europe,Asia and Cyprus is straightforward and efficient, with the Middle makes it aconvenient base proactive government initiatives to for regional operations growth inthe tech sector 3 Growing talent pool and international 6 Emerging community Investment is increasing in esports, Relocation by major publishers has brought blockchain gaming and experienced developers and executives to development tools, indicating that the Cyprus, creating avibrant community where industry is evolving beyond casual mobile multicultural teams collaborate
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LESS OPTIMISTIC 221% 15% DECLINE 0.0% 10% 5% CHALLENGING UA / 49%31% LESS OPTIMISTIC 2 2% LIMITED IMPLEMENTATION 63% INVESTMENT BANKING TEAM GLOBALLY 10+ YEARS SUPPORTING THE GAMING ECOSYSTEM 100+ TRANSACTIONS , $ 37BN VALUE 17GAMINGTRANSACTIONS <u>$5.8</u> bn TRANSACTIONVALUE GAMING TRANSACTIONS TRANSACTION VALUE Easybrain MTO SuperPlay ∑/ JAGEX RR SABER Sale to ...
Institutional Research Group 2026 US Venture Kyle Stanford, CAIA Capital Outlook Director of Research, US Venture [email protected] Our analysts’ outlook on the venture market in 2026 Senior Research Analyst, PitchBook is a Morningstar company providing the most comprehensive, most Venture Capital accurate, and hard-to-find data for professionals doing business in the private markets.
Bushiroad Inc. achieved a steady financial performance through the second quarter of fiscal year 2026, reporting net sales of 14,072 million yen for the period and cumulative first-half sales of 27,839 million yen. This 4.6% year-over-year increase reflects a resilient business model that balances traditional entertainment segments with expanding global reach. While the core Trading Card Game segment experienced a minor dip due to a lighter release schedule, the successful launch of the hololive OFFICIAL CARD GAME and a rising overseas sales ratio of 43.5% provided a stable foundation. Growth was further bolstered by high attendance in the Sports segment, particularly for New Japan Pro-Wrestling and STARDOM, alongside a significant foreign exchange gain. The company has already reached 64.6% of its full-year operating profit forecast, supported by the expansion of the PalVerse figure brand and consistent console game releases. Strategic focus remains on the worldwide mobile launch of HUNTER×HUNTER NEN×SURVIVOR in early 2026 and major product updates for flagship titles like Weiβ Schwarz and Cardfight!! Vanguard. Although the third quarter is expected to be a transitional period characterized by higher marketing expenditures and product specification updates, the full-year consolidated forecast remains unchanged. Long-term growth initiatives are centered on international IP utilization and capital efficiency. A strategic alliance with GENDA Inc. aims to accelerate global expansion, while the planned cancellation of 6,000,000 treasury shares in late 2025 underscores a commitment to enhancing shareholder returns. By integrating live events, digital gaming, and physical merchandise across domestic and international markets, the organization is positioning itself to navigate short-term transitional costs while securing a broader global footprint.
The notice serves to inform shareholders of a variance between the company’s actual second‑quarter performance for the fiscal year ending March 2026 and the forecast issued on 20 June 2025. For the consolidated period April 1 to 30 September 2025, net sales reached ¥1,244 million, 10.9 % below the prior estimate of ¥1,396 million, while operating profit fell to a loss of ¥322 million versus the projected ¥264 million loss. Net profit attributable to the parent’s shareholders declined to ¥44 million per share from the forecasted ¥47 million. On a standalone basis, sales were ¥363 million, 15.3 % lower than the ¥429 million expected, and net profit per share slipped to ¥45 million from ¥48 million. The primary driver of the shortfall was weaker domestic demand for newly released titles, which reduced unit sales below expectations. Conversely, a stronger yen depreciation generated foreign‑exchange gains that lifted both ordinary profit and net profit relative to the forecast. Despite the quarterly miss, the company retains its full‑year outlook unchanged. The revised full‑year consolidated forecast anticipates sales of ¥4,774 million, a 9.9 % decline year‑on‑year, with operating profit turning positive to ¥81 million after a prior loss, ordinary profit of ¥154 million, and net profit attributable to shareholders of ¥31 million. On a standalone basis, full‑year sales are projected at ¥1,081 million, down 23.8 % YoY, with ordinary loss of ¥118 million and net loss of ¥121 million. The company commits to updating the outlook promptly should subsequent developments warrant revision.