Vladimir Nikolsky: Cyprus is one of the most dynamically growing gaming industry hubs

“I know people who relocate from other European countries just to better understand the gaming market and employment trends here. So Cyprus is not just another hub in the gaming industry; it’s one of the most dynamically growing ones with huge potential,” Vladimir Nikolsky the CEO & Founder of Utmost Games and the former CEO of My.Games shares.

In an interview with CBN, Nikolsky also talks about his experience of doing business in Cyprus so far while suggesting how the country can attract even more international gaming companies and grow as an IT hub.

He also reveals his view of the global scene and talks about his own company’s plans.

As the Founder and CEO of Utmost Games and former CEO of My.Games, how has your experience of doing business in Cyprus been so far?

My experience of doing business in Cyprus has been overwhelmingly positive — both as a location for running a company and as a place to live with a family. I didn’t choose Cyprus by chance: the country does everything it can to attract entrepreneurs and creates the right environment for innovation and growth. The legal and financial infrastructure is supportive, the talent pool is expanding, and the lifestyle here is incredibly comfortable — all of which combine to make it an ideal base for any forward-thinking company.

How would you describe the games scene in Cyprus today? Do you predict further development in the future?

Every year, Cyprus attracts more and more talent as increasing numbers of game companies open offices or local branches here. There are also many events that bring together professionals from a wide range of fields — not just game development and publishing. I know people who relocate from other European countries just to better understand the gaming market and employment trends here. So Cyprus is not just another hub in the gaming industry; it’s one of the most dynamically growing ones with huge potential. What’s more, the government and local ecosystem are showing a keen interest in supporting digital entertainment, which will only accelerate growth.

Further to the above, what are some of the ways Cyprus can make itself even more attractive to international games companies?

In my view, the key is continued expansion. Yes, Cyprus is establishing itself as a growing IT hub, but there are still many adjacent sectors that haven’t discovered it yet. Investing in education, supporting startup incubators, and strengthening ties with international tech ecosystems could make a real difference. Additionally, introducing more tax incentives for R&D and IP development would be a powerful signal to global studios.

I also see a strong need for the creation of a gaming association — similar to those in other countries — that would actively promote Cyprus at international expos, have its own presence at these events, offer talented teams the opportunity to participate under special conditions, and help connect investors with companies. This kind of initiative is in high demand among teams of all sizes and would undoubtedly benefit Cyprus in attracting new studios.

More widely, what is your view of the global games scene? Can you share your view on potential future developments and industry trends?

The industry is undergoing massive changes across the board. One of the hottest recent discussions has been the announcement of the Nintendo Switch 2 and the company’s new pricing policy, with some games now costing around $80, as well as the return of regional restrictions — for example, cheaper local-market consoles that come with locked language support. There’s a lot of buzz online, and even analysts seem unsure what to make of it. In my opinion, Nintendo is once again doing what others hesitate to try — but they balance it out with amazing games. I can assure you, both myself and my kids will be thrilled to get the Switch 2 — assuming they don’t sell out in minutes, again. It’s a major event, and we’re only beginning to understand what ripple effects it may have on the industry. More broadly, I see continued convergence between gaming, entertainment, and social platforms.

Moving on specifically to your company, Utmost Games, can you tell us more about your products and services? Also, what are some of your upcoming plans for the business?

I’d like to highlight two companies we’re actively working with — both based in Cyprus. Digital Vortex Entertainment is an indie publisher of so-called “Triple-I” games. Their debut title, RailGods of Hysterra, is preparing for early access launch on Steam. This year, the team is ready to announce several new projects. I must say, they are top-tier professionals, and they’re particularly excited about the potential of the Switch 2.

Top App Games is a mobile studio whose debut title, Ludus, recently surpassed six million players. The game continues to grow rapidly — including in terms of revenue.

As for Utmost Games, our focus is on identifying breakthrough projects and helping them scale globally — whether through funding, publishing, or strategic support. We’re also exploring new partnerships and plan to expand our portfolio in both mobile and cross-platform segments.

Is there anything else you would like to add?

I believe Cyprus has all the ingredients to become one of the world’s key hubs for gaming and digital entertainment — not just as a tax-friendly jurisdiction, but as a true ecosystem of creativity, innovation, and collaboration. I encourage companies and entrepreneurs who haven’t yet considered Cyprus to take a closer look. There’s incredible energy here.