News Business Yggdrasil in Malta Exit

Yggdrasil in Malta Exit

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Well-known online game producer Yggdrasil has announced that it will be leaving Malta.

The firm is set to close its studio on the island and switch its attention to Poland, where it already has an extensive studio base. The result will mean that 30 employees in Malta will be made redundant, although it will retain a smaller workforce of 20 on the island where it has had a presence since 2013.

In a statement about the development, a spokesperson for Yggdrasil announced regret that the company was leaving but said that Malta had become a sub-optimal location as there was insufficient local talent and the company had been reliant on relocating workers.

The company plans to focus their game development work on their studios in Krakow and Stockholm, which include the capacity to work on game production, server development and math design.

But the news will come as a blow to the Malta industry, shortly after the news that nearly 100 people will be made redundant. The Stars Group, which has had offices on the island since 2017, has announced that it will be relocating as part of a major restructure. That will mean redundancy for nearly 80 workers, and that news was followed by the announcement that Multilotto will also be leaving Malta, resulting in 15 redundancies.

The gaming sector in Malta is currently worth around 12% of the country’s GDP and will remain a significant presence. In recent years, Malta has depended on both the gaming and financial services sectors for economic growth, but both industries are dependent on foreign workers, which has led to ever-increasing numbers of overseas visitors settling in Malta. The high cost of living in the island, particularly the escalation of rental prices has also been cited as a factor by gaming companies.

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