
The Issuer operates on the video games market, specializing in the production and distribution of games for various platforms, i.e. games for computers (PC and MAC), mobile games (Android and iOS) and games for consoles (Nintendo Switch, PlayStation 4 and Xbox One). In 2016, the Company acquired a significant investor, PlayWay S.A., a leading producer and publisher of computer games in Poland, listed on the Warsaw Stock Exchange. The company is a producer and publisher of games sold worldwide in the digital distribution model, through dedicated distribution platforms, in particular Steam, App Store, Google Play and Nintendo eShop, which are the largest distributors of games and applications in the world. The business model is based on the production and distribution of large-volume, low-budget and high-margin games by dispersed, small development teams.
Ultimate Games operates out of Poland and has been active since 2016. They have released 92 titles as a publisher and developed 11 of them directly. The company focuses on a high-volume strategy that relies on small development teams to create low-budget games with high margins. This approach allows them to distribute across many platforms, with the Nintendo Switch being their primary focus at 84 releases. PC and Mac follow with 58 and 17 titles respectively, while newer consoles like the PlayStation 5 and Xbox Series X|S have only four games each. Their catalog spans two decades with nearly equal output. The 2010s saw 46 games released, and the 2020s produced 44 more. Genre distribution shows a heavy leaning toward Indie games with 53 entries, followed by Simulator titles at 41 releases. They also cover Adventure, Arcade, and Strategy genres, but their portfolio is less concentrated in Role-playing or Shooter categories. The average rating across their 32 rated titles sits at 61.2 out of 100. This score indicates mixed to good quality overall rather than exceptional acclaim. Only one game, Carrier Deck from 2017, reached the great tier with a score above 80. Most of their library falls into the good range between 60 and 79 points. Several notable titles like All Walls Must Fall and Tank Mechanic Simulator hold scores in the low 70s. However, there are eight games rated as mixed and three classified as poor. Their recent output includes Priest Simulator: Vampire Show and True Virus, which continue their pattern of simulation-heavy content. The company was acquired by PlayWay S.A. in 2016, a move that likely supported their extensive distribution network on platforms like Steam and the Nintendo eShop. While they have maintained steady production over the years, the data shows they prioritize quantity and platform reach over consistent critical success.















































