Wargaming: From Tanks to Banks, The Untold Financial Story (Part III of IV)

16 Responses

  1. Thing 1 says:

    Well, well, well…they take over a 25% interest in the bank and run it into the fucking dirt. Sounds about right.

    This makes PERFECT fucking sense when paired up with our original article. Think about it: they bought into the bank to extend their access to finance. Then they fucked it up so badly with bad investments that they stopped filing financial reports at all.

    That got Wargaming kicked off the stock exchange.

    So then they start pilfering accounts in the bank to bleed off any money they can because they’re fucking destitute. At the same time, they start firing EVERYBODY, pretty much all development on the game stops, customer service stops, all of it.

    Now they own a 25% stake in a broke bank that can’t even make investments anymore it’s so fucking corrupt. All of a sudden they start merging servers in North America, cutting back even more on what little services they had left…

    It’s the textbook example of a sinking ship. They’ve pilfered just about every god damn thing they could pilfer.

    The whole fucking thing is going tits up.

  2. Zeedox says:

    I find these a fascinating read.
    “At the same time, they start firing EVERYBODY, pretty much all development on the game stops, customer service stops, all of it……………….They’ve pilfered just about every god damn thing they could pilfer.”

    hmmm – do certain US states have business relocation subsidies?

  3. Thing 1 says:

    They fucking all do, but I’m sure Wargaming doesn’t qualify.

    It’s this simple: You can rent an office building in Texas for about 5% of the cost you pay in California. What’s more, Texas has lower tax rates as well.

    Pay scale is a shit ton lower in Texas as well. If you’re making 75,000 dollars a year in California, that same job will pay 50,000 a year in Texas if that.

  4. Mr_Alex says:

    Does this mean it is the end of Wargamming and their games?

  5. Thing 1 says:

    It certainly means that all those rumored billions we thought was pure bullshit is in fact pure bullshit.

    Wargaming have flat out fucked up everything they’ve touched. Every company they bought is gone. Everything they got involved with has failed.

    Fucking ALL of it.

    Rather than just stick to World of Tanks and do a good job with it, they got fucking greedy, thought they were world players, and fucked up EVERYTHING.

    That’s why they’re on the back foot now: hiding, closing locations, laying off people hand over fist, closing down servers…and on and fucking on.

  6. Mr_Alex says:


    Will that mean it will soon be the end of World of Tanks, Warships and warplanes?

  7. Thing 1 says:

    I don’t think so. You have to remember that they are still making money. So long as they are making money the games aren’t going to go anywhere, especially since they’re the ONLY thing making Wargaming any money at all. It just means their overall finances are complete shit and will be for the foreseeable future.

    The only thing that would change that is if they went completely tits up bankrupt, which is possible given all the shit we’re finding out. If that happens, the players will be the first to know. They’ll go to log in and the servers will not respond. They’ll go to the forums to posts and they too will be gone.

    Then we’ll all know what happened and pretty much why.

  8. Gomez_Adams says:

    Well, this certainly confirms what we’ve been saying all along: that Wargaming does NOT have the financial windfall income they falsely advertise through paid articles and that their business dealings are, to say the very least, more than a bit suspect.

    None of it surprises me one single bit.

  9. Shadora says:

    The most important part of the article, besides how bad the bank is doing, is the fact that all of the banks in Cyprus might be insolvent. They have been hijacked and gutted and only show assets on the books, where none might exist. They most likely loaned out the money to fake companies they created in Russia or other countries and never repaid the loans.

    The new accounting rule IFRS 9 most likely is the EU trying to push the issue with Cyprus banks to see if it cracks and if criminal charges will be filed in the future when APS Holding or one of the major banks is raided and documents seized.

    The article got very long, so I didn’t want to add a backstory to APS Holding, but when you look at the countries they do business in, many have money laundering problems.

    After I do a short augmented article on III.V for Trump and friends, I am going to try and create a 2017 income statement for WG in Part IV with rough estimates of income and expenses from various projects in the company as a whole.

    Spoiler: I believe they made money in 2017, but if not for loot boxes, they would have broke even or had a loss. So expect to see loot boxes all year long in some fashion for other holidays and events.

    Another note. The one year they reported income of roughly 212 million and showed a 206 million expense to only have 6 million profit seems highly suspect.

    Imagine starting a game that takes off beyond your wildest dreams and in the same year you spend almost all of it. In the US buying companies or studios, are not expenses you write off in the year of purchase, but rather capital expenditures, which are amortized over time I find that very fishy to say the least, but perhaps Cyprus lets you do things differently. I have looked at their accounting rules, but I want to take a second look at them for specifically this.

    When I do Part IV I will try to predict where this company is heading in the near future. With the HD changes and subsequent loss of several maps, as only 25 will be introduced as compared to the 39 available now, and higher demand on computers to run the game in many poorer countries, this could be a make or break year for them. They are putting it all on the line.

  10. Thing 1 says:

    Man, don’t take this the wrong way but…I’m glad you’re doing all the leg work on that shit and not me.

  11. Shadora says:

    I don’t mind doing it because it is interesting and I really don’t despise WG or Victor. They have been mismanaged and almost run into the ground with bad decision making and trying to expand into other games and businesses that I feel they don’t fully understand.

    An example is Master of Orion (MOO). 4X games like MOO have faded slightly and if you are the Civilization series, expect most people to play that instead as they are basically the same game in that genre, which has many copy cats.

    I understand the logic. Buy the intellectual property cheap from bankruptcy and build a solid game and maybe sell the intellectual property to someone else for a profit, but its high risk.

    The people making business decisions at the company, like developing HD maps for 3 years while ignoring players requests for new maps is both comical and sad.

    Creating planes and ships is nice, but the players will most likely be from tanks and it will cannibalize that game with an overall small gain after spending all of that money on development and then maintenance.

    I am debating whether or not to write an article on what they should do with tanks, as I have so many ideas that would revive the game and make them a fortune. It would also create a high tier game mode that people would play because there is an incentive. But, it would go far beyond that and create new revenue streams from the existing game. Still on he fence about it and not sure if you would want it on the site to begin with, so I would have to get your permission to do so.

  12. Thing 1 says:

    They did the same thing to Masters of Orion – COMPLETELY IGNORED THE PLAYER BASE.

    Many of the old guard players were shooting great ideas at them, updates they’d like to see, expansion of things they’d been dreaming about…

    What Wargaming did was give them a worthless, dumbed down, lame assed version that is the worst ever so they could bilk money out of initial sales and that was it.

    They wound up losing their ass on it because word QUICKLY got out how horrible it was.

    The robot game was the same.

    Total War Arena is the same as well. That series had already been done to death and lost most of its audience by switching to Sega (who TOTALLY fucked it up) and on to Wargaming who, even though most thought it impossible, fucked it up even more.

    Since 2012, every single thing Wargaming has touched has been a complete, total failure. Everything. They’ve to this day not had one successful thing done with the possible exception of Warships, but they even put the screws to that very, very quickly as well according to Alex and Gomez.

    As for how to fix tanks…shit. I don’t know.

    That would probably take a whole new sub site. It’s not a bad idea actually…make a subdomain and call it Fixing World of Tanks. LOL.

  13. Shadora says:

    “make a subdomain and call it Fixing World of Tanks. LOL.”

    LOL. They are the opposite of Midas, everything they touch turns to shit and by just seeing what they do in WoTs, I understand why.

    They completely ignore their player base as if they were parasites. They treat them with disdain. They think they know better what players want, than the players do.

    They are out of touch with reality and living in a bubble. Everything they do comes from the desk of accountants and other bean counter types who should not be involved in game play decisions.

    The NA promotion team with the Black Friday Feast $909 shit tank sale should have been marched out the door the day this was posted to the website for sale. You could get a better promotion idea hiring a tween who played the game for two weeks.

  14. Shadora says:

    You are right, its pointless. They wouldn’t listen anyway and are quite content running the company into the ground.

  15. Insurrectional_Leftist says:

    In Wargaming’s eyes, or whomever is making these decisions, thinks as Gomez once mentioned to me, “Thinks they are the Smartest Guys in the Room.” They don’t listen because of that mere fact alone. And if that were not enough, their pure avarice and greed stops them, their inability to have much of an ethical bone in their bodies, when it come’s to business practices etc. They’re so interested in grabbing as much cash as quickly as possible, they don’t give a damn about rules, regulations, trading or financial disclosures, banking laws, they treat people like throw away paper towels, and customers like cows they need to be milked every morning, while their being told their eating premium food, while in fact their eating rotted hay with flavoring.

    I noticed in the Long-Read [ And I did take much time reading all of this very slowly ], that this clearly shows Wargaming is responsible for being involved in “Money Laundering”, they are 26.2% owners of the enterprise. Where there is smoke, there is fire. I can’t see how they avoid this fire? I only see legal explanations, in their future at some point on the horizon. They’ll pay for the best lawyers money can buy etc. I’m not saying that they will not find a way to sleaze out of it, they in all probability will, but not without cost?

    Who knows? I could be wrong completely? On both counts.

    – I noticed in the article links { I carefully read those as well }, the one about in Cyprus where they even have a consumer protection office that is trying to look after these matters etc. Yet Trump is trying to internally destroy ours here in the U.S. { my how he works hard for banks, money launderers etc. and protects Russian financial operations etc. }

    -” Executive Order 6102 signed in 1933, which made it illegal to own gold in the US, and if you had any, you would have to bring it in to be converted to US dollars for $20.67 per Troy ounce. You ”
    ^^ My mother and father remember this. They were both born in 1939. My mother remembers it, because her mother told her about it, and everyone talking about it when it occurred as she grew up as a girl. It did in fact happen. And they can do that too. They can impose penalties, and you can get in trouble if your caught with that gold and don’t turn it over [ the government has to pay you, but most people don’t want to part with the Gold ].

    -Also, the Russian Shell Operations, there are so many ways that can be manipulated !! A good financial criminal mind can go to town with that. As posted in the forum area under the forum title:
    NRA being used for Russian Money Laundering for Trump Campaign. This is being looked into already. And it highlights the many points you are making here. This is a very serious TOPIC. People should not dismiss Cyprus, how it operates, and it’s connections to us here in the United States, and how the Russian Government/Putin, and yes — Wargaming is in the matter.

    Those shell companies, firms, are a huge fraudulent embezzling, bank robbing operation, milking people world wide.

    The CEO of Wargaming had better understand what he’s up against, and his bank as well.

    Article well done man. Lot of stuff here. Hats off to you.

  16. Shadora says:


    Thank you for your nice comments about the article and experiences with your parents from an era when the US government took extreme measures to defraud Americans out of gold that had real value because it can and will happen again in our lifetime.

    It already has when you think about the savings and loan crisis, where banks defrauded taxpayers and also during the derivatives crash a few years ago.

    In both instances, banks lobbied for changes in laws to give them more power to regulate themselves and Congress gave it to them because of the obvious financial kickbacks involved (both passive and active).

    Banks were not allowed to speculate with derivatives because of the ease of pretending to lose money from hard to understand transactions which created more value than there were assets, so they could show a higher loss without there being a true loss. It is hard to understand, but that is what happened.

    Russia has been laundering money for a long time and they go from country to country, island to island to do so. Belarus, Iceland, and now Cyprus.

    What is going on in Cyprus is going to take a turn for the worse soon as regulations from the EU look like they are specifically designed to put an end to the ease of sabotaging public banks to run laundering operations out of.

    My prediction is that is 2018 or 2019, there will be a major investigation and sanction against the banks in Cyprus and announcement that they will no longer be part of the EU banking system. Cyprus banks will collapse again when it becomes apparent that there are no real assets there and the banks have been gutted. In order for the bank to do this they would have to be knowingly lying on financial statements and defrauding the bank and its depositors.

    In the derivatives crash in the US as I mentioned above, the banks were allowed to make risky investment because they got approval from Congress after paying everybody off, and they make it all look like they lost money with bad decision-making.

    One thing that can’t be avoided is the collapse of Cyprus banks for whatever reason. The only question is, how long can they keep the smoke and mirrors illusion going?

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