(Reuters) – Motorsport Games Inc said on Wednesday the sanctions against Russia, in response to the country’s invasion of Ukraine, could delay the release of the racing game developer’s future titles.
Shares of the Miami, Florida-based company, which is known for “NASCAR” series and “KartKraft”, fell nearly 1% in early trading.
Motorsport Games said a significant portion of its development staff is based in Russia and the sanctions could impact its ability to use Russian staff for future game development.
The company did not immediately respond to a Reuters query on the number of employees working out of Russia.
“Prolonged unrest, intensified military activities or more extensive sanctions impacting the region could have a material adverse effect on our operations, results of operations, financial condition, liquidity and business outlook,” the company said in a regulatory filing.
A number of companies including Apple, Alphabet’s Google and Microsoft have taken action to limit, put on hold or exit business activities in Russia following a wave of sanctions imposed after Moscow’s invasion of Ukraine.
(Reporting by Tiyashi Datta in Bengaluru; Editing by Shailesh Kuber)
