Former type Private Defunct 2014 | Founded 2011 Products Video games | |
Industry Computer and video games Interactive entertainment |
TRC Family Entertainment Ltd was a Maltese video game developer based in Msida, Malta. Founded in 2011 by Malta Enterprise and a private investor, the aim was to develop video games targeting children. Malta Enterprise acquired 15% equity (equivalent to €4 million) together with another €4 million in investment aid. The studio managed to attract professionals from around the world to develop its first video game, Wishingtooth, that was released on January 2014.
After leaving staff unpaid for several months, in September 2014, the studio announced a reduction in workforce of 90%. The closure of TRC Family Entertainment caused a political storm, between the Malta Labour Party and the Nationalist party. The Economy Minister Chris Cardona asked the opposition to shoulder responsibility for investing in TRC despite due diligence exercises uncovering the company’s “links to criminal activity”. In parliament the minister asked the opposition why the directors have given themselves €1.7 million in director fees even though the company did not generate any money.