Aviator Studio Founder Teimuraz Ugulava Dies
Georgian entrepreneur Teimuraz Ugulava, founder of Aviator Studio, the Setanta Holding investment group and the Adjara Group holding company, has died at the age of 56. His death was announced by Aviator Studio. The company said Ugulava had been battling a serious illness for a long time.
According to Aviator Studio, City Loft LLC, a company connected to Ugulava, registered the Aviator trademark in Georgia back in 2018. The rights were later transferred to Aviator LLC, and in 2025 that company granted Aviator Studio an exclusive global licence to use the brand for game development and distribution.
Against this backdrop, Ugulava's death is seen not only as a loss for the companies he built, but also as a development in the broader story around Aviator. Court proceedings and brand disputes continue to be part of the conversation, while Aviator Studio itself has said it will continue developing the projects launched by the entrepreneur.
The company emphasized that it intends to continue working on Teimuraz Ugulava's legacy. Judging by that statement, Aviator Studio does not plan to scale back its activity around the brand and will keep advancing the direction that Ugulava considered one of the key priorities.
Olivia Grant is an iGaming news reporter at CasinosInCanada who covers casino industry updates, regulations, and market developments.
