Aviator Studio founder Teimuraz Ugulava loses battle with illness at 56
Behind every successful brand there is a creator, a person with a family, friends and a story. I was starkly reminded of this as I worked on this story that reports on the passing of Teimuraz Ugulava, founder of Aviator Studio and one of Georgia’s most prominent businessmen who lost his battle with illness at the age of 56 earlier this week.
A private man, a public legacy
Ugulava built Aviator Studio from the ground up, turning an idea into a globally recognised crash-game brand that reshaped player expectations for quick, social casino experiences. Those who worked with him remember a founder who preferred to keep family and personal life away from headlines while letting his work speak for itself.
Messages from home and colleagues
Adjara Group, which Ugulava founded, posted a heartfelt public message on Facebook expressing deep sorrow at their founder’s passing and underlining how much he meant to those close to him in Georgia and the region, stating that his “values, his vision, and his love for Georgia will always remain at the heart of what we do.”
Speaking exclusively with SiGMA News, Giorgi Pruidze, CEO at Setanta Holding and Avaitor Studio, shared a heartfelt tribute to Ugulava:
“Temur was a friend, mentor, and a true visionary.
Very few people have the courage to see opportunities where others see nothing, and even fewer have the determination to turn those ideas into reality. Temur was one of those rare people who did both.
His vision was never limited to one company, one industry, or one achievement. He built worlds. From redefining Georgian and international hospitality, design, and culture through Rooms, Stamba, Fabrika, Holiday Inn and Adjara Group projects, to transforming entertainment and technology with Aviator Studio, Setanta Sports, Setanta Bet, and creating entirely new communities around every idea he believed in.
What was always amazing was the diversity of his imagination, hotels, restaurants, sports, media, technology, gaming, agriculture, lifestyle. completely different fields connected by the same courage to dream bigger and challenge what was considered possible.
Temur didn’t just create businesses. He created opportunities, inspired people, and proved that bold ideas from Georgia could stand proudly on the world stage.
We are grateful for every conversation, every lesson, and every moment of trust. His belief in people, his energy, and his vision will stay with all of us who were lucky enough to walk part of this journey with him.”
Giorgi Pruidze, CEO at Setanta Holding and Avaitor Studio
The dispute in the background
While we pause to remember the man, part of the legacy he leaves behind is complicated. Aviator Studio and SPRIBE are locked in a high-profile trademark and copyright dispute that has played out across multiple jurisdictions. Aviator Studio’s own LinkedIn post announcing the death of its founder says “We will continue to fight for his legacy, for the companies he believed in, and for the people who helped build them alongside him. Every step forward will be taken with deep respect for his memory and with the responsibility of honouring everything he stood for.”
Public social shares and posts hint at the ongoing tension, including a Facebook share by David Natroshvili, founder and CEO of SPRIBE, who appears to reference a slander piece in a Georgian newspaper, where he stresses that in spite of the “manipulative context created by the media”, the relationship that he shared with Ugulava “for many years” was “based on mutual respect”.
In spite of any controversy, what is important now is to honour the memory and impressive legacy that lives on, and it is only fitting to conclude by echoing Giorgi Pruidze’s words. “Very few people have the courage to see opportunities where others see nothing, and even fewer have the determination to turn those ideas into reality. Temur was one of those rare people who did both.“
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