To PC gamers, I just found out what causes the problem with the game not launching. It's the in-game graphic settings. Here is what I did to fix it.
1. Uninstalled the game using Revo Uninstaller (including removal of all files and registry entires remaining)
2. Installed the game as Friend Pass (this one was launchable anyway) and lauched it
3. In graphic settings I set everything to default (reset)
4. Exit friend pass version
5. Started the normal (paid) version of a game.
Works fine. So this means one of the graphic settings causes the issue. My investigation says, it's Texture Quality - Ultra.
Please let me know if this fixes the problem for the rest of you.
Have a good Sunday!