Saudi Arabia’s Savvy Gaming Group aims to become the ultimate global gaming and esports hub by the end of the decade. only that !
Saudi Arabia wants to become a major player in video games. Regularly, Savvy Gaming Group, owned by the country’s Public Investment Fund (PIF), comes to bite gamers in the industry. Not fed up with the shares already acquired, the group announces that it will invest almost double-digit billions in this sector. The target bought a large, already well-established publisher.
Saudi Arabia wants to buy a big publisher
Saudi Arabia wants to strengthen its position in the video game industry. The investment group To play The country plans to spend nearly $37.8 billion in this sector. Specifically, 18.6 billion flow into minority stakes in game developers and publishers. A strategy similar to that of Nintendo, Capcom or even Embracer Group. So the idea would be to just nibble a few portions here and there.
At the same time, 13.3 billion will be fully invested in the purchase of a ” leading game publisher “. A significant sum that may actually allow him to get his hands on an already established actor. It is recalled that Microsoft had acquired Bethesda for $7.5 billion. Bungie meanwhile rose for $3.6 billion dollars into the PlayStation stables, with the remainder of this investment fund dedicated to emerging studios and eSports structures.
« Savvy Games Group is part of our ambitious strategy to make Saudi Arabia the ultimate global gaming and esports hub by 2030 said Prince Mohammed bin Salman. The official SPA news agency reports that he endorses all significant placements. It is recalled that the structure has already acquired shares in some major publishers such as Electronic Arts, Take-Two or Nexon.
