Saudi Arabia’s Savvy Gaming Group aims to become the ultimate global gaming and esports hub by the end of the decade. Just that !
Saudi Arabia wants to become a major player in video games. Regularly the Savvy Gaming Group, owned by the country’s Public Investment Fund (PIF), comes to bite into players in the industry. Not satiated by the shares already acquired, the group announces that it will invest nearly tens of billions of dollars in this sector. The objective, bought a large publisher already well established.
Saudi Arabia wants to buy a big publisher
Saudi Arabia wants to strengthen its position in the video game industry. The investment group gaming of the country plans to spend nearly $37.8 billion in this sector. In detail, 18.6 billion will be allocated to minority stakes in game developers and publishers. A strategy similar to that operated with Nintendo, Capcom or even Embracer Group. The idea would therefore only be to nibble on a few portions here and there.
At the same time, 13.3 billion will be entirely devoted to the purchase of a ” leading game publisher “. A substantial sum which can indeed allow him to get his hands on an actor who is already well established. It is recalled that Microsoft had acquired Bethesda for 7.5 billion dollars. Bungie meanwhile joined the PlayStation stable for $3.6 billion. The rest of this investment fund will be devoted 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 taken shares in some large publishers such as Electronic Arts, Take-Two or Nexon.