the Saudi Arabia Public Investment Fund (BIPfor the close friends) had already been noticed in 2021 by buying 3.3 billion dollars of shares in EA, Activision and take two. The company headed by Prince Mohammed bin Salman and based in Riyadh now owns a branch entirely dedicated to video games, Savvy Games Groupheaded by the former Senior Vice President ofActivision Worldwide Studios Brian Wardand we are obviously going to hear a lot about it in the coming months.
Reuters and news agency SPA indeed report that Savvy plans to invest 142 billion riyals (about 38.74 billion euros) in the video game industry : 70 billion riyals (about 19.10 billion euros) would go towards minority stakes in established companies and 50 billion riyals (13.64 billion euros) towards the complete acquisition of “a game publisher to become a strategic development partner”.
20 billion riyals would go to industrial partners and industry experts to accelerate the group’s growth and 2 billion to “the development of video game and e-sport companies in the start-up phase”. The project is to own more than 250 studios and 39,000 employees in Saudi Arabia by 2030 and generate a turnover of more than 50 billion riyals.
“The Savvy Games Group is part of our ambitious strategy to make Saudi Arabia the premier global hub for the gaming and esports industry by 2030,” Crown Prince Mohammed bin Salman said. , according to the SPA. “We are harnessing the untapped potential of the esports and gaming sector to diversify our economy, drive innovation in the sector and further develop esports entertainment and competitive offerings across the Kingdom. »
What to shade Xbox, Tencent, Embrace And the other companies hungry for studios right now? Nothing certain at the moment, wanting to buy a large publisher is not easy even with sufficient funds, but it is now clear that Savvy is likely to be a major player in video games in the years to come.
| auxance Editor | ||
| Favorite editor of your favorite editor since 2009, passionate about music that makes boom boom, follower of comic series of all kinds. I’ve played a little too much Pokémon in my life. | ||
| Follow me : |  | |
