As part of a strategy that lasts through 2030, the Kingdom of Saudi Arabia intends to invest 142 billion riyals ($38 billion) in the electronic gaming industry.
The strategy unveiled by Saudi Crown Prince Mohammed bin Salman today consists of four initiatives covering various investment and acquisition types. These initiatives include the allocation of 50 billion riyals to acquire one of the top game publishing and development companies in order to turn them into a valuable strategic partner and a 70 billion riyal investment to buy a number of stakes.
Minority in significant businesses that support the group’s plans for the e-sports industry and game development, as well as the injection of two billion riyals by the group into a variety of investments in cutting-edge, emerging businesses with the goal of developing games and e-sports. The fourth programme entails an investment of 20 billion riyals to take part in reputable businesses in the sector that are in line with the group strategy.
Five firms from the Savi Group of electronic games, which Prince Mohammed founded and chairs a commission to promote the industry, will carry out the plan.
The first company is (Nine66), which is concerned with developing an integrated work system to empower game developers, and the other four are (EFG), the arm of the Savi Group specialised in esports, (VOV), company, Specialized in building halls for games and competitions, developing skills, and providing a healthy environment for players and practitioners. (EFG) was established after the company acquired the (ESL) and (FACEIT) groups.
The Savi Games Fund, which focuses in investing in top international firms that publish and produce video games, was established as part of the group’s goal to enable the formation of regional headquarters in the Kingdom. .
Up until 2030, Saudi Arabia intends to invest $38 billion in the electronic gaming industry.
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