Saudi Arabia is Investing Billions in Gaming
One of the main objectives of Savvy is to grow the esports presence in the Middle East and build gaming studios that produce games for a global audience. Back in January, the company announced that Savvy Gaming Group is buying ESL and Faceit for $1.5 billion. Then in June, the company announced a $1 billion investment into Embracer Group. In the latest announcement, the company is putting up $37.8 billion more into the gaming sector.
According to the announcement, $13 billion is allocated toward acquiring and developing "a leading game publisher to become a strategic development partner." Another $18 billion will go to minority stake investments, along with $5 billion in mature industry partners, and the remainder towards early-stage games and esports companies. The announcement goes on to state that Savvy's overall efforts expect to put up 250 game companies and create 39,000 jobs by 2030.
Evidently, Savvy Gaming Group isn't the only Saudi Arabian entity making moves in the gaming sector. Back in April, SNK Corporation came under the ownership of Saudi Arabian Crown Prince Mohammad bin Salman via a notable investment from the Electronic Gaming Development Company. A month later, the kingdom became the fifth-largest shareholder of Nintendo following a 5.01 percent stake acquisition in the company. Now, the recent $37.8 billion investment suggests that the Saudi Arabian government may be looking to ramp up its stake and influence in the industry even further.
But critics view Saudi Arabia's gaming ambitions as part of the kingdom's effort to cover up human rights violations such as its involvement in the Yemeni civil war. Further, the Crown Prince, who chairs Savvy's Board of Directors, has been implicated in the assassination of journalist Jamal Khashoggi in 2018. Time will tell how Saudi Arabia will continue to navigate the gaming sector while facing high scrutiny from the international community over its actions. Regardless, it doesn't appear that neither Savvy Gaming Group nor the kingdom will slow down its push into the industry.
Posted:
Related Forum: Gaming Discussion
Source: https://gamerant.com/saudi-arabia-investing-billions-gaming/
Related Articles
Comments
FrogPosted:
May their debut into the world of gaming be as successful as that stupid wall they are building... xD
Latest Downloads
- 01. [EU] CARX DRIFT RACING ONLINE - PROGRESS SAVE 6 SP DUO (CUSA15633)(1)
- 02. Fallout Shelter Modded Save PC(0)
- 03. Remember Me: SaveGame (The Game done 100%)(0)
- 04. The Long Drive: SaveGame (American pickup)(0)
- 05. Goemon's Great Adventure (US / NTSC) - Nintendo 64 Game Save(1)
- 06. The Long Drive: SaveGame (blue VW Beetle)(0)
- 07. Deadly Creatures | Complete Savegame(0)
- 08. Driift Mania | 100% Savegame(0)
- 09. LostWinds: Winter of the Melodias | 100% Savegame(0)
- 10. Lost Winds | 100% Savegame(0)
- 11. Mega Man 10 | Savegame(0)
- 12. Mega Man 9 | Savegame(0)
- 13. LASTFIGHT Secret character unlocked(1)
- 14. PC Horizon Forbidden West Complete Save(13)
- 15. Castlevania: The Adventure ReBirth | 100% Savegame(0)
Latest Tutorials
- 01. The Redress Of Mira 100% Walkthrough | Trophy & Achievement(420)
- 02. Russian Pinocchio Quick Trophy Guide(511)
- 03. Venatrix Quick Trophy & Achievement Guide(471)
- 04. Call of the Sea 100% Platinum Walkthrough(624)
- 05. Wire Lips 100% Platinum Walkthrough(586)
- 06. The Expanse 100% Platinum Walkthrough | Trophy & Achievement(535)
- 07. Doctor Who: The Edge of Reality - PS4 Platinum P/Thru(463)
- 08. Doctor Who:The Lonely Assassins - 100% Guide(438)
- 09. DAYMARE 1998 PS4 - Full game 100% TROPHY WALKTHROUGH(398)
- 10. Stray Platinum Walkthrough | Trophy & Achievement Guide(420)
- 11. Raji: An Ancient Epic | Complete Gameplay Walkthrough(560)
- 12. Corpse Killer: 25th Anniversary Edition - Longplay(511)
- 13. Song of Horror: Complete Edition Gameplay Walkthrough(378)
- 14. Remoteness 100% All Trophies Walkthrough(510)
- 15. Detective Inspector Mysterious Clues Platinum Walkthrough(462)
"Saudi Arabia is Investing Billions in Gaming" :: Login/Create an Account :: 4 comments