Saudi Arabia's Savvy Games Group today outlined an investment plan that will see it commit SAR 142 billion ($37.8 billion) to build the country's presence in the global games industry, including SAR 50 billion ($13.3 billion) earmarked "for the acquisition and development of a leading game publisher to become a strategic development partner."
Savvy Games Group is 100% owned by the Saudi Arabia's Public Investment Fund (PIF), and has Crown Prince Mohammed bin Salman serving as the chairman of its board of directors.
"Savvy Games Group is one part of our ambitious strategy aiming to make Saudi Arabia the ultimate global hub for the games and esports sector by 2030," Prince Mohammed said. "We are harnessing the untapped potential across the esports and games sector to diversify our economy, drive innovation in the sector and further scale the entertainment and esports competition offerings across the Kingdom."
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