Company Insights Savvy Games Group Tech Savvy Games Group News Analysis Tech World Cup’s brimming prize pot to revive Saudi esports Saudi Arabia will offer a record-breaking $60 million prize pool for its upcoming Esports World Cup, at a time when the kingdom is facing challenges attracting foreign investments to the sector. The amount of prize money for this summer’s event breaks the previous record of $45 million set by esports festival Gamer8 in 2023. Saudi […] April 19, 2024 Giga-projects Qiddiya to host first gaming district in Saudi Arabia The Qiddiya giga-project, near Saudi Arabia’s capital Riyadh, will host the first multi-use gaming and esports district in Saudi Arabia. The kingdom is striving to become a global gaming and sports centre by 2030. The upcoming gaming and esports district, which is claimed to be the first in the world, is part of the launch […] December 15, 2023 Tech Dubai to create 30,000 jobs in gaming Dubai has launched a plan to create 30,000 jobs in the gaming industry by 2033. Its Program for Gaming 2033 aims to increase gaming’s contribution to the digital economy to $1 billion within a decade. The emirate’s Crown Prince Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum said the strategy also aims to position it […] November 3, 2023 Banking & Finance PIF-owned Savvy to acquire US gaming firm for $4.9bn Savvy Games Group, a games and esports firm wholly owned by the Saudi sovereign Public Investment Fund (PIF), has agreed to buy California-based Scopely, a maker of mobile games, for $4.9 billion. Scopely has a track record of developing and publishing various games, particularly on mobile platforms. The company’s portfolio of free-to-play franchises includes Star […] April 6, 2023 Banking & Finance Saudi PIF raises stake in Japanese film company Toei to 6% Saudi Arabia’s Public Investment Fund (PIF) has increased its stake in Toei Company Limited to six percent, a filing showed on Friday, reflecting the sovereign wealth fund’s growing exposure to the Japanese media industry. PIF’s stake in the Tokyo-based film and animation firm has risen from five percent to 6.03 percent, Reuters reported, citing the […] March 3, 2023 Banking & Finance Saudi sovereign fund raises Nintendo stake to 8.26% Saudi Arabia’s Public Investment Fund (PIF) raised its stake in Nintendo Co to 8.26 percent from 7.08 percent, a regulatory filing showed, the second stake increase disclosure in a week following one on Wednesday. The sovereign fund first acquired a five percent stake in the company in May 2022 and increased it to 6.07 percent […] February 19, 2023 Banking & Finance PIF-owned unit buys $265m stake in Chinese gaming company Chinese esports outfit VSPO, backed by Tencent Holdings Ltd, said Saudi Arabia’s sovereign wealth fund has bought a stake worth $265 million in the company, as the kingdom continues its push in the gaming market. Saudi’s Public Investment Fund (PIF) will take a stake in VSPO through gaming unit Savvy Games Group and become the […] February 17, 2023 Economy PIF-owned Savvy Games unveils $37.8bn global ambition strategy Saudi Arabia’s Savvy Games Group, wholly-owned by the Public Investment Fund (PIF), will invest SAR 142 billion ($37.8 billion) across four programmes that aim to make the kingdom a global hub for gaming by 2030. The initiatives will include SAR 70 billion to take several minority stakes in companies that support Savvy’s game development agenda […] September 30, 2022 Posts navigation Previous 1 2
Analysis Tech World Cup’s brimming prize pot to revive Saudi esports Saudi Arabia will offer a record-breaking $60 million prize pool for its upcoming Esports World Cup, at a time when the kingdom is facing challenges attracting foreign investments to the sector. The amount of prize money for this summer’s event breaks the previous record of $45 million set by esports festival Gamer8 in 2023. Saudi […] April 19, 2024
Giga-projects Qiddiya to host first gaming district in Saudi Arabia The Qiddiya giga-project, near Saudi Arabia’s capital Riyadh, will host the first multi-use gaming and esports district in Saudi Arabia. The kingdom is striving to become a global gaming and sports centre by 2030. The upcoming gaming and esports district, which is claimed to be the first in the world, is part of the launch […] December 15, 2023
Tech Dubai to create 30,000 jobs in gaming Dubai has launched a plan to create 30,000 jobs in the gaming industry by 2033. Its Program for Gaming 2033 aims to increase gaming’s contribution to the digital economy to $1 billion within a decade. The emirate’s Crown Prince Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum said the strategy also aims to position it […] November 3, 2023
Banking & Finance PIF-owned Savvy to acquire US gaming firm for $4.9bn Savvy Games Group, a games and esports firm wholly owned by the Saudi sovereign Public Investment Fund (PIF), has agreed to buy California-based Scopely, a maker of mobile games, for $4.9 billion. Scopely has a track record of developing and publishing various games, particularly on mobile platforms. The company’s portfolio of free-to-play franchises includes Star […] April 6, 2023
Banking & Finance Saudi PIF raises stake in Japanese film company Toei to 6% Saudi Arabia’s Public Investment Fund (PIF) has increased its stake in Toei Company Limited to six percent, a filing showed on Friday, reflecting the sovereign wealth fund’s growing exposure to the Japanese media industry. PIF’s stake in the Tokyo-based film and animation firm has risen from five percent to 6.03 percent, Reuters reported, citing the […] March 3, 2023
Banking & Finance Saudi sovereign fund raises Nintendo stake to 8.26% Saudi Arabia’s Public Investment Fund (PIF) raised its stake in Nintendo Co to 8.26 percent from 7.08 percent, a regulatory filing showed, the second stake increase disclosure in a week following one on Wednesday. The sovereign fund first acquired a five percent stake in the company in May 2022 and increased it to 6.07 percent […] February 19, 2023
Banking & Finance PIF-owned unit buys $265m stake in Chinese gaming company Chinese esports outfit VSPO, backed by Tencent Holdings Ltd, said Saudi Arabia’s sovereign wealth fund has bought a stake worth $265 million in the company, as the kingdom continues its push in the gaming market. Saudi’s Public Investment Fund (PIF) will take a stake in VSPO through gaming unit Savvy Games Group and become the […] February 17, 2023
Economy PIF-owned Savvy Games unveils $37.8bn global ambition strategy Saudi Arabia’s Savvy Games Group, wholly-owned by the Public Investment Fund (PIF), will invest SAR 142 billion ($37.8 billion) across four programmes that aim to make the kingdom a global hub for gaming by 2030. The initiatives will include SAR 70 billion to take several minority stakes in companies that support Savvy’s game development agenda […] September 30, 2022
