Saudi PIF-owned Savvy Games Group unveils $38bn worth investment strategy

Saudi PIF-owned Savvy Games Group unveils $38bn worth investment strategy

Saudi Arabia’s games and esports company Savvy Games Group has launched its new investment strategy, as the kingdom intends to develop its gaming and esports industry.

Savvy Games, which is owned by Saudi Arabia’s Public Investment Fund (PIF), is planning to invest $38 billion (142 billion riyals) across four programs each with specific objectives.

The Group was launched earlier this year, in line with the PIF’s 2021-2025 strategy to drive innovation in strategic sectors including entertainment, leisure, and sports.

According to the statement, Savvy Games will use $13 billion (50 billion riyals) to buy and develop a leading game publisher, and $19 billion (70 billion riyals) to make investments in companies that will help grow Savvy Games.

“A total of $5 million (2 billion riyals) will be invested in early-stage gaming and esports companies, and the remaining $5 billion (20 billion riyals) in bigger businesses,” the company added.

Crown Prince Mohammed bin Salman, who also serves as chairman of the group’s board, said that “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. We are harnessing the untapped potential across the esports and games sector to diversify