Saudi Arabia’s Savvy Games undergoes a rebrand as it expands global footprint

Saudi Arabia’s Savvy Games undergoes a rebrand as it expands global footprint

Saudi Arabia’s biggest gaming studio has announced a rebrand in a bid to expand its global footprint.

Owned by the country’s sovereign wealth fund, Public Investment Fund, Savvy Games Studios, which announced a $37.8 billion investment last year to transform the kingdom into one of the biggest gaming hubs in the world, is now rebranded as Steer Studios.

According to the company, this strategic move marks a ‘significant step in the game development studio’s growth’, which will further ‘strengthen its market position’.

Since the 2022 investment announcement, the company has made several strategic moves in the gaming sector, including the April acquisition of mobile games studio Scopely for $4.9 billion, known for popular mobile games such as Yahtzee With Buddies, Star Trek Fleet Command, and Scrabble Go.

In February, the gaming studio also announced it was investing $265 million in Chinese tournament operator VSPO, making it the single largest equity holder in the company.

Gaming has grown into a lucrative industry, with a recent Global Games Market Report by video games and gamer data firm Newzoo stating that revenues in the Middle East and Africa are expected to reach $7.2 billion in 2023, with Saudi Arabia emerging as a key player in contributing to the