PIF-owned Savvy Games unveils $37.8bn global ambition strategy

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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 and SAR 50 billion to acquire a leading game publisher to become a strategic development partner.

Another SAR 20 billion will be invested in mature industry partners who bring expertise to Savvy’s portfolio, and SAR 2 billion will target industry disruptors to grow early-stage games and esports firms.

“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,” Crown Prince Mohammed bin Salman said in a statement.

Savvy plans to set up 250 games companies in the kingdom, which will create 39,000 jobs and raise the sector’s contribution to Saudi GDP to SAR 50 billion by 2030.

The PIF venture’s five independent subsidiaries will implement the growth strategy, including esports arm EFG, Nine66, an ecosystem developer for game developers and studios, and VOV company that is building gaming and competition venues.