Company Insights Scopely Gaming Scopely Overview Scopely is a US mobile-first video game publisher and developer. Founded in LA in 2013, it was acquired in July 2023 for $4.9 billion by Savvy Games, a wholly owned subsidiary of Saudi Arabia’s Public Investment Fund. A large part of Scopely’s offering is games based on existing franchises, such as The Walking Dead, Wheel of Fortune, WWE wrestling and Star Trek, along with games such as Yahtzee, Scrabble and, notably, Monopoly. Savvy’s purchase of Scopely forms part of the PIF’s aim to diversify the Saudi economy and strengthen the country’s gaming industry. Scopely News Gaming PIF cuts stake in Nintendo as Switch sales slow Saudi Arabia’s Public Investment Fund (PIF) has trimmed its holding in Nintendo, as the Japanese gaming company suffered a drop in sales for its biggest product. The Saudi sovereign wealth fund reduced its stake to 7.54 percent from 8.58 percent, according to a Japanese regulatory filing on Tuesday. The news of the cut comes just […] November 13, 2024 Leisure & Hospitality PIF explores raising stakes in Japanese gaming companies Saudi Arabia’s Public Investment Fund is exploring increasing its stakes in Japanese gaming companies to develop the kingdom as a global centre for gaming. “There are always opportunities,” Prince Faisal bin Bandar Al Saud, vice chairman of Savvy Games Group told Kyodo News, a Japanese news agency. PIF now owns 8.6 percent of Nintendo, after […] October 6, 2024 Video length: 05:07 VIDEO Gaming Saudi Arabia plays the long game in a high-stakes market Saudi Arabia has so far channeled $38 billion into the esports sector through its Public Investment Fund subsidiary Savvy Games Group. This includes high-profile acquisitions such as the $4.9 billion purchase of the Monopoly Go developer Scopely and the $1.5 billion buyout of ESL FaceIt Group, one of the world’s largest esports companies. Critics have […] September 13, 2024 Video length: 04:08 VIDEO Gaming Prince Faisal: growth, not profit, is focus for esports Cost-intensive spectator events are not going to be a “serious profit generator”, Prince Faisal bin Bandar Al Saud told AGBI, as Saudi Arabia concluded the first Esports World Cup last week. The event was watched by more than 500 million people but Prince Faisal, president of the Arab Esports Federation, said: “In esports, sustainability is […] September 4, 2024 Tech Magic Leap seeks additional funds after big PIF investment Saudi Arabia’s Public Investment Fund has invested $750 million into technology and software developer Magic Leap since the beginning of 2023, strengthening its role as the majority owner. This year’s funding of $160 million builds on the sovereign wealth fund’s previous allocation of $590 million in 2023 facilitated through convertible debt arrangements, as detailed in […] August 7, 2024 Tech Saudi gaming company courts giants of Japan and South Korea Japanese and South Korean gaming companies such as Nintendo and Kakao are being targeted by Saudi Arabia’s Savvy Games Group, which wants them to set up in the kingdom to make products aimed at local consumers. Brian Ward, CEO of Savvy, told AGBI: “If locally made Arabic games tap into the ancient lore and history […] June 12, 2024 Markets Saudi US treasuries holdings hit two-year high Saudi holdings of US treasuries surged to a two-year high of $128.1 billion in November from a six-year low of $108.7 billion in June, according to newly released data from the US Department of the Treasury. Treasuries are government debt instruments issued by the Treasury and auctioned by the US Federal Reserve, and are considered […] January 22, 2024 Finance PIF top spender among sovereign funds in 2023 Saudi Arabia’s sovereign wealth fund, Public Investment Fund (PIF), was the top spender worldwide among state-owned investors, the 2024 Global Sovereign Wealth Fund report has revealed, underlining the kingdom’s determination to reallocate its hydrocarbon revenues to diversify and expand its domestic economy. State-owned investors include sovereign wealth funds (SWFs), public pension funds and central banks, […] January 1, 2024 Finance Mena targets US as outbound M&A deals jump 53% Entities from the Middle East and North Africa agreed deals to purchase companies outside the region worth almost $31 billion in the first half of 2023 as cash-rich sovereign wealth funds and other government-related bodies shrugged off rising interest rates to expand their foreign portfolios. The outbound M&A total deal value was $30.6 billion, up […] August 31, 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 Posts navigation
Gaming PIF cuts stake in Nintendo as Switch sales slow Saudi Arabia’s Public Investment Fund (PIF) has trimmed its holding in Nintendo, as the Japanese gaming company suffered a drop in sales for its biggest product. The Saudi sovereign wealth fund reduced its stake to 7.54 percent from 8.58 percent, according to a Japanese regulatory filing on Tuesday. The news of the cut comes just […] November 13, 2024
Leisure & Hospitality PIF explores raising stakes in Japanese gaming companies Saudi Arabia’s Public Investment Fund is exploring increasing its stakes in Japanese gaming companies to develop the kingdom as a global centre for gaming. “There are always opportunities,” Prince Faisal bin Bandar Al Saud, vice chairman of Savvy Games Group told Kyodo News, a Japanese news agency. PIF now owns 8.6 percent of Nintendo, after […] October 6, 2024
Video length: 05:07 VIDEO Gaming Saudi Arabia plays the long game in a high-stakes market Saudi Arabia has so far channeled $38 billion into the esports sector through its Public Investment Fund subsidiary Savvy Games Group. This includes high-profile acquisitions such as the $4.9 billion purchase of the Monopoly Go developer Scopely and the $1.5 billion buyout of ESL FaceIt Group, one of the world’s largest esports companies. Critics have […] September 13, 2024
Video length: 04:08 VIDEO Gaming Prince Faisal: growth, not profit, is focus for esports Cost-intensive spectator events are not going to be a “serious profit generator”, Prince Faisal bin Bandar Al Saud told AGBI, as Saudi Arabia concluded the first Esports World Cup last week. The event was watched by more than 500 million people but Prince Faisal, president of the Arab Esports Federation, said: “In esports, sustainability is […] September 4, 2024
Tech Magic Leap seeks additional funds after big PIF investment Saudi Arabia’s Public Investment Fund has invested $750 million into technology and software developer Magic Leap since the beginning of 2023, strengthening its role as the majority owner. This year’s funding of $160 million builds on the sovereign wealth fund’s previous allocation of $590 million in 2023 facilitated through convertible debt arrangements, as detailed in […] August 7, 2024
Tech Saudi gaming company courts giants of Japan and South Korea Japanese and South Korean gaming companies such as Nintendo and Kakao are being targeted by Saudi Arabia’s Savvy Games Group, which wants them to set up in the kingdom to make products aimed at local consumers. Brian Ward, CEO of Savvy, told AGBI: “If locally made Arabic games tap into the ancient lore and history […] June 12, 2024
Markets Saudi US treasuries holdings hit two-year high Saudi holdings of US treasuries surged to a two-year high of $128.1 billion in November from a six-year low of $108.7 billion in June, according to newly released data from the US Department of the Treasury. Treasuries are government debt instruments issued by the Treasury and auctioned by the US Federal Reserve, and are considered […] January 22, 2024
Finance PIF top spender among sovereign funds in 2023 Saudi Arabia’s sovereign wealth fund, Public Investment Fund (PIF), was the top spender worldwide among state-owned investors, the 2024 Global Sovereign Wealth Fund report has revealed, underlining the kingdom’s determination to reallocate its hydrocarbon revenues to diversify and expand its domestic economy. State-owned investors include sovereign wealth funds (SWFs), public pension funds and central banks, […] January 1, 2024
Finance Mena targets US as outbound M&A deals jump 53% Entities from the Middle East and North Africa agreed deals to purchase companies outside the region worth almost $31 billion in the first half of 2023 as cash-rich sovereign wealth funds and other government-related bodies shrugged off rising interest rates to expand their foreign portfolios. The outbound M&A total deal value was $30.6 billion, up […] August 31, 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
