Saudi Arabia sights to be ‘global hub’ for gaming and esports
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Savvy Games Group, owned by Saudi Arabia's Public Investment Fund, is pursuing stronger partnerships with Japanese game developers like Nintendo and Capcom. The goal is to expand the Middle East gaming market and establish Saudi Arabia as a global gaming and esports hub. Crown Prince Mohammed bin Salman and Prince Faisal bin Bandar bin Sultan Al-Saud are leading these efforts, focusing on localizing Japanese intellectual properties for the region.
During a trip to Tokyo in late May, Prince Faisal met with representatives from several major Japanese gaming companies, including Nintendo, Bandai, Capcom and Konami Group, to discuss collaboration. The plan includes encouraging these companies to set up offices in the Middle East and exploring deals for Savvy's esports unit.
The PIF already holds 8% of Nintendo and 6% of Capcom, according to financial reports from March 2023. Additionally, the fund acquired mobile game developer Scopely for $4.9 billion in 2023 and two esports event companies for $1.5 billion in 2022. These moves aim to bolster Saudi Arabia's gaming industry and enhance its global presence.