Significant contribution to the industry - Saudi Arabia invests $38,000,000,000 in video games

Bloomberg reports that Saudi Arabia is going to make a big contribution to the computer games industry. The person interested in the colossal $38,000,000,000 contribution is the Savvy Gaming Group. It has direct investments from the government of Saudi Arabia.

Thus, representatives of this country want to increase their influence in the world of the gaming industry. In addition, another $18,000,000,000 will be allocated for other investments in the world of computer games, but there the kingdom will not be able to make any significant decisions.

Saudi Arabia has plans to create some 250,000 gaming companies that will employ more than 39,000 employees from the gaming industry world.

Such a move will allow the authorities of Saudi Arabia to diversify their funds in some way and avoid large rash losses and high risks. Such a campaign was launched as part of the Vision 2030 program.

Various experts believe that such a decision is dubious, but consider this move an attempt to “cleanse the karma” of Saudi Arabia regarding human rights.

Savvy Gaming Group is known for acquiring tournament operator ESL Gaming and esports platform FACEIT in early 2022. Various sources indicate a large amount of such a purchase, which is estimated at approximately $1,500,000,000. Later, Savvy Gaming Group made a number of investments in gaming companies such as Embracer Group, Electronic Arts, Take-Two, Activision Blizzard and others. These contributions totaled $1,050,000,000.