Saudi Arabia's PIF to transfer gaming Stocks to Savvy Games Group

• The transfer will enable the PIF utilise IPs in the Middle East to support its strategy in diversifying Saudi Arabia's economy

Saudi Arabia's Public Investment Fund (PIF) is looking to transfer all gaming stocks to its subsidiary Savvy Games Group. 

As reported by Zawya, the KSA's PIF will remain a collaborative partner once the transfer is completed. 

The transfer will enable the PIF to utilise intellectual property in the Middle East to support its strategy of diversifying Saudi Arabia's economy by incorporating games and esports entertainment revenue. 

Big moves from Savvy

Savvy Games Group remains focused on making the kingdom a major games hub with a $37.8 billion investment plan. 

The company has made notable deals, including its $4.9 billion acquisition of Scopely in 2023, penning an MoU with Pokémon company Niantic, inviting Asian giants like Nintendo and Capcom to establish offices in the Middle East as it plans to create 600 new games industry jobs in Saudi Arabia. 

Saudi's PIF also holds significant stakes in Japan’s Nintendo (8.26%) and Koei Tecmo (6.6%). Last year, Savvy also invested $265 million in Chinese esports company VSPO and EFG's acquisition of Vindex, an esports infrastructure platform. 

According to CEO Brian Ward, the company now holds an estimated 40% share of the global esports market, positioning it to drive future growth in the sector.