Thndr Claps » Saudi Claps » Funds 🤑 » Savvy intends to invest SAR 142 billion in games 🎮
The ClapCrown Prince Mohammed bin Salman, Chairman of the BoD of Savvy Games Group revealed the company’s strategy to transform KSA into a global center for the gaming and esports sector by 2030.The DeetsSavvy, a subsidiary of the Public Investment Fund (PIF), intends to invest SAR 142 billion in initiatives and programs aimed at making KSA a global center for games.InvestmentsSAR 70 billion will be used to buy minority stakes in companies that support the company’s plans for the esports and game development sector SAR 50 billion will be used to acquire one of the best game publishing and development companies to become an effective strategic partner.SAR 20 billion will be allocated for reputable companies to participate in the sector.SAR 2 billion will be invested in innovative emerging companies.Why this MattersSavvy seeks to establish 250 gaming companies in KSA, providing 39,000 jobs and which will also raise the sector’s contribution to the GDP to SAR 50 billion by 2030.
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