Saudi Arabia’s Public Investment Fund (PIF) is transferring its $12 billion portfolio of gaming company shares to its specialist subsidiary, Savvy Games Group. The move centralizes stewardship of the Kingdom’s rapidly growing gaming investments under one entity, further solidifying its ambitious plans for the sector.
A Strategic Consolidation
The transfer positions Savvy Games Group at the forefront of the Kingdom’s national gaming and esports strategy. According to a company spokesperson, Savvy is a core component of this strategy, which was first outlined by Crown Prince Mohammed bin Salman in September 2022.
The SAR142 billion ($37.8 billion) strategy aims to establish Saudi Arabia as “the ultimate global hub for the games and esports sector by 2030”. This latest move streamlines the PIF’s extensive gaming assets, placing them directly under the management of the entity tasked with executing this vision.
A Portfolio of Gaming Giants
Following the asset transfer, Savvy Games Group will directly own significant stakes in some of the world’s most prominent gaming publishers. This includes holdings of almost 10 percent in major players such as Japan’s Koei Tecmo Holdings, Nexon Company, and Square Enix Holdings, as well as South Korea’s NCSoft Corporation.
This consolidation follows a series of high-profile moves by Savvy, including its landmark $4.9 billion acquisition of California-based mobile game developer Scopely in 2023.
Maintaining a Hands-Off Approach
Despite the change in stewardship, Savvy has confirmed it has no plans to alter its investment strategy. The company will continue with the PIF’s established hands-off approach, allowing the gaming companies in its portfolio to operate with autonomy while benefiting from the long-term strategic investment.
About Savvy Games Group
Launched and wholly owned by Saudi Arabia’s Public Investment Fund (PIF), Savvy Games Group is a games and esports company with a mission to drive the long-term growth and development of the global gaming sector. Through strategic investments and acquisitions, Savvy aims to build a leading games and esports ecosystem in Saudi Arabia and establish the Kingdom as a premier global hub for the industry.
Source: AGBI
