Esports: Savvy investments made
Staff, 2022-10-31 05:17:21,
The Saudi Esports Federation plans to pour $38 billion into becoming a hub.getty images
Saudi Arabia has entered the worlds of gaming and esports through its Public Investment Fund, making big-time investments in some companies and acquiring others. By “investing to elevate the Kingdom & uplift the world,” as it put it in a recent statement, Saudi Arabia is trying to show that it can be the center of technological advancement, including gaming and esports.
Last month, the Saudi Esports Federation announced it was joining the country’s Vision 2030, with the goal of investing $38 billion to become a global hub in esports and gaming. The PIF, via Savvy Gaming Group, has already invested over a billion dollars in esports and gaming and now owns the largest tournament organization through its ESL Faceit Group. Savvy Gaming Group’s investments include:
ESL Faceit Group
Cost: $1.5 billion
This acquisition brought three of the largest esports tournament organizers under one umbrella, becoming the largest of its kind in the industry. ESL, Faceit and DreamHack (an ESL property) have consistently hosted the world’s most prestigious esports tournaments and leagues, including majors for both Counter-Strike: Global Offensive and Dota 2.
Investment: 8.1% stake
Cost: $1 billion
In June, Savvy Gaming Group invested $1 billion in the Swedish video game and media holding company Embracer Group, which has made a slew of…
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