How Saudi Arabia’s Billions Are Rewriting the Video Game Industry — EA, Evo, Niantic and More

Saudi Arabia has spent billions buying stakes in game companies, esports organizers, and related entertainment ventures — and those purchases are changing who owns what in the industry.

1. What is the Public Investment Fund?
2. What is Savvy Games Group?
3. Recent acquisitions and stakes
4. Why Saudi Arabia is investing in games
5. Controversies and criticisms
6. What this means for the industry

What is the Public Investment Fund?

The Public Investment Fund (PIF) is Saudi Arabia’s sovereign wealth fund, a state-owned investment vehicle created in 1971. Today it is overseen by Crown Prince Mohammed bin Salman, who serves as the fund’s chairman. Moreover, the Sovereign Wealth Fund Institute estimates the PIF manages around $925 billion in assets; for details see this profile.

What is Savvy Games Group?

Savvy Games Group was launched by the PIF in 2021 to focus specifically on games and esports. The group says its mission is to drive long-term growth in the sector through acquisitions, investments, and commercial projects, and it aims for leadership in the games industry by 2030.

Brian Ward is the CEO of Savvy Games. Additionally, Mohammed (aka MBS), the crown prince of Saudi Arabia and supposedly a “massive gamer”, serves as the PIF’s chairman. The PIF’s own page describes Savvy Games’ role and goals; you can read more on this PIF page.

Recent acquisitions and stakes

Investment moves by the PIF and its related entities have been extensive and varied. Most recently, Electronic Arts announced a $55 billion deal to go private with investors including Silver Lake, Affinity Partners, and the PIF as part of the group involved in the transaction.

Beyond EA, the PIF and its arms have acquired or taken stakes in many parts of the gaming ecosystem. For example:

• The PIF (via Savvy Games and Scopely) acquired Niantic, the studio behind Pokémon Go.
• Savvy Games owns ESL FACEIT Group, the merged esports organizer.
• The Qiddiya Investment Company, which is owned by the PIF, purchased the Evolution Championship Series (Evo).
• The fund has also taken stakes or positions in publishers and developers including Activision Blizzard, Capcom, Embracer Group, Nexon, Nintendo, and Take-Two Interactive.
• Saudi entities own SNK outright; some players have suggested that ownership influenced elements of SNK’s recent game Fatal Fury: City of the Wolves, as reported by this NPR piece.

Why Saudi Arabia is investing in games

The primary, stated reason is economic diversification. Saudi Arabia’s economy is heavily dependent on petroleum, which historically accounts for a large share of GDP. Consequently, the PIF is investing in sectors that can help the country move beyond oil.

More concretely, the PIF cites growth potential in games: it expects global gaming revenues to surpass $300 billion by 2028 and has set national targets. For instance, the Qiddiya Esports and Gaming District — part of a wider Qiddiya entertainment project near Riyadh — aims to attract 10 million visitors a year by 2030 and to incubate 30 local game development companies.

Additionally, Saudi Arabia’s National Strategy for Gaming and Esports lays out goals to incubate 250 companies, create tens of thousands of jobs, and contribute roughly $13.3 billion to GDP, according to PIF statements. In short, investment in games fits a wider plan to build tourism, entertainment, and tech sectors.

Controversies and criticisms

These investments have sparked debate. Critics compare such moves to sportswashing — using sports and entertainment deals to improve a country’s global image. For background on that term and how it’s used, see this explainer.

Concerns about reputation are tied to Saudi Arabia’s record on human rights and high-profile incidents, including the U.S. intelligence conclusions about the 2018 killing of journalist Jamal Khashoggi; further reporting is available in this New York Times article. Those factors have made some players, developers, and observers wary of deeper ties between major gaming brands and Saudi-backed entities.

What this means for the industry

Factually, the PIF’s activity has increased consolidation and capital flows into gaming and esports. Large-scale funding can provide studios and organizers with resources for growth, while ownership changes can shift strategic priorities at some companies.

However, ownership and investment patterns are public facts: the PIF and its affiliates now appear in the cap tables or boards of multiple major firms and events. As a result, discussions about influence, creative independence, and governance are likely to continue — and they will be matters for investors, regulators, creators, and players to track.