Saudi government invests $37 billion in gaming industry

Saudi Arabia has been trying to take a strong position in the gaming industry for several years and their intentions are very serious.

Thus, Crown Prince Mohammed bin Salman announced that the government will allocate $ 37.8 billion to invest in the gaming business. It was noted that $ 13 billion of these funds will be spent on the purchase of a major publishing house. In addition, the prince plans to open 250 studios in his country to develop video games.

The list of candidates for the purchase has not yet been disclosed, but we can assume that it will be companies such as Electronic Arts or Ubisoft, because they are experiencing financial difficulties and would be interested in a deal with Saudi Arabia.

Flashback 

Saudi Arabia has been investing in leading game companies for several years. In February 2021, for example, the Saudis bought shares in Take-Two Interactive, Activision Blizzard and Electronic Arts. The most recent transaction was the investment of $ 1 billion in the Swedish holding company Embracer Group. In addition, in the winter of 2022, the country acquired two major organizers of cybersport competitions: ESL and Faceit.