logo80lv
Articlesclick_arrow
Research
Talentsclick_arrow
Events
Workshops
Aboutclick_arrow
profile_loginLogIn

Saudi Arabia's Savvy Gaming Group Acquires $1bn Stake in Embracer

The investment equates to approximately 8.1% of the company's shares.

Ghostrunner

Saudi Arabia has made another major investment in the video game industry acquiring a $1 billion stake in Swedish video game and media holding Embracer Group. The investment equates to approximately 8.1% of the company's shares.

The shares were purchased through Savvy Gaming Group, a games and esports-focused subsidiary of Saudi Arabia's Public Investment Fund (PIF) chaired by crown prince Mohammed bin Salman.

"Savvy Gaming Group has committed to invest heavily in the games and esports industry and to materially strengthen the global games community," said Savvy Gaming Group's CEO Brian Ward. “This investment in Embracer Group is a starting point for a long-term commitment to the company.

Valheim

"Our relationship with Savvy Gaming Group will enable us to set up a regional hub in Saudi Arabia, from which we will be able to make investments across the MENA region, either organically, via partnerships, joint ventures, or via acquisitions of companies led by strong entrepreneurs," Embracer founder and CEO Lars Wingefors said.

The purchase of a $1 billion stake in Embracer Group is another country's move to expand its investments in the game industry. Earlier, PIF also acquired a 5.01% stake in Nintendo becoming the company's fifth-largest shareholder.

You can learn more about the deal here. Also, don't forget to join our new Reddit pageour new Telegram channel, follow us on Instagram and Twitter, where we are sharing breakdowns, the latest news, awesome artworks, and more.

Error
(2000-0001)

Join discussion

Comments 0

    You might also like

    A Week After "Basically Announcing" Minecraft 2, Notch Basically Cancels It

    Instead, he and his team will focus on the previously-announced retro-style roguelike.

    Discord Gets Sued Over Alleged Anti-Consumer Practices

    The plaintiffs claim the platform has intentionally made it overly difficult to cancel subscriptions.

    Rumor: Possible Release Date for Grand Theft Auto 6 Revealed

    A video game store from Uruguay appears to have disclosed the launch date for the gaming industry's most anticipated title.
    • Landscape Auto Material for UE4
      by VEA Games

      Landscape Auto Material is a flexible autopainting material for Unreal Engine 4 Landscape component. When you are drawing the topology of your landscape, proper material layers are drawn automatically!

      Error
      (2000-0001)
    • Abandoned Apartment Props
      by Dekogon

      This project includes assets, maps, materials, Blueprints, and effects created in the Unreal Engine. Each asset was created for realistic AAA quality visuals, style, and budget.

      Error
      (2000-0001)

    We need your consent

    We use cookies on this website to make your browsing experience better. By using the site you agree to our use of cookies.Learn more

    ×