LogInThe country is trying to get a seat among the dominating forces in the field.
Saudi Arabia has spent nearly $8 billion on stakes in gaming companies around the world in the past 18 months trying to become a dominant force in the industry, according to a report by Financial Times.
The deals have been led by Savvy Games Group, which has invested in an esports agency VSPO as well as Embracer Group and is planning to acquire a mobile games studio Scopely.
Savvy is owned by Saudi Arabia's $650bn Public Investment Fund, with Crown Prince Mohammed bin Salman, who is a chairman of the Group, planning to transform the kingdom into "the ultimate global hub for the games and esports sector" in seven years.
The kingdom wants to home 250 gaming companies and studios and create 39,000 jobs, with the game industry contributing 1% to the gross domestic product by 2030.
More deals are expected to emerge in the near future, but for now, China remains the leader of the industry.
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