Saudi Arabia is making significant strides to achieve their Vision 2030 project goals, and investing in the gaming sector has been a key part of the process.

Several recent developments in the gaming sector could shape the future of the industry and further consolidate the Kingdom’s stature as a global hub.

With that in mind, read on as we take a look at some of the latest gaming industry developments in Saudi Arabia.

Saudi PIF Moves $12bn Gaming Stake to Savvy Group

Saudi Arabia’s Public Investment Fund (PIF) recently moved approximately $12bn worth of gaming-related shares into its own subsidiary Savvy Games Group.

Savvy was created in 2021 as part of Saudi Arabia’s effort to diversify its economy and invest in sectors outside of oil and gas.

The company subsequently made headlines by building an impressive portfolio that includes buying stakes in developers, publishers and eSports companies across the world.

Savvy has acquired gaming giants such as Scopely, the makers of Monopoly Go. While the game became a massive hit, some of Savvy’s other investments have failed.

Intriguingly, Saudi-backed capital has positively impacted the technology, infrastructure and digital ecosystems that support one of gaming’s associated sectors.

Many of the best online casinos in Saudi Arabia featured on the saudia-online.com comparison platform are supported by local technologies funded by the PIF.

Their decision to move their gaming holdings directly under Savvy will make them easier to manage and give them a stronger voice in the industry.

Once the transfer is done, Savvy is expected to hold around 10 percent stakes in Koei Tecmo, NCSoft, Nexon and Square Enix. It will also take control of holdings in Nintendo, Bandai Namco and Take-Two Interactive.

Potential PIF-Backed EA Acquisition Stuns the Gaming World

Saudi Arabia’s proposed $55 billion acquisition of Electronic Arts (EA) made global headlines. If they finalise the deal, the PIF would own more than 93% of one of the biggest publishers in the world.

EA has done its best to get ahead of the blockbuster acquisition by promising fans of popular game The Sims that its values will remain unchanged whether the sale goes through or not.

The Sims is famous for encouraging creativity, inclusion and freedom of self-expression, so many players are sceptical about the imminent change in ownership.

They view the game as a safe space to explore different identities and lifestyles, and there is a decent chance that freedom would be threatened if the PIF ran the show.

The deal has not gone through yet. EA shareholders have approved the proposed $55bn acquisition of the video game giant by Saudi Arabia and private equity firms.

However, the United States government has yet to sign off on what would be the largest corporate buyout in history. But there is a general feeling that it’s only a matter of time until they get on board.

Some well-known creators have already cut ties with EA ahead of the takeover. They felt their values did not match the conservative reputation of the potential new owners.

While EA has moved quickly to reassure fans of continuity, it remains to be seen how the PIF’s imminent acquisition will impact other games across their portfolio.

Building the Next Generation of Saudi Game Studios

Saudi Arabia’s latest development with NEOM is another clear sign of their determination to be recognised as a global hub for gaming and entertainment.

NEOM’s Level Up gaming accelerator is an ambitious programme that helps local game developers grow their skills and businesses.

The programme has now chosen five Saudi game studios to receive funding and months of hands-on support as part of its annual flagship gaming accelerator.

Powered by NEOM Gaming, Level Up is the longest-running gaming accelerator in Saudi Arabia. It is also a key part of the National Gaming & eSports Strategy initiative in Saudi Vision 2030.

The announcement makes the most recent cycle Level Up’s biggest yet, as it also comes with an initial mentorship phase supporting a further 18 studios.

Experts believe that the gaming sector will contribute over SAR 50 billion ($13.3bn) to the national gross domestic product (GDP) over the next four years.

The accelerator is designed to cater to Saudi start-ups and set them up for long-term success through a tailored programme addressing the unique challenges of running a game studio.

The selection process for the Level Up programme was far from straightforward. More than 23 teams were initially in the mix and received mentorship across several topics before they selected the final five studios.

The winners will receive funding to launch their product. They also get a further seven months of mentorship, totalling 600 hours per studio, and access to NEOM’s global Publisher Partner Network.