Saudi Arabia continues to invest in the gaming world and has now made a major investment in the Swedish gaming giant Embracer Group.
Savvy Gaming Group, which is owned by the Saudi state investment fund PIF, is now a new major player in Embracer. Savvy Gaming Group is said to have bought just over eight percent of the shares in Embracer for SEK 10.3 billion. Lars Wingefors, founder and CEO of Embracer, says that Savvy Gaming Group will now be a new partner in the company:
“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. “
Saudi Arabia and the Savvy Gaming Group have previously acquired the esports league ESL and DreamHack, as well as made major investments in Nintendo, EA, Take-Two and Activision Blizzard.
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