Saudi Arabia to Invest $37.8 Billion in E-Sports

As part of the Kingdom's quest to transform into a global gaming hub, Savvy Gaming Group has outlined plans to invest SAR 142 billion ($37.8 billion) in initiatives and programs.

The investment will include SAR 70 billion to buy several minority stakes in key companies that support the development agenda pursued by Savvy and SAR 50 billion to acquire one of the best game publishing and development companies to become an effective strategic partner.

Another SAR 20 billion of investments will be allocated to participation in reputable companies in the sector whose plans are in line with the Group's strategy.

The company aims to establish 250 gaming companies in the Kingdom to provide 39,000 jobs and raise the sector's contribution to the country's gross domestic product to SAR 50 billion by 2030.

The Company's strategy is to invest in the gaming and e-sports sector over the long term, including local and international programs and the provision of the necessary infrastructure.

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This article was previously published on saudimoments.To see the original article, click here