Saudi Arabia’s Savvy Gaming Group embraces Embracer with $1B investment

Savvy Gaming Group, an investment group from Saudi Arabia, has invested deeply into Embracer Group. For $1 billion dollars from Saudi Arabia’s Public Investment Fund (PIF), Embracer shared out 99.9 million B-shares. This allotment equals an 8.1% stake in the Swedish video game and media holding company.

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