Why Saudi Arabia’s Savvy Gaming Group is diving into esports and games

Savvy Gaming Group is on the expansion path. The Saudi Arabian company has made some big moves, acquiring both esports tournament firms ESL and Face It in a $1.5 billion deal in January.

And last week the news broke that Saudi Crown Prince Mohammed bin Salman, through a foundation, had acquired 96% ownership in Japanese game developer SNK, the maker of MohFatal Fury, Metal Slug, and The King of Fighters. Saudi Arabia’s Public Investment Fund, which provided the money for Savvy’s deal, also bought stakes above 5% in both Capcom and Nexon, reportedly for more than $1 billion for each stake.

And today, Riyadh-based Savvy Gaming Group is announcing the hiring of three key executives to help run Savvy’s ecosystem company, its game studios, and its infrastructure company.