Riyadh – Sharikat Mubasher: Saudi-owned mobile gaming company Scopely has agreed to acquire a majority stake in Turkish developer Loom Games, signaling Riyadh’s ambition to become a global hub for video games.

As reported by Bloomberg, the deal is valued at $1 billion, contingent on Loom Games meeting certain performance targets, a Scopely spokesperson said. Founded last year in Istanbul, Loom Games is behind the mobile puzzle game Pixel Flow!, which has attracted 10 million users since its fall launch. Co-founders Kobra Gundogan and Emre Celik will continue to lead the company, which employs around 20 staff.

Scopely, headquartered in California, is known for games like Monopoly Go! and Pokémon Go. It is owned by Savvy Games Group, a Saudi Public Investment Fund (PIF)–backed investment company focused on gaming. The Kingdom is leveraging such acquisitions to diversify its economy beyond oil and strengthen its presence in the global gaming sector.

According to previous data from Niko Partners, 62% of Saudis identify as regular gamers. Saudi Crown Prince Mohammed bin Salman, chairman of the PIF, has driven the nation’s tech and digital entertainment initiatives, including significant investments in major gaming companies like Electronic Arts and Nintendo.