Riyadh - Sharikat Mubasher: Savvy Games Group, wholly owned by the Saudi Public Investment Fund (PIF), plans to inject more investments in mobile game development and acquisitions, according to CEO Brian Ward.
This move came after the major success of Savvy’s mobile game Monopoly Go, Ward said in an interview with Bloomberg.
Last April, Savvy Games concluded a deal to purchase the game maker Scopely for $4.9 billion and released its mobile game Monopoly. Since then, the famous board game has achieved revenues estimated at $2 billion.
Scopely will form the “tip of the spear” for Savvy’s investment strategy as the company intends to inject more investments into the mobile game publisher and add a “genre-leading title” to Scopely’s roster.
In 2022, Savvy Games announced its strategy to invest $38 billion to transform Saudi Arabia into a hub for the video games industry.
Ward clarified that Savvy Games is not in a rush to deploy all the capital within a certain time frame as its top priority now is to “enable Scopely to do what they do best.”
It is worth noting that Savvy Games Group injected over $1.5 billion into acquisitions to form ESL Faceit Group, which will operate the Kingdom’s Esports World Cup this summer with a record-breaking $60 million prize pool.
