Journalists from the Financial Times have calculated that over the past 18 months, the Saudi Arabian authorities have invested about $8 billion in the gaming industry. This was done through the Sovereign Fund (PIF) and Savvy Games Group.
The latest largest investments were an 8% stake in Embracer Group for $1 billion, as well as the purchase of mobile developer Scopely for $4.9 billion. Last year, Savvy Games Group announced that it would spend $37.8 billion to develop the gaming industry in Saudi Arabia.
The Saudi authorities hope to open 250 game studios in the region with the help of investments and create 39,000 jobs.
Over the past year and a half, the Saudis have consistently invested in Nintendo, EA, Take-Two Interactive, Activision Blizzard, Capcom, Nexon, NCSoft, and SNK. Also, the Saudi Arabia Sovereign Fund is actively investing in eSports.