Saudi Arabia launches Savvy group for electronic games

The Saudi Public Investment Fund announced the formation of the “Savvy” group for electronic gaming on Wednesday.

According to the Saudi Press Agency, Saudi Crown Prince Mohammed bin Salman chairs the board of directors (SPA).

According to the Saudi Agency, the group aspires to be a pioneer in the local and international growth of games and electronic sports.

The Savvy Group also announced that it had acquired ESL, the world leader in entertainment events and tournaments in the realm of esports, as part of its ambitious plans.

It also bought “FACE IT,” the dominant digital platform in esports, and integrated them under “ESL FACE IT Group,” which would serve as the cornerstone for the company’s esports aspirations.

The fund’s goal 2021-2025, which intends to empower promising industries such as entertainment and sports, includes the formation of the Savi Group for electronic gaming.

It will contribute to the Saudi economy’s expansion and diversification of sources of income in line with the Kingdom’s Vision 2030 goals.