According to Bloomberg reports, the government ofSaudi Arabiacommanded by Prince Bin Salman, would be about to create a “gaming hubs” by $38 billion in the heart of the nation. This is the latest step in a long-standing effort to become a leading industrial nation by diversifying investments. Currently, Saudi Arabia’s economy is focused almost entirely on oil.
The company, which was already discussed last year but which has now been better outlined, will be led by Savvy Gaming Group, also founded by Bin Salman, who is primarily looking to acquire or create a company that will allow the creation of new intellectual properties in the country. There are many investments in this sense, given that the Savvy Gaming Group has been acquiring pieces of well-established companies in the industry such as Nintendo, EA and Take-Two for some time and investing in the world of eSports. However, things will change soon, because the goal is to become a video game publisher, as stated by the CEO Brian Ward:
“Currently we are more of an esports company than a gaming company. What we will do this year is focus more on game publishing and development. We would like to use these investments to start working with those companies and ask how we can collaborate to publish in the Middle East and in North Africa, manage their esports business and jointly develop new intellectual property.”
It seems that the change of perspective, with the opening to development and publication, has come about due to the failure of the export sector, which is struggling to mesh and which was instead central to the initial project.
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