Holding Billions, Brewing a New Wave of Major Acquisitions: Middle East Gaming Giant Seeks Investment Opportunities in Asia
The Savvy Games Group, backed by the Saudi government, is currently seeking to secure “the next multi-billion-dollar deal” in markets like China and other parts of Asia.
As context, Savvy Games Group was established by the wealthy Saudi Public Investment Fund (PIF) with an initial reserve of nearly $38 billion.
For a Middle Eastern oil nation where 70% of the population is under 35, positioning the gaming industry as a cornerstone of economic diversification makes sense. The group’s board chairman is Saudi Crown Prince and Prime Minister Mohammed bin Salman.
In the latest update on Monday, Savvy Games Group’s CEO, veteran gamer Brian Ward—who has worked at Electronic Arts, Microsoft’s gaming division, and Activision Blizzard—stated that the company is scouting for the next multi-billion-dollar deal in China and other Asian markets.
He specifically highlighted that the current geopolitical situation has created opportunities for Saudi gaming firms to partner with Chinese developers.
Ward said, “China has a vast pool of development talent... they are looking for opportunities to enter international markets. For the right teams, we can offer an ideal growth platform compared to many competitors, especially U.S. rivals.”
He also noted that Savvy’s two largest deals to date have occurred in the U.S. In 2023, the company acquired U.S. game developer and publisher Scopely for $4.9 billion.
That same year, the Monopoly simulation game Monopoly Go!, which it released, generated over $5 billion in revenue within two years.
In May this year, Savvy spent $3.5 billion to acquire multiple titles, including Pokémon GO, from U.S. developer Niantic.
These two deals alone have positioned Savvy as the world’s second-largest mobile game publisher after Tencent.
“Our mission is to become the world’s number one gaming and esports company. By net revenue, we are currently the eighth-largest game publisher, so we have a long way to go,” Ward emphasized.
Further growth opportunities will be closely tied to acquisitions. Ward noted that while acquiring Pokémon GO boosted Savvy’s player base in China, the company’s game portfolio “remains heavily skewed toward Western markets.” This, however, presents “prime acquisition opportunities” in emerging gaming hubs like China, Japan, South Korea, Southeast Asia, and Latin America.
For Savvy, holding vast sums of capital also ties into the kingdom’s transformation strategy. Saudi authorities aim to create 39,000 local gaming-related jobs by 2030 and increase the industry’s contribution to GDP to 1%.
In just a few years, the employment landscape in gaming is facing disruption from technological shifts—ranging from programming to art, with the industry closely monitoring the impact of AI automation tools.
Ward stressed that artificial intelligence has created opportunities across various roles. Although these jobs will differ from those envisioned three or four years ago, employment opportunities remain abundant.