Saudi Arabia's Savvy Games Group Invests in Mobile Gaming Following Monopoly Go Success

Saudi's Savvy Games Group to invest $38B in mobile gaming, aiming to make Saudi a top 3 gaming hub by 2030. Acquired Scopely for $4.9B, Monopoly Go grossed $2B. Focuses on mobile dev, acquisitions to expand portfolio.

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Salman Khan
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Saudi Arabia's Savvy Games Group Invests in Mobile Gaming Following Monopoly Go Success

Saudi Arabia's Savvy Games Group Invests in Mobile Gaming Following Monopoly Go Success

Saudi Arabia's Savvy Games Group, a leading gaming and esports company backed by the country's Public Investment Fund, has announced plans to invest in mobile game development and acquisitions following the success of its popular mobile game, Monopoly Go. The CEO stated that the company's strategy is to capitalize on the growing mobile gaming market and expand its portfolio of successful titles.

Savvy Games Group's investment strategy will focus on identifying and supporting promising mobile game developers, as well as acquiring established mobile gaming studios to expand its portfolio and reach. The company agreed to buy mobile game maker Scopely for $4.9 billion last April, and the Monopoly title has since grossed $2 billion in revenue. Scopely will now form the 'tip of the spear' for Savvy's investment strategy, with more money going towards the mobile game publisher and potentially adding a 'genre-leading title' to its roster.

Why this matters: Savvy Games Group's investment in mobile gaming reflects the growing importance of the mobile gaming industry and its potential for significant revenue generation. The company's success with Monopoly Go and its acquisition of Scopely demonstrate its commitment to becoming a major player in the global mobile gaming market.

Savvy Games Group has $38 billion in funding to help turn Saudi Arabia into a hub for the video game industry, and has already invested $8.3 billion. The company aims to help establish the country as one of the top three gaming countries in the world by 2030, contributing to the country's GDP and creating over 39,000 jobs in the gaming and esports sector.

The company's CEO, Brian Ward, emphasized Savvy Games Group's goal of nurturing the gaming community in the Kingdom, developing high-tech infrastructure, and cultivating and upskilling new and existing game creators into globally recognized AAA publishers. By 2030, Savvy Games Group aims to play a major role in the Kingdom's growing economy and the global gaming community.

Key Takeaways

  • Savvy Games Group, backed by Saudi PIF, to invest in mobile gaming
  • Acquired mobile game maker Scopely for $4.9B, Monopoly Go grossed $2B
  • Aims to make Saudi Arabia a top 3 gaming hub by 2030, create 39,000 jobs
  • Focuses on nurturing gaming community, infrastructure, and upskilling creators
  • Savvy Games Group has $38B in funding to drive Saudi's gaming industry