Saudi Arabia Is Trying To Become The Next Gaming Hub
Gaming is a billion-dollar industry, and it only continues to grow every year. As such, we have seen more and more companies and even governments getting invested in the industry. One already invested seems to be stepping it up as Saudi Arabia is trying to become the next gaming hub.
Saudi Arabia is preparing to invest a substantial amount of money into the gamingindustry, which would be somewhere around 38 billion dollars.
This investment would be based on the goal of turning Riyadh and the country at large into a gaming hub.
This was just the latest in many investments Saudi Arabia has made in the gaming industry.
Today many cities and countries are trying to keep or become relevant in the gaming industry. Who can blame them when you consider that the industry is worth billions and generates a lot of jobs? But some countries take this to an extreme that can be hard to picture fully. One of them is Saudi Arabia, and according to a Resetera post based on a Bloomberg report, they are going all the way.
The post states that Saudi Arabia will invest around 38 billion dollars into the gaming industry to try and turn their country into a gaming center. This would mainly consist of building the infrastructure to support a large gaming industry in Riyadh. This would more than likely be to help support what would be the second stage of investment.
In this second stage, the Saudi Arabian-owned company Savvy Gaming Group would begin acquiring other game development companies and publishers. While the company has talked about certain companies being too large to acquire, that may have changed. Their budget for these acquisitions is going to be 13 billion dollars. This is a lot of money that could see a lot of companies being acquired by this group.
Some concerns about this acquisition level have been raised, but this has already happened for some time. The Savvy Gaming Group already owns a 5% portion of several companies, including Nintendo and Capcom. It has even been speculated that while Nintendo will likely not be acquired, Capcom definitely could be.
It is clear that if this plan goes forth, big shakeups will come to the gaming industry. Between Savvy Gaming Group and Tencent, there is a lot of gaming acquisition on the part of countries rather than just companies. It will also be attractive to so how the relationship with those countries could affect the gaming industry. Only time will tell what will happen, but this is an exciting development in gaming history.
That is all that we have on Saudi Arabia is trying to become the next gaming hub. What are your thoughts and opinions on this subject matter? Share with us in the comments section below.
Jace loves both video games and writing, so he thought the best career was to write about video games. He attended Full Sail University and graduated with a Bachelor’s in Creative Writing. He joined Gamsual in 2022, and when not covering video game news, he is often building and strategizing in simulation and RTS games. Xbox: Alchemist5966