Saudi Arabia puts $13 billion aside to acquire a 'leading game publisher'

The state-backed Savvy Gaming Group is set to invest $37 billion USD into gaming altogether, which will include acquisition of a major publisher.

Image via Saudi Arabia Public Investment Fund

Among the various video game and technology company acquisition news that has filled 2022, one of the more interesting forces has been Saudi Arabia, which is currently using a state fund to diversify the nation into entertainment and away from oil. It has led to investments in Capcom, Electronic Arts, Activision Blizzard, Nexon, SNK, and more, and it seems Saudi Arabia isn’t nearly done either. Savvy Gaming Group, a state-backed acquisitions company, has announced intention to put around $37 billion USD more investment into the gaming industry with $13 billion put aside to acquire a “leading game publisher”.

The upcoming moves by the Savvy Gaming Group were shared in a recent report from Axios. According to a report from the Saudi royal family’s press agency, the Savvy Gaming Group has intention to invest a total of around $37.8 billion USD into further expanding Saudi Arabia’s exponentially growing state in the video game industry. Of that $37.8 billion, $13 billion has been earmarked “for the acquisition and development of a leading game publisher to become a strategic development partner.”

Saudi Arabia Public Investment Fund and Nintendo Logo
Saudi Arabia's Public Investment Fund has been used to acquire stakes in Nintendo, SNK, Capcom, Nexon, and many more gaming companies and it looks like it has another $13 billion USD acquisition lined up.
Source: Saudi Arabia Public Investment Fund

Saudi Arabia has been aggressive in its buying of stakes and investments in various major game developers and publishers with the use of its Public Investment Fund (PIF). State-backed groups like Savvy Gaming Group acquired nearly all of SNK over the course of the year. It also grabbed minority investments in Nexon and Capcom, as well as a 5 percent stake in Nintendo. It even currently has an 8.1 percent stake in Embracer Group, which has been on its own acquisitions spree.

With no word yet of what “leading game publisher” Saudi Arabia is using the $13 billion USD to acquire, it looks like we’ll be on the lookout for a major announcement in the near future. Stay tuned for further updates.

Senior News Editor

TJ Denzer is a player and writer with a passion for games that has dominated a lifetime. He found his way to the Shacknews roster in late 2019 and has worked his way to Senior News Editor since. Between news coverage, he also aides notably in livestream projects like the indie game-focused Indie-licious, the Shacknews Stimulus Games, and the Shacknews Dump. You can reach him at and also find him on Twitter @JohnnyChugs.

From The Chatty
  • reply
    September 29, 2022 10:10 AM

    TJ Denzer posted a new article, Saudi Arabia puts $13 billion aside to acquire a 'leading game publisher'

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      September 29, 2022 10:21 AM


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      September 29, 2022 10:30 AM

      Guessing EA

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        September 29, 2022 10:36 AM

        Pretty sure that has a higher valuation?? But it makes sense.

        My guess is going all in on SNK. If they can accomplish buying a Japanese company, it will pave their way towards takeover attempts of Capcom or Sega

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        September 29, 2022 11:17 AM

        EA Market Cap is 33B

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          September 29, 2022 11:18 AM

          that's fine, they are probably learning from tencent they just need 51%

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      September 29, 2022 11:36 AM

      Finally! The gaming world has long missed the presence of a FPS game where the enemies are all crazed journalists, unconcerned with the damage their livelihood is causing the benevolent leaders of Saudi Arabia!

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        September 29, 2022 3:04 PM

        Hey, not just journos. Don't forget gays and women!

      • reply
        September 29, 2022 5:48 PM

        That's the gameplay of "Serious Sam - Only Screaming Heads Edition"

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      September 29, 2022 11:48 AM


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      September 29, 2022 12:38 PM

      matches embracer roughly? but are they a "leading game publisher"

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        September 29, 2022 12:59 PM

        Embracer is a holding company, meaning it’s a formation designed as a vehicle for M&A.

        I think being bought out by Saudi Arabia would not be a complete surprise, but it would probably not happen in less than 4-5 years.

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      September 29, 2022 12:42 PM

      SA should be banned from buying any (Western or Japanese) game publisher. It doesn’t make any sense. It’s like the Taliban buying Disney World or something.

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      September 29, 2022 1:04 PM

      Great, another let's bomb Yemen game

    • reply
      September 29, 2022 1:06 PM

      Hello Games/No Mans Sky

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      September 29, 2022 1:45 PM

      BANDAI NAMCO Holdings Inc?

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      September 29, 2022 2:40 PM


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        September 29, 2022 2:47 PM

        Thats my first thought.

      • reply
        September 29, 2022 4:09 PM

        Ubisoft is not worth 13 billion. Not even close.

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        September 29, 2022 5:31 PM

        Ubi in Tencent's pocket.

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        September 30, 2022 12:52 AM

        Assassins Creed: Turkish Embassy.

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      September 29, 2022 3:13 PM

      A new surgery simulator?

    • reply
      September 29, 2022 5:12 PM

      Star Citizen having another Kickstarter?

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      September 29, 2022 5:28 PM

      I’d give up morals for a cool paycheck ngl

    • Zek legacy 10 years legacy 20 years
      September 29, 2022 5:48 PM

      This is about hedging on the future of oil, right? Why video games specifically?

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        September 29, 2022 6:31 PM

        This is about bettering their image I’m guessing just like the big money poured into golf and esport events

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      September 29, 2022 8:30 PM


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        September 29, 2022 9:11 PM

        I hope not, since they own Thief and Deus Ex now.

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          September 29, 2022 10:36 PM

          A sale of Embracer could potentially allow studios to split off from the sale by buying themselves back or selling to another company, due to Embracer’s structure.

          This is why I wouldn’t expect a deal too soon. They may want all the current projects to come out and potentially earn the studios enough funds or clout to decide if they want to be in or out.

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            September 29, 2022 11:49 PM

            I have noted that Embracer made sure that rights for these franchises resided with the devs who had made them - CD getting Tomb Raider and Eidos Montreal with Thief and Deus Ex.

            So that's a fair point, yeah.

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      September 29, 2022 9:03 PM

      that's a pretty good possibility

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        September 30, 2022 1:00 AM

        absolutely not lol indie game developers would band together and make godot or unreal engine the leading engine after that

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      September 29, 2022 10:09 PM


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      September 30, 2022 1:09 AM

      Sierra OnLine! They’re bringing Freddy Pharkas: Frontier Pharmacist back!

      • reply
        September 30, 2022 2:44 AM

        Relaunch The Sierra Network and let us play Red Baron, Shadow of Yserbius, and chat online!

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