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Chronicles

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Saudi Arabia's Savvy Games Group has spent ~$8B of its $38B war chest acquiring and building stakes in gaming companies globally in the past 18 months

Savvy shells out $8bn on deals in 18 months in rapid push to diversify revenues and acquire soft power

Financial Times

Discussion

  • @niubi Bill Bishop on x
    Saudi Arabia spends billions in bid to dominate global games industry https://www.ft.com/... surprised they have not offered to buy out a big chunk of Nasper/Prosus stake in Tencent
  • @danjokaz00ie DanjoKaZooie on x
    Saudi is getting big into digital games it seems, like everything else in their diversification strategy. But I would argue that their dream of a robust domestic industry is decades away. https://giftarticle.ft.com/...
  • @financialtimes @financialtimes on x
    Crown Prince Mohammed bin Salman wants to transform the kingdom into ‘the ultimate global hub’ for the industry in just seven years. But others are more sceptical https://www.ft.com/... [image]