The Public Investment Fund announces the launch of the Savvy Group for electronic games

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The Public Investment Fund announced today the launch of the Savvy Group for electronic games and its board of directors is chaired by His Royal Highness Prince Mohammed bin Salman Al Saud, Crown Prince, Deputy Prime Minister, Chairman of the Council for Economic Affairs and Development, and Chairman of the Board of Directors of the Public Investment Fund.

The group aims to be a leader in the development of the gaming and e-sports industry locally and internationally, which will work in harmony to support an integrated system for the sector.

In support of its ambitious future plans, the Savvy Group has signed an agreement to acquire “ESL”, the world leader in entertainment events and competitions in the field of eSports, and “FACE IT”, the leading digital platform in eSports, and merge them under the “ESL FACE IT Group” will be the cornerstone for the achievement of the Savvy Group’s objectives in this sector, bearing in mind that the completion of the acquisitions is subject to the conditions for obtaining regulatory authorizations from the competent authorities.

The establishment of the Savi Group for electronic games is in line with the fund’s 2021-2025 strategy, which aims to strengthen promising sectors, including entertainment and sports, which helps provide development opportunities and improve the diversification of sources of income for the saudi economy in accordance with the goals of Vision 2030.

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