Why Would a Government Invest in Games?
Snotnose writes:
Saudi Arabia's government-funded gaming conglomerate The Savvy Gaming Group will invest $37.8 billion in gaming as part of a controversial effort to expand the kingdom's role in the sector.
Savvy has earmarked more than $13 billion "for the acquisition and development of a leading game publisher to become a strategic development partner," according to the kingdom's press agency.
From Reuters we read:
Saudi Arabia's Savvy Games Group, owned by sovereign wealth fund PIF, will invest 142 billion riyals ($37.8 billion) in initiatives aimed at making the kingdom a global hub for gaming, state news agency SPA said on Thursday.
The investments will include 70 billion riyals to take several minority stakes in companies that support Savvy's game development agenda and 50 billion riyals to acquire "a leading game publisher to become a strategic development partner".
Another 20 billion riyals will be invested in mature industry partners who bring expertise to Savvy's portfolio and 2 billion riyals will target industry disruptors "to grow early-stage games and esports companies."
Not seeing how making video games passes my 7th grade "this is what your government does" chapter.
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