Saudi Arabia To Invest $37 Billion in Gaming

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. From a report: Savvy is primed to buy up a lot of gaming companies and start many of its own. 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. Another $18 billion is pegged for minority investments. Savvy's efforts are expected to establish 250 game companies and create 39,000 jobs, the press agency noted. The investments are announced by Saudi Crown Prince Mohammed bin Salman.

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