Saudi gaming industry M&A is now shaped by one name: Savvy Games Group. Savvy is a Saudi Arabian state-owned video game investment, development, publishing, and esports holding company headquartered in Riyadh. It is the video game division of Saudi Arabia’s Public Investment Fund (PIF), created to support domestic gaming development and invest globally. Savvy was established in 2021 as part of a broader goal of diversifying the Saudi economy and growing the Saudi video game industry.
The size of the plan is not subtle. On September 29, 2022, Savvy announced plans to invest $37.8 billion in the video game industry, including $13.3 billion for the acquisition and expansion of a prominent developer and publisher. The initiative also set targets to create 39,000 jobs, establish 250 gaming companies, and contribute 50 billion riyals to Saudi GDP. In early 2022, Savvy was described as having a $38 billion war chest and a promise to spend it.
That promise shows up in deal sizes. Savvy invested $1 billion to buy an 8% interest in Embracer Group in May 2022. In 2023, Savvy acquired Scopely for $4.9 billion, after announcing the intent on April 5, 2023 and completing the acquisition on July 13, 2023. In March 2026, Savvy agreed to acquire Moonton from ByteDance for more than $6 billion, with multiple reports describing the deal as $6 billion and noting it is pending closure.
What “Next Wave” Looks Like After Savvy’s First Phase
The next wave is not only about buying studios directly. Bloomberg reported that PIF is transferring roughly $12 billion worth of gaming company shares, including Nintendo and Bandai Namco Holdings, to Savvy. Semafor also reported that PIF transferred stakes in Nintendo and handed Savvy a $3 billion stake in Take Two Interactive. This signals a shift: Savvy is being entrusted with more listed stakes, not just full acquisitions.
Another part of the next wave is mobile, using Scopely as a platform. Naavik reported that in March 2025, Scopely signed a $3.5 billion deal for Niantic’s games business, and that the deal closed in May. Semafor added that Scopely is buying a majority stake in Turkey’s Loom Games in a deal worth up to $1 billion, while Naavik noted that Scopely agreed to acquire a majority stake in Istanbul-based Loom Games in February 2026, with a path to full ownership. These moves show a pattern of stacking mobile assets through a Savvy-owned operator.
At the same time, the biggest headline deals can sit outside Savvy. Naavik said PIF helped take Electronic Arts private last year, but not through Savvy, and that Silver Lake and Affinity Partners provided distance. Semafor reported that PIF is leading a $55 billion bid to take Electronic Arts private. Together, these details suggest Saudi gaming industry M&A may keep splitting into two tracks: Savvy for gaming platform building, and PIF-level structures for mega deals that need a different approach.
What is Savvy Games Group, and why does it matter for Saudi gaming industry M&A?
What are the biggest Savvy-related deals named in the sources?
How is PIF increasing Savvy’s role beyond acquisitions?
What targets were tied to Savvy’s investment plan?
