Saudi Arabia's PIF to transfer $12bn in gaming shares to Savvy Games Group

• Following the transfers, Savvy is expected to hold roughly 10% stakes in Koei Tecmo Holdings, NCSoft, Nexon and Square Enix Holdings.
• Savvy said the transfer will not change its investment strategy, with stewardship shifting from PIF to its games-focused subsidiary.
• Savvy is not involved in PIF’s position in Electronic Arts’ proposed $55 billion buyout.

Saudi Arabia’s Public Investment Fund has revealed plans to transfer around $12 billion worth of gaming-related shares to its subsidiary Savvy Games Group.

As reported by Bloomberg, the move will include stakes in Nintendo and Bandai Namco Holdings, allowing Savvy to further strengthen its position in the global games industry, with billions still allocated for future investments. 

Once the share transfers are completed, Savvy will hold roughly 10% stakes in companies including Koei Tecmo Holdings, NCSoft, Nexon and Square Enix Holdings. 

“These transfers will move the stewardship of PIF’s games investments to Savvy, given Savvy is a leading games organisation for the PIF and a core component of the National Gaming and Esports Strategy,” said Savvy spokesperson Amar Batkhuu. “There are no plans to change the investment strategy."

Saudi strategy 

Savvy was founded in 2021 as part of Saudi Arabia’s efforts to diversify away from oil, with $38bn allocated for games investments. 

The company has already acquired major assets, including Monopoly Go developer Scopely and Niantic, as well as several esports organisations such as ESL and Faceit.  

Saudi Arabia’s PIF remains the largest investor in Electronic Arts’ proposed $55bn buyout, but Savvy Games Group is not involved in the transaction. 

Earlier this month, we interviewed Savvy Games Group CEO Brian Ward, who told PocketGamer.biz that the strategy and the support of its shareholders remain unchanged.