SAR 421 million reaches 82 entities and contributes to the development of more than 127 games through the end of 2025

Riyadh | August 24, 2026

Prepared and analyzed by the Strategic Media Department – BETH Agency

The National Development Fund approved more than SAR 421 million in financing for its Gaming and Esports Financing Program through the end of 2025. The funding benefited 82 entities operating across different areas of the sector and contributed to the development of more than 127 video games.

The figures presented in the program’s report show that financing is no longer limited to supporting events and tournaments. It is increasingly directed toward building a productive base comprising game developers, studios, publishers, clubs, organizers, and service providers, helping move the sector beyond entertainment and consumption toward industry and investment.

The financing averages approximately SAR 5.1 million per beneficiary. This mathematical average, however, does not represent the actual amounts received, given the differences in company size, project type, financial requirements, and the instruments used, including direct financing and venture capital.

Dividing the total financing by the 127 games also does not mean that each game received a specific allocation. Part of the funding supports working capital, expansion, operational infrastructure, clubs, tournament organization, and other industry-related services.

From SAR 300 Million

The Gaming and Esports Financing Program was launched in September 2022 with a budget of SAR 300 million. By the end of 2023, the National Development Fund had increased the program’s budget to SAR 1.09 billion in response to the sector’s growth and the expanding financial needs of its companies.

Comparing the SAR 421 million approved through the end of 2025 with the program’s announced budget shows that approvals account for approximately 39% of its total financing capacity, indicating substantial room to finance further stages of growth.

This comparison does not necessarily mean that the remainder represents unused funds immediately available for disbursement. Financing remains subject to evaluation, feasibility, guarantees, and approval procedures. It does, however, show that the program has not yet reached the limit of its financing capacity.

The National Development Fund raised the program’s budget to SAR 1.09 billion as part of an effort to provide diverse financing solutions for companies operating in the sector.

Multiple Financing Tracks

The program uses several financing tracks to accommodate companies at different stages of development and with varying requirements.

The Social Development Bank offers a product for financing working capital and capital expansion for businesses operating in gaming and esports. Eligible activities include game studios, publishers, distributors, clubs, tournament and league organizers, and gaming centers.

The financing ceilings are:

• SAR 2 million for microenterprises.
• SAR 12 million for small enterprises.
• SAR 45 million for medium-sized enterprises.
• SAR 30 million for foreign companies operating in the Kingdom.

These ceilings show that the program does not focus solely on early-stage ventures. It can also finance larger expansions and accommodate foreign companies capable of transferring expertise and technology and localizing parts of the industry.

Venture Capital

Alongside direct financing, the program includes a venture capital track through two funds with a combined value of SAR 450 million.

The fund managed by Merak Capital is valued at SAR 300 million and is linked to a business accelerator targeting scalable companies, studios, publishers, and gaming technology ventures.

The gaming and esports fund managed by Impact46 is valued at SAR 150 million and targets investment in promising companies operating in the sector.

The distinction between loans and venture capital is important. Loans are better suited to companies capable of repayment and seeking to finance expansion, while venture capital can support higher-risk startups that may possess products capable of scaling locally and internationally.

The program therefore seeks to address one of the industry’s biggest challenges: the long period between game development and the generation of revenue, and the need for financing capable of supporting experimentation, testing, and marketing.

127 Games

Supporting the development of more than 127 games is an important indicator of a widening production base, but the figure alone is not sufficient to assess the program’s success.

It answers the question of how many projects received support, but not yet the more important economic questions:

• How many games were completed and commercially launched?
• How many reached markets outside the Kingdom?
• How much revenue did the financed games generate?
• How many direct and indirect jobs resulted from the financing?
• What proportion of developers and designers were Saudi?
• How many companies moved from startup to expansion?
• How much private investment did each riyal of development financing attract?

These indicators should be included in future reports. The objective is not merely to increase the number of games, but to build sustainable companies capable of creating Saudi intellectual property for export.

An Industry, Not a Tournament

Saudi Arabia’s presence in gaming and esports has expanded rapidly through international tournaments, investments, clubs, and the hosting of the Esports World Cup, culminating in its global edition in Paris.

The gaming industry, however, extends far beyond organizing tournaments. It includes programming, design, graphics, animation, audio production, writing, marketing, publishing, intellectual property rights, platforms, and technical infrastructure.

This is where financing acquires its importance: it links audience growth and major international events to a domestic production base capable of turning expenditure into companies, jobs, and products.

Success is not achieved only when the Kingdom hosts the world’s best players, but when people around the world play games designed, developed, and published in Saudi Arabia.

Financing Alone

Financing addresses one of the industry’s obstacles, but it cannot solve all of them.

A successful game requires more than money. It needs a capable development team, continuous product testing, a publisher with market access, international marketing, intellectual property protection, and the ability to retain talent.

The program must therefore be integrated with training, business incubators, universities, technology companies, global platforms, and export programs, ensuring that financing does not result in a large number of games with limited market reach.

The attraction of foreign companies should likewise not be measured by the number of offices they open, but by the knowledge they transfer, the high-quality jobs they create, the games they produce inside the Kingdom, and the opportunities they provide Saudi developers to reach global markets.

The Next Test

The SAR 421 million shows that the Kingdom has begun building a specialized financing channel for an industry that, only a few years ago, lacked an independent development financing track.

The participation of 82 entities and the support provided to more than 127 games also show that financing has reached a diverse base of companies and projects rather than remaining concentrated among a limited number of major organizations.

The next phase, however, requires a shift from announcing the volume of financing to measuring its returns: revenue, jobs, exports, intellectual property, the private investment it attracted, and the proportion of supported games that moved from development into the market.

The Kingdom has financed the beginning of the journey. Its ultimate success will be measured by the number of games that find players, companies that find markets, and Saudi products that reach the world.