The Public Investment Fund announced today the launch of the Savvy Group for electronic games, and its board of directors is chaired by His Royal Highness Prince Mohammed bin Salman Al Saud, Crown Prince, Deputy Prime Minister, Chairman of the Council of Economic and Development Affairs, and Chairman of the Board of Directors of the Public Investment Fund.

The group aims to be a leader in the development of the games and e-sports sector at the local and international levels, which will work in harmony to support an integrated system for the sector.

In furtherance of its ambitious future plans, the Savvy Group has signed an agreement to acquire “ESL” the world leader in entertainment events and competitions in the field of esports, and “FACE IT” the leading digital platform in esports, and merging them under the “ESL FACE IT Group” to be The cornerstone for achieving the objectives of the Savvy Group in this sector, bearing in mind that the completion of acquisitions is subject to the conditions for obtaining regulatory approvals from the concerned authorities.

The establishment of the Savi Group for electronic games comes in line with the fund’s strategy 2021-2025, which aims to empower promising sectors, including entertainment and sports, which contributes to providing development opportunities and enhancing the diversification of sources of income for the Saudi economy in accordance with the objectives of Vision 2030.