ONLINE Saudi investment in gaming 1 week ago Iwo Bulski Post Views: 92 Saudi Arabia has looked to Sweden again to build on its video games and esports investments, having already launched the Savvy Gaming Group. Saudi PIF has bought an 8.1 per cent stake in a Swedish developer. Through Savvy, the Saudi Public Investment Fund (PIF) is buying 99.9m B shares at a subscription price of 103 kronor per share, from Sweden’s video game developer Embracer at 10.3bn kronor ($1.05bn). The fund launched the gaming and esports group in January of this year after buying ESL Gaming in a cash transaction worth $1.05bn. Lars Wingefors, CEO of Embracer, said: “Savvy Gaming Group’s investment of $1bn enables us to continue executing our strategy proactively from a position of strength across the global gaming industry.” Embracer owns 120 studios, including Gearbox Software, Deep Silver and Flying Wild Hog. The deal gives the Saudi’s an 8.1 per cent stake in Embracer. Explaining the decision to accept the investment, Wingefors said: “I have been asked over the past few days why we are accepting investment from an entity in a non-democratic country. To start, we need to look ourselves in the mirror, we are a public company and already have many hundreds of institutions from all parts of the world as shareholders, including investors from the Middle East and Africa (MENA) and Asia region. We genuinely believe that SGG, a fully commercial entity, has ambitions within gaming that are genuine in supporting the global ecosystem for our industry that are consistent with and important to the values and culture of our industry. SGG is providing a sizeable, truly long-term capital investment to support our strategy and our management so that we may continue the successful growth of our commercial businesses.” Source: intergameonline.com Iwo BulskiIssues related to the gambling business is engaged in more than 30 years. My empirical experience gives me the opportunity to present events and companies from this business with full knowledge and industry knowledge. Facebook Twitter LinkedIn Email Print Tags: Embracer, investment, Saudi Arabia Continue Reading Previous Towards robust cyber security for NigeriaNext Pragmatic Play seeks heavenly favour in Queen of Gods More Stories ONLINE SOUTH AFRICA Can You Play Hollywoodbets Casino on Mobile? 2 days ago Iwo Bulski ONLINE WORLD NEWS BI systems — how to automate business decision-making in iGaming 4 days ago Iwo Bulski ONLINE SOUTH AFRICA The Central African Republic Bets Big On Bitcoin 5 days ago Szarlot ONLINE WORLD NEWS Gambling in Asia — Slotegrator’s analysis of opportunities for 2022 1 week ago Samuel ONLINE WORLD NEWS Pragmatic Play seeks heavenly favour in Queen of Gods 1 week ago Iwo Bulski NIGERIA ONLINE Towards robust cyber security for Nigeria 1 week ago Samuel ONLINE WORLD NEWS How to increase your online casino’s audience — a guide from Slotegrator 2 weeks ago Iwo Bulski ONLINE WORLD NEWS Playson Agreed to Power Inbet with Innovative Slots 2 weeks ago Szarlot ONLINE WORLD NEWS Slotegrator is going to IGB Live 2 weeks ago Iwo Bulski GAMES ONLINE Wazdan cranks up the temperature in Sizzling Eggs™ 2 weeks ago Iwo Bulski INTERVIEWS ONLINE New platform, new features — an interview with Slotegrator’s Yana Khaidukova 2 weeks ago Iwo Bulski ONLINE WORLD NEWS TVBET Launches new live game – Spin2Wheels 2 weeks ago Iwo Bulski Leave a Reply Cancel replyYour email address will not be published. Required fields are marked *Comment * Name * Email * Website Save my name, email, and website in this browser for the next time I comment. Δ This site uses Akismet to reduce spam. Learn how your comment data is processed.