Saudi investment fund starts gaming group
The fund, which is headed by the crown prince, will work on developing video game competitions with two European companies.
Saudi Arabia’s state investment fund is seeking to enter the competitive video game business.
The Public Investment Fund announced today the launch of the Savvy Gaming Group, which will work to develop esports in Saudi Arabia and internationally, the Saudi Press Agency reported.
Esports refers to the playing of video and computer games for the purpose of competition. This typically occurs at events where players win or lose based on their performance.
The Public Investment Fund is a sovereign wealth fund headed by Crown Prince Mohammed bin Salman. It has hundreds of billions of dollars worth of investments.
