- Savvy Gaming Group (SGG) aims to be the leading national and international games and esports company
- As part of its ambitious strategy, SGG has acquired and merged industry giants ESL and FACEIT to create “ESL FACEIT Group,” which will play a key role in meeting SGG’s objectives
- The launch is in line with PIF’s 2021-2025 strategy to drive innovation in strategic sectors including the entertainment, leisure and sports sector
The Public Investment Fund (“PIF”) announced today the launch of Savvy Gaming Group (“SGG”), chaired by His Royal Highness Crown Prince Mohammed Bin Salman, Deputy Prime Minister, Chairman of the Council for Economic and Development Affairs, and Chairman of PIF.
SGG aims to become the leading games and esports group domestically and internationally, and will work to further develop an integrated ecosystem for the sector.
To achieve its ambitious future plans, SGG has acquired ESL, a leading global organizer of entertainment and esports events, and FACEIT, a top digital esports platform, and has merged them to form the “ESL FACEIT Group,” which will help achieve SGG’s objectives in the sector. Closing of the transactions is subject to regulatory approvals.
The launch of Savvy Gaming Group is in line with PIF’s 2021-2025 strategy, which aims to enable promising industries and sectors such as entertainment, leisure and sports, as well as create opportunities for the growth and diversification of Saudi Arabia’s economy, to help achieve the objectives of the Kingdom’s Vision 2030.
About PIF
The Public Investment Fund (“PIF”) is one of the largest and most impactful sovereign wealth funds in the world. Since 2015, when the Board was reconstituted and oversight transferred to the Council of Economic and Development Affairs, the Fund’s board of directors has been chaired by HRH Prince Mohammed bin Salman Al Saud, Crown Prince, Deputy Prime Minister and Chairman of the Council for Economic and Development Affairs. By the end of Q4 2021, PIF’s Assets under Management amounted to more than 1.8 trillion Saudi riyals. The Fund plays a leading role in advancing Saudi Arabia’s economic transformation and diversification, as well as contributing to shaping the future of the global economy. Since 2017, the Fund has established 47 companies and created, directly and indirectly, more than 450,000 jobs as at the end of 2021.
PIF is building a diversified portfolio by entering into attractive and long-term investment opportunities in 13 strategic sectors in Saudi Arabia and globally. The Fund's strategy, as set out in the PIF Program 2021-2025 - one of the Vision 2030 realization programs - aims to enable many promising sectors and contribute to increasing local content by creating partnerships with the private sector, in addition to injecting at least 150 billion riyals annually into the local economy. PIF works to transfer technologies and localize knowledge to build a prosperous and sustainable economy in Saudia Arabia. As the investment arm of Saudi Arabia, the Fund looks to make unique investments, and is building strategic alliances and partnerships with prestigious international institutions and organizations, which contribute to achieving real long-term value for the Kingdom in line with the objectives of Vision 2030. PIF has also created an operational governance model that reflects its main tasks and objectives, in line with best international practices. Applying this model of governance enhances the level of transparency and effectiveness in decision-making and future progress.
SGG aims to become the leading games and esports group domestically and internationally, and will work to further develop an integrated ecosystem for the sector.
To achieve its ambitious future plans, SGG has acquired ESL, a leading global organizer of entertainment and esports events, and FACEIT, a top digital esports platform, and has merged them to form the “ESL FACEIT Group,” which will help achieve SGG’s objectives in the sector. Closing of the transactions is subject to regulatory approvals.
The launch of Savvy Gaming Group is in line with PIF’s 2021-2025 strategy, which aims to enable promising industries and sectors such as entertainment, leisure and sports, as well as create opportunities for the growth and diversification of Saudi Arabia’s economy, to help achieve the objectives of the Kingdom’s Vision 2030.
About PIF
The Public Investment Fund (“PIF”) is one of the largest and most impactful sovereign wealth funds in the world. Since 2015, when the Board was reconstituted and oversight transferred to the Council of Economic and Development Affairs, the Fund’s board of directors has been chaired by HRH Prince Mohammed bin Salman Al Saud, Crown Prince, Deputy Prime Minister and Chairman of the Council for Economic and Development Affairs. By the end of Q4 2021, PIF’s Assets under Management amounted to more than 1.8 trillion Saudi riyals. The Fund plays a leading role in advancing Saudi Arabia’s economic transformation and diversification, as well as contributing to shaping the future of the global economy. Since 2017, the Fund has established 47 companies and created, directly and indirectly, more than 450,000 jobs as at the end of 2021.
PIF is building a diversified portfolio by entering into attractive and long-term investment opportunities in 13 strategic sectors in Saudi Arabia and globally. The Fund's strategy, as set out in the PIF Program 2021-2025 - one of the Vision 2030 realization programs - aims to enable many promising sectors and contribute to increasing local content by creating partnerships with the private sector, in addition to injecting at least 150 billion riyals annually into the local economy. PIF works to transfer technologies and localize knowledge to build a prosperous and sustainable economy in Saudia Arabia. As the investment arm of Saudi Arabia, the Fund looks to make unique investments, and is building strategic alliances and partnerships with prestigious international institutions and organizations, which contribute to achieving real long-term value for the Kingdom in line with the objectives of Vision 2030. PIF has also created an operational governance model that reflects its main tasks and objectives, in line with best international practices. Applying this model of governance enhances the level of transparency and effectiveness in decision-making and future progress.
