Saudis bet big on gaming with $38 billion in long-term investment

Saudi Arabia has “a lot of patient capital” when it comes to developing its games industry, according to Prince Faisal bin Bandar Al Saud, the Chairman of the Saudi Esports Federation.

“A lot of people tell me we notice a lot of the investment you’re doing in esports, but we don’t see a lot of the investments you’re making in gaming,” Prince Faisal told Arabian Business Gulf Insights.

“It’s because to build a games industry takes five to 10 years.”

The kingdom, which is currently hosting the Esports World Cup in Riyadh with a record-breaking $71.5 million prize pool, has earmarked $38 billion from the Public Investment Fund for building out the industry via its homegrown Savvy Games Group.