DUBAI (HRNW) — Saudi Arabia, the new home of some of soccer’s biggest stars and a co-owner of professional golf, is proving to be no less ambitious when it comes to another global pastime – the $180 billion-a-year video game industry.
Last September, the Saudi sovereign wealth fund earmarked nearly $40 billion for a new conglomerate aimed at transforming the kingdom into the “ultimate global hub” for games and esports by 2030. In February, the Saudi fund became the biggest outside investor in Nintendo, and just this month the kingdom hosted a major gaming tournament with a record $45 million prize pool.
That’s made Saudi Arabia an increasingly important player in the industry and contributed to its breakneck transformation from an insular kingdom best known for oil and ultraconservative Islam into an emerging sports and entertainment powerhouse.