Saudi Arabia’s sovereign wealth fund-backed Savvy Games Group will invest $265mn in Chinese esports company VSPO, in the kingdom’s latest push into the gaming market.
The deal announced on Thursday would give Savvy a minority stake and make it VSPO’s single largest equity holder, the company said.
Saudi Arabia has ambitions to become a top gaming hub and created Savvy to invest in and develop the industry in the kingdom with a war chest of more than $30bn.
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