PIF’s Savvy's revenue lifted by Scopely acquisition: CEO

Savvy Games Group, which is owned by the Public Investment Fund, saw strong financial performance, thanks to the robust growth witnessed by games publisher and developer Scopely, both organically or through acquisitions, said CEO Brian Ward.

 

The “Monopoly Go!" game was the largest contributor to revenues, with more than $2 billion within 10 months of its launch, he added, in an interview with Argaam.

 

 

The impact of acquiring Scopely, which has become the number one mobile gaming company in the US and the fourth in the world (excluding China), places Savvy Group as the tenth largest publisher in terms of net revenues globally, as this is due to strong growth and attracting players with a variety of games, according to Ward.

 

He pointed out that Scopely helped Savvy become a leading force and the tenth largest company in global game development within two and a half years, noting that, after the acquisition and formation of ESL FACEIT Group (EFG) in the first year, the strategic focus in the second year was to consolidate its position in the sector.

 

Meanwhile, Ward said that the Esports World Cup is considered the largest and most important esports event ever, as it boosts the Kingdom’s leading position in the field of investment and development of the gaming and esports sector globally.

 

The tournament is managed by Savvy's esports division EFG and will serve as a major event in the global gaming and esports calendar, said Ward, indicating that it is part of the national and group strategy to position the Kingdom as a global hub for gaming and esports.

 

The tournament is expected to create job opportunities, transfer knowledge, and enhance tourism, in addition to supporting the growth and development of the e-sports ecosystem at the local and global levels.

 

The Esports World Cup offers the largest total prize pool ever in the history of esports ($60 million), which underscores the commercial value of esports and provide sustainable career options for players and clubs. It includes competitions in all popular esports, including 22 of the most popular games on the Internet, which is beyond anything the gaming industry has ever seen.

 

Ward also stressed the importance of innovation in electronic games, which Scopely is known for, which has led to the development of successful games such as “Star Trek Fleet Command” and “Marvel Strike Force.” This commitment can help Savvy Group build a positive public image and attract a new generation of players.

 

As for the future investment plans of Savvy Group in the sector, Ward said that it is focused on transforming the Kingdom into a global hub for gaming and e-sports through cooperation with partners in the public and private sectors, attracting foreign investments, creating job opportunities, and providing training and development programs.

 

Furthermore, the group plans to strengthen its position at the forefront of the esports industry by supporting the EFG Group, which has a global market share of 40%, in addition to Savvy's 30% investment in VSPO, the leading esports company in China and Southeast Asia, he added.

 

Savvy Group will also continue to support Scopely's ambitious growth plans, including the successful acquisitions that Scopely made previously, as well as searching for additional growth opportunities in the gaming field through acquisitions or other investments, the CEO stated.

 

He noted that Savvy's local development studio, Steer Studios, launched its first game, “Grunt Rush,” and is currently working on a second project, stressing that the group still holds about 75% of the capital allocated for investment, which provides it with the ability to support future growth plans.