The government-funded Savvy Gaming Group announced a $1 billion investment in the Embracer Group, the gaming corporation that most recently acquired the rights for Tomb Raider and the main studio behind that series.
The purchase gives Savvy an 8.1% share of the company and 5.4% of the voting power.
Embracer CEO Lars Wingefors described the investment as an opportunity to expand Embracer’s reach into the Middle East and North Africa region, “either organically, via partnerships, joint ventures, or via acquisitions of companies led by strong entrepreneurs."
Between the lines: It’s at least the seventh big spend on gaming this past year by the kingdom under Crown Prince Mohammed bin Salman.
