Saudi PIF shifts $12B gaming stakes to Savvy as portfolio gets consolidated

Saudi Arabia’s Public Investment Fund (PIF) is shifting roughly $12 billion worth of listed gaming shares to its subsidiary, Savvy Games Group.

The move covers stakes in major companies, including Nintendo Co. and Bandai Namco Holdings Inc., according to a Bloomberg report.

The transfer consolidates the kingdom’s gaming investments under one vehicle, as Savvy continues to position itself as a key pillar in Saudi Arabia’s strategy to diversify away from oil.

Even after the handover, Savvy is expected to keep taking a largely passive approach to these holdings, rather than pushing for influence inside the companies.

The shift also gives Savvy a clearer structure for managing stakes across Asia’s biggest gaming companies, while aligning future dealmaking with Saudi Arabia’s broader digital entertainment ambitions.

Savvy becomes the centre of PIF’s games portfolio

Once the transfers are completed, Savvy is set to hold about 10% stakes in several gaming firms, including Koei Tecmo Holdings Inc., NCSoft Corp., Nexon Co., and Square Enix Holdings Co., said the Bloomberg report, citing a company document.

Savvy was established in 2021 and has been positioned as one of the main channels for Saudi Arabia’s long-term growth push in gaming and esports.

The company still has billions of dollars available for future investments across the gaming sector.

A $38 billion investment war chest remains in play

Savvy has around $38 billion earmarked for gaming investments.

It has already used that capital to build a wider footprint across competitive gaming, buying Monopoly Go developer Scopely Inc., Pokemon Go developer Niantic, and multiple esports organisations.

Monopoly Go became a breakout hit and helped boost the profile of Savvy’s portfolio.

However, not every bet has worked as planned.

Some of the company’s esports investments have faced challenges, and Savvy has also laid off staff as it reassessed parts of its competitive gaming exposure.

Take-Two stake already shifted, while EA deal stays separate

In a late-December regulatory filing, the PIF confirmed it moved its 11 million shares of Take-Two Interactive Software Inc. to Savvy.

Separately, Bloomberg reported, citing a person familiar with the buyout, that the PIF is also the largest investor in Electronic Arts Inc.’s $55 billion buyout.

However, Savvy is not involved in that transaction.

No change planned to the investment strategy

Savvy is expected to follow the PIF’s hands-off playbook once the holdings are fully transferred.

The company has no plans to become an active investor in the companies it owns shares.

The transfer has been in the works for an extended period, according to Amar Batkhuu, a spokesperson for Savvy.

He said the move will place oversight of the PIF’s gaming investments under Savvy, which he described as a leading gaming entity for the fund and a key pillar of the National Gaming and Esports Strategy. Batkhuu added that there are no plans to alter the existing investment approach.