RIYADH: Saudi Arabia-owned Scopely’s recent $1 billion acquisition of Turkish puzzle-game developer Pixel Flow underscores the Kingdom’s accelerating push into the $100 billion global gaming market.
The acquisition of the nascent company is part of the Kingdom’s broader economic strategy to tap into entertainment, gaming, and creative industries as it seeks to diversify its economy and boost non-oil sectors.
Through a mix of global acquisitions, domestic financing platforms, subsidies, and talent development programs, the Kingdom is building a new growth engine designed to create jobs, stimulate private-sector investment, and secure long-term non-oil revenue under Vision 2030.
The Pixel Flow deal is the latest in a series of international gaming investments backed by the Public Investment Fund. The PIF has deployed billions of dollars into global publishers and developers, positioning itself as a formidable player in interactive entertainment.
“A large economy cannot rely on a single revenue source, especially one as volatile as oil, which is subject to price and production fluctuations that can affect long-term stability,” Talat Hafiz, economist and financial analyst, told Arab News.
