Saudi Money Makes a Big Splash in Video Games – The New York Times

For struggling American video game companies, Saudi Arabia’s investments in the industry have been hard to resist. Not all gamers are happy about it.
The eight-week Esports World Cup is a coming-out party for Saudi Arabia’s growing video game industry. Credit…
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By Eli Tan
Photographs by Katarina Premfors
Eli Tan reports on the video game industry.
The fans flooded through the streets of Riyadh, Saudi Arabia, by the thousands, kept cool by mist machines in the 110-degree heat. A 30-foot-tall replica gold trophy towered over onlookers at the city’s center. For a moment, covered in beams of brightly colored light, a country defined by tradition looked futuristic.
It was the inaugural Esports World Cup, a coming-out party for Saudi Arabia’s growing video game industry. As part of its plan to diversify its economy from oil, the Saudi government has said it will invest $38 billion in video games by 2030 through its Public Investment Fund, known as the P.I.F., a wealth fund that manages $700 billion.
The wealth behind that commitment was on full display in Riyadh, the Saudi capital, this month, but the country’s influence in video games now extends far beyond its borders. In what has been a financially difficult year for the industry, which has seen mass layoffs, many of the world’s largest video game companies and influencers have quietly partnered with the oil-rich Saudis.
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