Saudi Wealth Fund makes second $1 bn bet on Swedish gaming

Saudi Arabia’s wealth fund has made its second $1 billion foray into the Swedish gaming industry this year as part of a drive to build stakes in video game makers and e-sports firms globally.

The Public Investment Fund’s Savvy Gaming Group will become the second largest owner in Embracer Group AB after acquiring almost 100 million shares in the Karlstad-based company. The move follows a similarly sized acquisition in January, when Savvy bought the e-sports division of Modern Times Group at an enterprise value of $1.05 billion. 

The PIF, as the $500 billion fund is known, continues to deepen its push into