After the huge success of their mobile game Monopoly Go, Savvy Games Group from Saudi Arabia wants to put even more money into making and buying mobile games. The CEO, Brian Ward, said they’re focusing on this because it’s been really profitable. They recently bought a company called Scopely for almost $5 billion, and now Scopely is going to be their main way of investing in games.
They’ve already made a lot of money from Monopoly Go, and now they want to make even more by expanding Scopely. Savvy Games Group has a lot of money to spend on this – $38 billion! But they’re not in a hurry to use it all up. They want to make sure they invest it wisely. They’ve also been working on their own games, and they’re putting a lot of emphasis on making games for phones first.
Key Points:
- Monopoly Go Success: Savvy Games Group saw a big win with Monopoly Go, a mobile game that made them a lot of money. This success encouraged them to invest more in mobile game development and acquisitions.
- Acquisition of Scopely: Last April, Savvy acquired Scopely, a mobile game maker, for almost $5 billion. Scopely played a significant role in the success of Monopoly Go and is now positioned as the centerpiece of Savvy’s investment strategy.
- Investment Strategy: Savvy Games Group, wholly owned by Saudi Arabia’s Public Investment Fund, aims to transform the nation into a gaming industry hub. They announced a substantial funding of $38 billion in 2022, of which $8.3 billion has been invested so far.
- Scopely’s Role: Scopely is expected to lead Savvy’s investment strategy in mobile gaming. The company’s CEO, Brian Ward, emphasized empowering Scopely to excel in its operations, indicating a hands-off approach from Savvy.
- Marketing and Revenue: Scopely heavily invested in marketing Monopoly Go, spending nearly $500 million, which resulted in acquiring a large user base and significant revenue generation, surpassing typical scales in Western mobile gaming.
- Mobile-first Approach: Savvy Games Group is adopting a mobile-first approach, reflecting the growing dominance of mobile gaming over traditional console gaming.
- Esports Investments: Savvy initially invested in esports, forming ESL Faceit Group, but faced challenges due to the industry’s struggle to attract audiences and sponsors. Despite setbacks, they continue to organize events like Saudi Arabia’s Esports World Cup with substantial prize pools.
- Investment in Embracer Group AB: Savvy also invested in Embracer Group AB but pulled out of a significant deal worth $2 billion due to disappointing results. However, they remain optimistic about Embracer’s potential despite undergoing restructuring.
About Savvy Games Group
Savvy Games Group is a company focused on the global growth and development of the games and esports industry. Here are some key points about the company:
- Global Mission: Savvy Games Group aims to drive the long-term growth and development of esports and the broader games industry worldwide, recognizing the sector as one of the most exciting and buoyant globally.
- Investment Strategy: The company is one of the most active investors in the games industry, making commercially-driven acquisitions to build and strengthen its partners’ core competencies.
- Executive Leadership: Led by CEO Brian Ward, with over 25 years of experience in the games industry, the executive team includes seasoned professionals from various sectors, all sharing the business vision.
- Inclusive Approach: Committed to expanding the positive benefits of games, Savvy Games Group is dedicated to creating more opportunities for participation and progression across diverse demographics.
About Scopely
Scopely, Inc. is an American interactive entertainment company and mobile-first video game developer and publisher. The company is headquartered in Culver City, California, with offices across the US, EMEA, and Asia. Here are some key points about Scopely:
- Founding and History:
- Scopely was founded in 2011 by Walter Driver, Ankur Bulsara, Eric Futoran, and Eytan Elbaz.
- Eytan Elbaz previously co-founded Applied Semantics, which was later acquired by Google in 2003.
- Ankur Bulsara was a software developer at MySpace.
- In 2014, former Disney Interactive and Electronic Arts executive Javier Ferreira joined Scopely.
- Former Disney Interactive executive Tim O’Brien also joined as the chief revenue officer.
- Scopely has both internal game development studios and partners with external studios to create free-to-play games.
- They also collaborate with intellectual property holders to create video games based on popular entertainment brands.
- Acquisitions and Milestones:
- In 2019, Scopely acquired Dublin-based DIGIT game studios, their collaborator on the mobile 4x strategy game Star Trek Fleet Command.
- The company surpassed $1 billion in lifetime revenues in June 2019.
- In January 2020, Scopely purchased FoxNext Games Los Angeles and its RPG game MARVEL Strike Force, along with Cold Iron Studios, from The Walt Disney Company.
- Scopely later sold Cold Iron Studios to Daybreak Game Company.
- In April 2020, Scopely acquired PierPlay game studio, their collaborator on the mobile word game Scrabble GO.
- In October 2021, Scopely acquired Game Show Network’s online gaming division (GSN Games) from Sony in a $1 billion cash and stock deal. Sony Pictures took a minority stake in the company as a result.
- In July 2023, Savvy Games Group, a wholly owned subsidiary of Saudi Arabia’s Public Investment Fund (PIF), acquired Scopely for $4.9 billion.
- Current Status:
- As of 2024, Scopely has 15+ locations and approximately 2,000 employees.
- They continue to develop and publish a diverse portfolio of games for casual and core gamers.
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