Saudi Arabia's rapidly expanding gaming market is set for a substantial boost as Dubai-based e-sports brand, True Gamers, secures a franchise deal worth $45 million with investment firm Falak, according to reports from Meed.
The substantial investment aims to establish 150 e-sports clubs across Saudi Arabia, tapping into a market projected to grow by over 8% annually for the next three years. Analysts anticipate the market to reach a value of $1.3 billion by 2027.
The first of these e-sports venues, a direct result of the True Gamers-Falak deal, is expected to open its doors within the next six months in Jeddah. Ambitious plans include the establishment of ten venues throughout the Kingdom by the end of 2024. Additionally, True Gamers aims to leverage its expertise as an event organiser in the UAE, where it currently hosts tournaments, to bring similar events to gaming enthusiasts across Saudi Arabia.
True Gamers sees this significant deal as a potential game-changer, poised to play a pivotal role in propelling the growth of Saudi Arabia's e-sports industry. The objective is not only to foster a vibrant gaming community within the Kingdom but also to make it accessible to a broader audience in Saudi Arabia and beyond.
This strategic move aligns with Saudi Vision 2030, particularly the National Gaming and Esports Strategy, which seeks to create 39,000 jobs and unlock over $13.3 billion in value by the end of the decade.
The investment from True Gamers follows a series of strategic developments within Saudi Arabia's e-gaming sector, demonstrating the nation's commitment to advancing this aspect of Saudi Vision 2030. In December 2023, plans for a state-of-the-art e-sports arena within the multi-billion dollar Qiddiya entertainment district in Riyadh were unveiled. This arena, with a seating capacity of over 5,000, is set to feature cutting-edge technology, including one of the world's largest areas of video screens and 4D haptic seating.
Anticipated to attract around 10 million visitors annually, the Qiddiya entertainment district will not only include the e-sports arena but also gaming-themed hotels and apartments, further solidifying Saudi Arabia's position as a global force in competitive gaming. The inclusion of e-sports-focused categories in the upcoming Arab Game Awards underscores the nation's rising prominence in the international gaming landscape.