RIYADH – 14 January 2025: Savvy Games Group (Head Office: Riyadh, Kingdom of Saudi Arabia, CEO: Brian Ward; hereinafter “Savvy”) and SBI Holdings, Inc. (Head Office: Minato-ku, Tokyo; Representative Director, Chairman, President & CEO: Yoshitaka Kitao; hereinafter “SBI Holdings”) announced the signing of a Memorandum of Understanding (MoU) for cooperation primarily in the games sector, where Japan excels and Saudi Arabia has ambitions to become a global leader.
Savvy, wholly owned by the Public Investment Fund (PIF), is Saudi Arabia’s National Champion for Games and Esports, with a mission to drive the long-term growth and development of the broader games and esports industry worldwide. A key strategic focus for Savvy is to help build Saudi Arabia’s domestic games and esports ecosystem, which includes establishing and facilitating partnerships and collaborations with international games companies to support them access the KSA and MENA markets better and foster mutually beneficial cooperation.
SBI Group provides financial services – such as securities, banking, and insurance through internet-based channels – also invests in venture companies across a wide range of fields, including gaming both in Japan and overseas, through its Investment Business operated by SBI Investment and others. Additionally, through SBI Digital Hub, which operates Web3-related business, the Group has advanced into the gaming domain, including esports team and VTuber management, thus possesses extensive expertise in these areas.
Recognizing the immense potential in the games sector, Savvy and SBI Holdings will work towards implementing the following initiatives based on the MoU signed today:
- SBI Group will introduce Japanese games companies from its Group companies, business partners, and portfolio companies to Savvy, and explore potential collaboration that supports Saudi Arabia’s Vision 2030 goals and objectives
- Savvy will provide strategic guidance and insights to Japanese games companies introduced through the SBI Group by leveraging its expertise, local network, and partnerships, and support their market entry into Saudi Arabia and the broader MENA region with a focus on effective localization
Brian Ward, CEO of Savvy Games Group, said “We are delighted to have entered into this partnership with SBI Holdings, a major Japanese corporation that excels in a number of different sectors. We look forward to establishing meaningful relationships with their portfolio companies and partners who operate in the games sector, and work together to create tangible outcomes both for Saudi Arabia and for the Japanese companies who are looking to access the MENA market better.”
Yoshitaka Kitao, Representative Director, Chairman, President & CEO of SBI Holdings said “I believe that the rapidly growing gaming industry will play an ever-increasing role in society, as games with unprecedented characteristics are developed using new technologies, such as blockchain games and NFT conversion of in-game assets, coupled with virtual space technologies such as Metaverse. In line with this, as more sophisticated payment systems are required as the backbone of the expanding ecosystem, there will be significant synergies with the SBI Group’s next-generation digital financial service business. In this environment, we are delighted to be working with Savvy Games Group, a leading global player based in Saudi Arabia, one of the largest markets in the world with over 70% of the population being gamers.”
Through this partnership, Savvy and SBI Holdings will endeavor to build a strong, enduring relationship in the games sector that positively contributes to the overall relations between Japan and Saudi Arabia.
