Last September, the Saudi sovereign wealth fund earmarked nearly $40 billion for a new conglomerate aimed at transforming the kingdom into the “ultimate global hub” for games and esports by 2030. In February, the Saudi fund became the biggest outside investor in Nintendo, and just this month the kingdom hosted a major gaming tournament with a record $45 million prize pool.
That’s made Saudi Arabia an increasingly important player in the industry and contributed to its breakneck transformation from an insular kingdom best known for oil and ultraconservative Islam into an emerging sports and entertainment powerhouse.
The move into gaming has sparked the same kind of backlash seen in soccer and golf, where critics accuse the Saudis of “sports washing” human rights abuses, including the 2018 killing of Washington Post columnist Jamal Khashoggi, a Saudi dissident.
With gaming, a kingdom that sentences people to decades in prison over a few tweets is joining a worldwide community dominated by the young and very online.
“It’s the Romans and the Colosseum all over again, and you have countries at the top layer using sports as a theater to display their wealth and their power,” said Joost van Dreunen, a professor at New York University who has written a book about the business of video games.
“You have to ask the question: Who is the architect behind this, and what are the intentions of these architects?” he said.
Saudi Arabia’s 37-year-old Crown Prince Mohammed bin Salman, reportedly an avid gamer himself, sees the foray into gaming as part of Vision 2030, his ambitious plan to overhaul the kingdom’s economy, reduce its reliance on oil and provide jobs and entertainment for its youthful population.
This story is from the {{IssueName}} edition of {{MagazineName}}.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the {{IssueName}} edition of {{MagazineName}}.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Sign In
SOUTH KOREA FINES META $15 MILLION FOR ILLEGALLY COLLECTING INFORMATION ON FACEBOOK USERS
South Korea’s privacy watchdog this week fined social media company Meta 21.6 billion won ($15 million) for illegally collecting sensitive personal information from Facebook users, including data about their political views and sexual orientation, and sharing it with thousands of advertisers.
CHINESE ONLINE RETAILER TEMU FACES EUROPEAN UNION INVESTIGATION INTO ROGUE TRADERS AND ILLEGAL GOODS
Chinese online retailer Temu is facing a European Union investigation over suspicions it’s failing to prevent the sale of illegal products, the 27-nation bloc’s executive arm said.
CORNING FACES EU ANTITRUST SCRUTINY OVER GORILLA GLASS DEALS WITH PHONE MAKERS
Corning is facing European Union antitrust scrutiny after the bloc’s watchdog said this week it’s investigating the speciality glass maker’s exclusive deals for its Gorilla Glass used in cellphones.
NEW CEO AT CVS BEGINS TO BUILD HIS TEAM WITH A GOAL OF REVIVING THE STRUGGLING HEALTH CARE GIANT
CVS Health fell short on third-quarter profit, but it posted strong sales and the health care giant shook up leadership under new CEO David Joyner after a rough year that has sent shares plunging.
NINTENDO REPORTS LOWER PROFITS AS DEMAND DROPS FOR ITS AGING SWITCH CONSOLE
Nintendo, the Japanese video game maker behind the Super Mario franchise, said Tuesday that its profit fell 60% in the first half of the fiscal year, as demand waned for its Switch console, now in its eighth year since going on sale.
AS THE DATA CENTER INDUSTRY BOOMS, AN ENGLISH VILLAGE BECOMES A BATTLEGROUND
Originally built to store crops from peasant farmers, the Tithe Barn on the edge of the English village of Abbots Langley was converted into homes that preserve its centuries of history.
THE BEST SMALL SUVS FOR CITY DRIVING
SUVs are popular in part due to their elevated ride height, commanding view of the road, and roomy interiors.
GOOGLE MAPS ADDS AI FEATURES TO HELP USERS EXPLORE AND NAVIGATE THE WORLD AROUND THEM
Google Maps is heading down a new road steered by artificial intelligence.
TESLA SHARES SOAR 14% AS TRUMP WIN SETS STAGE FOR ELON MUSK'S ELECTRIC VEHICLE COMPANY
Shares of Tesla soared following an election that will send Donald Trump back to the White House, an outcome that has been strongly backed by CEO Elon Musk in the closing months of the race.
APPLE BREAKS OUT OF RECENT SALES SLUMP AS IT GEARS UP TO MAKE ITS LEAP INTO THE AI CRAZE
Apple snapped out of a recent iPhone sales slump during its summer quarter, an early sign that its recent efforts to revive demand for its marquee product with an infusion of artificial intelligence are paying off.