True Gamers, a UAE-based eSports company, has entered into a groundbreaking $45 million deal with Nawaf Albishri, CEO of Falak, a venture investment firm, to establish 150 gaming centers across Saudi Arabia. The strategic move aims to tap into the burgeoning gaming community in the kingdom, estimated at around 21 million gamers, constituting approximately 58% of the total population.
The franchise agreement outlines plans to inaugurate the first showroom-style gaming club in Jeddah within the next six months. This move aligns with Saudi Arabia’s proactive efforts to develop its gaming industry, exemplified by its ambition to host the annual Esports World Cup in Riyadh from the summer of 2024 onwards.
The scale of this investment signifies the substantial economic potential perceived in Saudi Arabia’s gaming sector. With an anticipated contribution of 50 billion Saudi riyals (equivalent to $13.3 billion) to the country’s GDP over the next six years, this initiative aligns with the broader Vision 2030 agenda. This ambitious national strategy seeks to diversify the Saudi economy, reducing its reliance on oil revenue and fostering growth in non-oil sectors.
The gaming centers are poised to become hubs for the local gaming community, providing not only entertainment but also contributing significantly to the nation’s economic landscape. The partnership between True Gamers and Falak reflects the global recognition of the Middle East, particularly Saudi Arabia, as a burgeoning market for esports and gaming-related ventures. As the country actively embraces this digital frontier, the collaboration positions True Gamers as a key player in shaping the future of gaming in the region, ushering in a new era of interactive entertainment and economic prosperity.