True Gamers, a leading eSports company based in the UAE, has embarked on a groundbreaking $45 million deal with Nawaf Albishri, CEO of Falak, a venture investment firm, to establish 150 gaming centers across Saudi Arabia. This strategic initiative aims to tap into the thriving gaming community in the kingdom, estimated at approximately 21 million gamers, constituting around 58% of the total population.
The franchise agreement outlines plans to unveil the first showroom-style gaming club in Jeddah within the next six months. This move aligns with Saudi Arabia’s proactive efforts to cultivate its gaming industry, highlighted by its aspiration to host the annual Esports World Cup in Riyadh starting from the summer of 2024.
The magnitude of this investment underscores the substantial economic potential perceived in Saudi Arabia’s gaming sector. With an expected contribution of 50 billion Saudi riyals (equivalent to $13.3 billion) to the country’s GDP over the next six years, this initiative harmonizes with the broader Vision 2030 agenda. This ambitious national strategy aims to diversify the Saudi economy, reducing dependence on oil revenue and fostering growth in non-oil sectors.
The gaming centers are poised to evolve into focal points for the local gaming community, offering not only entertainment but also making a significant contribution to the nation’s economic landscape. The partnership between True Gamers and Falak mirrors the global acknowledgment of the Middle East, particularly Saudi Arabia, as an emerging 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.