What's being considered
People familiar with the talks say PIF is studying a combination of Electronic Arts and Savvy Games to bring its gaming assets into tighter alignment and build one of the largest players in the space. That scenario would house franchises such as Madden NFL and Pokemon Go within one corporate parent. The aim under discussion: a single platform that can buy studios, develop titles, and commercialize intellectual property across the $214 billion video game market.
Spokespeople for PIF and EA declined to comment. Savvy did not reply when asked for comment.
Timing, approvals and precedent
A deal is viewed as unlikely until after Savvy completes its $6 billion purchase of Chinese mobile-game company Moonton. Any combination would have to navigate regulatory checkpoints, and major gaming tie-ups have frequently drawn antitrust scrutiny, including Microsoft's $69 billion acquisition of Activision Blizzard.
How the pieces fit and who's involved
Last year, PIF spearheaded the acquisition of Electronic Arts - the company behind Battlefield and The Sims - a record $55 billion deal that has since closed. Savvy has been building a portfolio for years, tapping $38 billion from PIF to acquire Scopely for $4.9 billion and to purchase Niantic's games business for about $3.5 billion. A potential tie-up could also give EA more traction in mobile after analysts questioned its decision to cancel the mobile titles it acquired via the $2.1 billion Glu Mobile deal in 2021.
Gaming is central to Saudi Arabia's economic diversification push, a priority backed by Crown Prince Mohammed bin Salman, who is himself a keen gamer. PIF is financing much of Vision 2030 and has recently shifted away from riskier bets toward a more disciplined investment approach, while tightening oversight of portfolio companies. Earlier this month, Savvy CEO Brian Ward left the firm.
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PIF Deputy Governor Turqi Alnowaiser, who also heads international investments, took over as interim CEO and was the public face of PIF's negotiations on the EA deal. Ward, who has headed Savvy since 2021, stated that he was not involved in that transaction.
What this could mean for your portfolio
If PIF proceeds, the combined company would sit among gaming's heavyweights and could expand EA's reach in mobile. The three signals to watch: whether the Moonton buy closes as planned, how regulators respond, and how tightly PIF continues to manage its holdings as it zeroes in on returns. For everyday investors, those clues will help frame where future growth - and potential bumps - could show up next.
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