Niantic, the creator of the iconic Pokemon Go, has struck a $3.5 billion deal to sell its gaming division to Scopely. This acquisition amplifies Saudi Arabia's ongoing investment in the gaming sector, driven by its Public Investment Fund's objective to invest $38 billion in the industry by 2030. Pokemon Go, launched in 2016, continues to have over 20 million weekly active players, demonstrating its enduring popularity. Critics view these investments as attempts by Saudi Arabia to improve its global reputation while diverting from its historical reliance on fossil fuels.
Niantic has agreed to sell its video game business for $3.5 billion to Scopely, marking a significant acquisition in Saudi Arabia's burgeoning gaming industry.
Pokemon Go, which captured the global imagination since 2016, remains immensely popular with over 20 million active weekly players, generating substantial revenue.
The Saudi government’s Public Investment Fund plans to invest $38 billion in the gaming sector by 2030, reflecting its strategy to diversify beyond oil reliance.
Critics argue that Saudi Arabia's investments in gaming and sports serve to enhance its global image amidst ongoing concerns about its human rights record.
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