RIYADH – The estimated value of the video games market in Saudi Arabia is valued about $1 billion and the Kingdom aims to boost the market value up to $2.5 billion by 2030, Social Development Bank (SDB) said.

SDB’s Executive Vice President in Business Division Sultan Al-Hamidi told alarabiya.net: "The goal of Saudi government is to continuously support this important and dynamic sector, in addition to increasing investment in it.”

He added: "This support resulted in the ‘Savvy Gaming Group (SGG)’ launched by the Public Investment Fund (PIF), a group that focuses largely on the gaming sector, as it will facilitate business owners to invest in the sector.”

SGG aims to become the leading gaming and esports group locally and internationally.

Al-Hamidi made his comments on the sidelines of the "Dulani Compass" event, which was launched on Sunday in Riyadh under the title "Video Games and Esports". The event was presented by Dulani Business Center that brought together entrepreneurs and freelancers with experts and investors.

The event had activities that includes discussion sessions that was given by professionals in video games and esports to share and exchange knowledge about the industry.

Many modern projects were presented in the event’s exhibition, and a sector was dedicated for consultations in the fields of marketing, finance, business development, legal and operational advice for project owners by professionals consultants.

The event presented workshops to business owners and relevant parties in the video games and esports sector, aims to offer recommendations that contribute to the level up the industry. In addition, the visitors had the opportunity to try out VR games in "Live the Experience" area. — SG