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True Gamers, a UAE-based operator of eSports clubs, has signed a $45 million deal to open 150 centres across Saudi Arabia in a bid to capitalise on the kingdom’s lucrative gaming sector.
The franchise deal between True Gamers and Nawaf Albishri, the CEO of Falak, a venture investment firm in Saudi Arabia, is targeting the opening of the first showroom-style club in Jeddah within the next six months.
Albishri, who is also the CEO of Saudi-based medical centres Thanaya and Quality, said the deal will resonate perfectly with the Saudi gaming community, with approximately 21 million gamers in the kingdom, accounting for about 58% of the total population.
Saudi Arabia has been making strides in the gaming industry, announcing late last year that it was set to host the Esports World Cup in Riyadh annually, kicking off in the summer of 2024, as the kingdom establishes itself as a hub for global gaming and esports competitions.
In December, Saudi’s Qiddiya City revealed plans to open the world’s first comprehensive gaming and esports district. This project is set to position Saudi Arabia as a global hub for the flourishing gaming and esports industry.
The kingdom expects the gaming sector will contribute 50 billion Saudi Arabia riyals ($13.3 billion) to the country’s gross domestic product by in six years, as part of its Vision 2030 mandate.
(Writing by Bindu Rai, editing by Daniel Luiz)