Savvy Games Group
Savvy Games Group business and news from across the web.
Crown prince of Saudi Arabia's Electronic Gaming Development Company acquires 5% stake in CapcomSaudi Arabia's Electronic Gaming Development Company (EGDC), a subsidiary of the Misk Foundation, has acquired a 5% stake in Capcom, reportedly as a pure investment. This follows a similar acquisition of Capcom shares by the Public Investment Fund (PIF) in 2022. The article also includes commentary from Hasbro CEO Chris Cocks on the challenges and future of the video game industry, including cost inflation, talent acquisition, and the potential of AI.
Godot veteran laments 'AI slop,' Highguard's mystery investor, and a big doc for Big Hops - Patch Notes #41This week's gaming news highlights concerns over generative AI's impact on hardware availability and the influx of low-quality submissions to open-source projects like Godot. Unity claims its AI can now generate full casual games from prompts, while a documentary explores the six-year development of the indie platformer Big Hops. Other news includes Hasbro shutting down its Atomic Arcade studio, Tencent's secret funding of Highguard, a banned Call of Duty ad, ByteDance potentially selling Moonton, and Valve warning of Steam Deck OLED stock issues due to RAM shortages.
Scopely acquires majority stake in Pixel Flow! developer Loom GamesScopely has agreed to acquire a majority stake in Loom Games, the developer behind the successful mobile title Pixel Flow!, for an undisclosed sum valuing the studio at over $1 billion. This acquisition aims to expand Scopely's portfolio and its presence in the EMEA region, while Loom Games will maintain creative autonomy.
ByteDance reportedly in "advanced talks" to sell Mobile Legends dev Moonton Technology to Savvy Games for over $6bnByteDance is reportedly in advanced negotiations to sell its mobile game developer Moonton Technology, known for Mobile Legends, to Savvy Games Group for over $6 billion. The deal, which could close this quarter, would signify ByteDance's significant withdrawal from the online gaming sector. Savvy Games Group, backed by Saudi Arabia's Public Investment Fund, has existing investments in several major gaming companies.