What's Happening?
Saudi Arabian mega-city project Qiddiya has fully acquired RTS, the organizer of the Evolution Championship Series (Evo), a popular fighting game tournament. The acquisition was announced by Qiddiya's Chief Strategy Officer Muhannad Aldawood on social media. Financial details of the deal were not disclosed. This move follows Qiddiya's previous investment in RTS and its role as a global partner of Evo in 2024. The acquisition is part of Qiddiya's strategy to strengthen its esports business and expand opportunities within the gaming ecosystem.
Why It's Important?
The acquisition of RTS by Qiddiya represents a significant expansion of Saudi Arabia's influence in the global esports industry. It highlights the country's ongoing efforts to diversify its economy and enhance its cultural footprint through investments in entertainment and sports. This move could lead to increased visibility and development of esports in the region, potentially attracting more international events and partnerships. However, it also raises concerns about 'sports washing,' where entertainment investments are used to distract from human rights issues.