"Revealed: Saudi-backed Savvy Games Behind Embracer Group's $2 Billion Deal Collapse"

Saudi government-funded Savvy Games Group has been identified as the mystery party that pulled out of a $2 billion partnership with Embracer Group. The deal, which would have included over $2 billion in contracted development revenue over a six-year period, collapsed following seven months of negotiations. Savvy Games Group had previously acquired an 8.1 percent stake in Embracer for $1 billion. The company was established using the Public Investment Fund (PIF), the sovereign wealth fund of Saudi Arabia, and has made significant investments in the gaming industry.