Saudi-owned mobile gaming company Scopely has agreed to acquire a majority stake in Turkish studio Loom Games in a transaction valued at up to $1 billion, contingent on performance milestones.
The deal reinforces Saudi Arabia’s strategy to position itself as a major global player in the video gaming industry, leveraging state-backed capital to expand across development, publishing and esports.
Founded in Istanbul last year, Loom Games developed the mobile puzzle title Pixel Flow!, which attracted 10 million users shortly after its launch in the fall, according to Scopely. The studio’s founders, Kübra Gündoğan and Emre Çelik, will continue to lead the approximately 20-person team in Turkey.
Scopely, headquartered in California, is known for high-grossing mobile titles including Monopoly Go! and Pokémon Go. The company is owned by Savvy Games Group, which is backed by Saudi Arabia’s Public Investment Fund (PIF).
The acquisition adds to Savvy’s broader push to build influence across the global gaming value chain. Established in 2021, Savvy consolidated Saudi gaming investments and shifted the kingdom’s approach from passive equity stakes to operational ownership. It acquired esports platform ESL FACEIT in 2022 and Scopely in 2023.
Gaming has emerged as a strategic sector within Saudi Arabia’s economic diversification agenda. According to Niko Partners, about 62% of Saudi citizens identify as gamers, playing weekly or daily.
The Loom deal also highlights Turkey’s growing reputation as a mobile gaming hub. Turkish studios have demonstrated strength in casual and puzzle gaming, supported by lean development models and strong monetisation expertise. Zynga acquired Turkish developer Peak Games for $1.8 billion in 2020, while Dream Games reached a $5 billion valuation last year.
The transaction is structured as an earn-out, with the $1 billion valuation linked to Loom achieving specific performance targets. Such milestone-based deals are common in high-growth gaming segments, where user engagement and monetisation metrics significantly impact valuation.
The move signals Saudi Arabia’s intent to continue investing in emerging studios capable of producing globally competitive intellectual property, strengthening its footprint in the evolving mobile gaming industry.
