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NEOM and MBC Initiatives develop joint venture video game studio in NEOM

Saudi authorities are also planning to establish an esports academy as part of the NEOM smart city development.  Saudi Arabia’s General Authority for Competition (GAC) has approved a project to implement, manage, operate and develop a video game studio in NEOM.  The joint venture between NEOM and MBC Initiatives – which is wholly-owned by MBC Group Holding Ltd – will be the first AAA video gaming project in the Middle East.

The authority gave approval to the economic concentration process between the two entities following a study of the Kingdom’s video game market and the issues concerning competition in the sector.
 

Read the full story at Broadcast Pro ME