Saudi gaming sector set to gain 150 esports centers

True Gamers has established key partnerships with industry leaders to cater to the Saudi market, ensuring their lounges feature the latest technology. (Supplied)
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Updated 28 January 2024
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Saudi gaming sector set to gain 150 esports centers

  • UAE’s True Gamers aims to make video gaming more accessible

CAIRO: Saudi Arabia’s gaming industry is poised for a major uplift with UAE-based esports network True Gamers planning to establish 150 centers in the Kingdom.

Established in 2019, the company aims to make video gaming more accessible by combining entertainment, technology, and competitive elements to offer an immersive experience to a wide range of players.

In an interview with Arab News, Vlad Belyanin, co-founder of True Gamers, discussed the strategic expansion plans for Saudi Arabia — which is expected to double the company’s current network.

“True Gamers has been closely monitoring the burgeoning esports and gaming scene in Saudi Arabia, a key player in the MENA region. Recognizing the tremendous potential of this market, we have embarked on a strategic expansion into the Kingdom, aligning with the ambitious Vision 2030 development plan,” Belyanin said. He further stated that True Gamers has reached a major achievement by signing a master franchise deal with entrepreneur Nawaf Al-Bishri, who has a background in healthcare and investment.  

This collaboration marks a $45 million investment to develop a strong esports infrastructure in Saudi Arabia. It includes launching over 150 True Gamers lounges, significantly enhancing the gaming experience for numerous fans and boosting the country’s growing esports scene.

Game on

The inaugural True Gamers lounge, a cutting-edge facility, is set to open in Jeddah in the first half of 2024. This opening marks the beginning of the company’s ambitious expansion efforts, signaling a new phase of immersive gaming experiences for gamers in Saudi Arabia.

“We are employing a franchise strategy to accelerate our expansion across Saudi Arabia,” Belyanin said, he added, “Furthermore, the True Gamers franchise is open to other market players seeking to collaborate with our proven business model and jointly propel the Kingdom’s esports industry.”

Belyanin stated that True Gamers has established key partnerships with industry leaders like Logitech and BenQ to cater to the Saudi market, ensuring their lounges feature the latest technology for an unparalleled gaming experience.  

He also emphasized the company’s openness to future collaborations with other businesses and organizations to further enhance the Kingdom’s gaming ecosystem and elevate the esports scene.

The company has set a goal to open 10 centers in the Kingdom by the end of 2024 and is optimistic about reaching its target of establishing 150 centers by 2030.

Belyanin mentioned that True Gamers is set to launch a series of local and international esports tournaments in Saudi Arabia, following their successful events in Dubai which drew over 1,500 participants.

“These tournaments aim to inspire the younger generation to develop their gaming and social skills, particularly communication and teamwork,” he added. 

These tournaments aim to inspire the younger generation to develop their gaming and social skills, particularly communication and teamwork.

Vlad Belyanin, Co-founder of True Gamers

Belyanin highlighted that True Gamers’ approach is in sync with the expected growth of Saudi Arabia’s gaming industry, projected to hit $2.8 billion by 2026.

“With an estimated 21 million active gamers, constituting a remarkable 58 percent of the country’s population, the Kingdom presents an unparalleled opportunity for True Gamers to revolutionize the gaming landscape,” he added.

To Saudi Arabia and beyond

The company has also embarked on further expansion plans beyond the Kingdom.

In the UAE, the company is independently establishing new clubs, aiming to open more than nine gaming centers this year by establishing a presence in Abu Dhabi and Sharjah.

Talks are also underway for a project in Egypt, with prospects of extending to nearby nations such as Oman, Bahrain, Qatar, and Kuwait.

Business fundamentals

Belyanin noted that True Gamers’ clubs offer a variety of amenities, including automobile simulators, PlayStation lounges, and luxurious VIP capsules.  

Their game library features over 120 titles, including popular games like Fortnite and Valorant. Since its launch, True Gamers has grown significantly, expanding to 124 clubs across the UAE and Eastern Europe, generating over $20 million in revenue, and attracting over 450,000 gamers last year.

The company’s commitment to the esports industry is demonstrated by a $13.5 million investment for expansion in the MENA region.

“Additionally, we have invested over $11 million in creating world-class cybersport infrastructure, ensuring our gamers have access to the best equipment and facilities. This dedication led to a 140 percent growth in 2023, increasing the company’s valuation from $10 million to $24 million, cementing its position as a leader in the esports industry,” Belyanin said.

As the company expands, it is focused on ensuring that both its centers and franchisees consistently achieve growth and progress.

True Gamers is dedicated to supporting offline and online franchisees. The company facilitates a smooth onboarding process through in-person meetings with representatives.  

Additionally, online educational resources provide franchisees with all the essentials, including comprehensive commercial and technical documentation, necessary equipment, training materials, marketing tools, and a detailed brand book.

“Our primary objectives are to foster a thriving gamer community, empower gamers through education, and inspire gamers to pursue professional esports aspirations,” Belyanin said.

The company has not only diversified its offerings but also its business model to secure various sustainable revenue streams.

True Gamers generates consistent income from royalties and direct sales to clients, including ticket sales and memberships. A significant part of its revenue also comes from franchise sales in the MENA and Eastern Europe regions.

Additionally, Belyanin mentioned that the company earns from additional services like marketing, equipment supply, white-label solutions, and sponsorship contracts

Currently, True Gamers is focused on securing strategic investments to support its core operations and is also exploring opportunities for funding its various projects, which encompass new technologies, innovative ideas, and potential partnerships with industry leaders.

A True Gamers emergence  

Belyanin recounted his lifelong passion for video games and esports, starting from his youth spent in internet cafes mastering games like Battlefield Hardline and Counterstrike.  

His entrepreneurial journey began with organizing entertainment events and marketing for parties, where he met his future business partner, Anton Vasilenko, the CEO of True Gamers.  

They recognized a market demand for esports lounges and embarked on the journey in 2019, starting with an $80,000 investment in their first lounge.

The success of their franchise model, especially in smaller cities, contributed significantly to their growth and social mission of providing access to professional gaming facilities for young people from diverse backgrounds.  

True Gamers is now focused on innovation, including the introduction of robotic dog waiters in their Dubai clubs, developed in collaboration with engineers and specialists from the UAE and Central and Eastern Europe region, with an investment of over $100,000.  

These robots offer accessibility and opportunities for employees with disabilities, aligning with their commitment to corporate social responsibility.


Red Sea Global secures $1.5bn for AMAALA infrastructure project

Updated 13 sec ago
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Red Sea Global secures $1.5bn for AMAALA infrastructure project

JEDDAH: Red Sea Global has announced the financial closing of a multi-utility infrastructure development project for the AMAALA destination, totaling around $1.5 billion.

The initiative, led by a consortium including Electricite de France or the EDF Group and Abu Dhabi Future Energy Co., or Masdar, alongside their partners Korea East-West Power Co., or EWP, and SUEZ, is set to position AMAALA as a luxury wellness destination on the Red Sea coast of Saudi Arabia. It is expected to welcome its first guests in 2025.

The financial close was achieved with the support of local and international financial institutions, including First Abu Dhabi Bank, Emirates NBD, and Riyad Bank, as well as Saudi National Bank and Alinma Bank, according to a statement from RSG, adding that the milestone highlights the consortium’s dedication to realizing AMAALA’s promise of unparalleled luxury, sustainability, and cultural enrichment.

Group CEO of RSG, John Pagano, said that they have demonstrated that large-scale tourism destinations can be powered using 100 percent renewable energy while providing luxury experiences for guests and strong financial returns for partners.

“This agreement with EDF, Masdar, EWP, and SUEZ means that we are on track to making AMAALA our second destination powered by sunlight, day and night.”

This achievement comes after the awarding of a 25-year multi-utility concession agreement with RSG in September 2023, which includes an option for extension. The deal encompasses the financing, engineering, and development, as well as construction, operation, maintenance, and eventual transfer of a multi-utilities infrastructure facility to support the AMAALA destination, RSG clarified.

The facility includes a fully optimized and decarbonized off-grid renewable energy system designed to generate electricity from a 250-megawatt solar photovoltaic park, 700MWh battery energy storage, and transmission and distribution lines. Additionally, it features a desalination plant with a capacity of 37 million liters of drinking water per day and wastewater treatment plants to secure the necessary base load.

The project is expected to prevent nearly 350,000 tonnes of CO2e emissions annually compared to typical infrastructures of this nature. It will also serve as a pioneering infrastructure initiative, ushering in a new era of eco-friendly luxury tourism.

Masdar CEO Mohamed Jameel Al-Ramahi highlighted the project’s innovative solutions, including solar power, energy storage, and desalination systems.

Beatrice Buffon, vice president, international division, and chairwoman and CEO of EDF Renewables, described the financial close as a significant achievement enabled by RSG’s support and the dedication of their team and partners.

She added that this initiative sets new standards for the EDF Group and should be replicable in other geographies. She also highlighted that the off-grid project will supply 65,000 people with carbon-free electricity and uninterrupted water access.

Commenting on the announcement, Kim Young-Moon, CEO of EWP said: “We are excited to announce the financial close of our renewable energy project in Saudi Arabia, a significant step in our commitment to a sustainable future.”

Young-Moon added that the project will reduce carbon emissions, improve air quality, and create jobs, boosting local economic growth.

“As we aim to lead the global energy transition, this project is a key milestone, driving innovation in the renewable energy sector and advancing our ambitious goals,” the executive said.

Pierre Pauliac, chief operating officer and executive vice president at SUEZ, said: “We are delighted to contribute to this strategic project for the development of Saudi Arabia. SUEZ will be part of the construction of all the water utilities equipment. In addition, the group will operate during the 25 years the state-of-the-art desalination plant to secure AMALAA’s access to drinking water, as well as the water networks.”

AMAALA will go beyond sustainability to have a regenerative impact on the environment. By 2040, the project plans to achieve a 30 percent net conservation benefit for local ecosystems. 

This will be accomplished by enhancing biologically diverse habitats such as mangroves, seagrass, corals, and land vegetation, promoting biodiversity while contributing to carbon sequestration, according to the statement.

Upon completion, the luxury destination will feature over 4,000 hotel rooms across 30 hotels, and 1,200 high-end residential villas, apartments, and estate homes. It will also host a vibrant community of more than 15,000 residents and workers, creating a dynamic and sustainable living environment.


Saudi-US bilateral accords ‘not that connected’ to Israel normalization

Updated 31 min 35 sec ago
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Saudi-US bilateral accords ‘not that connected’ to Israel normalization

  • Saudi FM rejects possibility of Kingdom recognizing Israel without establishment of Palestinian state
  • Region's security as a whole is at risk if we do not address the rights of Palestinians, says Saudi FM

RIYADH: Saudi Arabia’s foreign minister said on Thursday that some of the bilateral agreements the kingdom has been negotiating with Washington are “not that tied” to the normalization of Saudi relations with Israel and are “moving ahead.”

He noted that potential US-Saudi agreements on trade and artificial intelligence are “not tied to any third parties” and “can progress probably quite quickly.”

“Some of the more significant defense cooperation agreements are much more complicated. We would certainly welcome the opportunity to finalize them before the end of the Biden administration's term, but that’s reliant on factors outside of our control,” he said.

“The other work streams are not that connected, and some of them are progressing quite quickly, and we hope to see movement forward.”

Ruling out the possibility of Saudi Arabia recognizing Israel without the establishment of a Palestinian state, Prince Faisal stated that this remains the only viable solution, regardless of Israel’s acceptance.

Speaking at the Future Investment Initiative summit in Riyadh, he emphasized that the creation of a Palestinian state is rooted in international law and UN resolutions.

“In reality, the establishment of a Palestinian state is not tied to whether or not Israel accepts it; it’s tied to the principles of international law,” he said. “The UN resolutions that led to the establishment of the state of Israel clearly envisioned a Palestinian state as well, so we need to make that happen.”

Prince Faisal asserted that normalization of Saudi-Israeli ties is “off the table” until there is a resolution regarding Palestinian statehood. He further highlighted the broader implications, stating, “The security of the region as a whole is at risk if we do not address the rights of the Palestinians.”

Addressing the ongoing crisis in Gaza, he called for a cease-fire, emphasizing the dangers of an Israeli overreaction following the events of October 7th. “We have seen the reality that Israel’s reaction and its continuing military assault have led to a humanitarian catastrophe,” he remarked. He described the situation in northern Gaza as dire, with blockades and no safe zones for civilians, stating, “That can only be described as a form of genocide. It is certainly against humanitarian law, and that is feeding a continuing cycle of violence.”

On the prospects of an immediate cease-fire, Prince Faisal expressed caution, saying, “I hope it’s the case that we can see a cease-fire in the immediate hours, in the immediate short term. I’m not sure that that’s the case. I don’t have the details.”

He acknowledged US efforts to facilitate negotiations, adding, “We are not part of the direct negotiations, but we certainly support the efforts that the US has undertaken to find a pathway to a ceasefire. I hope it comes to fruition.”

He noted that previous attempts at cease-fire negotiations had failed due to new demands from Israel. “In most of those instances where the talks collapsed, it has been because new requirements or demands were added on the part of Israel,” he explained.

Prince Faisal also addressed Saudi Arabia’s position on Lebanon, emphasizing a hands-off approach. “We have never fully disengaged. But we believe it’s up to the Lebanese politicians to seek a direction that puts Lebanon on the right track,” he stated.

He added: “It’s not up to any outside influence, any outside countries, or any outside powers to tell the Lebanese what to do or to influence the political process in Lebanon. That is our opinion.”

Regarding relations with Iran, Prince Faisal indicated that recent discussions focused on regional de-escalation. “I hope that Iran, like us, is working toward regional de-escalation on all fronts, not just in Lebanon. That’s very much the focus of my conversations with my Iranian counterpart,” he said. While he could not be “confident of anything that is in the control of other parties,” he emphasized the importance of avoiding further escalation.

“I have made it clear to our Iranian counterparts that it is important to avoid any further escalation. My sense is that they realize the risks of escalation and would prefer to avoid it. But, of course, they have their own strategic calculations.”


‘Blue tech’ needs private sector boost, says RSG official

Updated 31 October 2024
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‘Blue tech’ needs private sector boost, says RSG official

RIYADH: Private sector firms need to lead the way and invest in so-called blue tech in order to protect the world’s oceans, according to a leading official at Red Sea Global.

Speaking to Arab News during the Future Investment Initiative in Riyadh, Raed Al-Basseet, environment and sustainability officer at the company, called on businesses to adopt innovative approaches that contribute to environmental preservation. 

This includes blue tech — which refers to refers to any innovation made for the sea.

Al-Basseet also reaffirmed RSG’s commitment to sustainability — and how this reflects on the project’s return on investment. 

He called on the private sector to take “the first steps” and invest in “cutting edge approaches to preserving the environment,” adding: “Enhancing the environment and … conservation is the right thing to do for the private sector, but also when we realize the first benefits out of that, and out of these initiatives, we will also have real return on investment as a developer, as a private sector, from that investment.” 

Al-Basseet was keen to emphasis RSG’s focus on environmentalism, saying the company has “sustainability at its DNA.”

He added: “And that actually, from a practical sense, means that (in) all of our activities, master planning and development, design, construction, delivering on these projects, as well as operating these projects, sustainability is at the core of everything that we do.” 

He emphasized that the long-term success of the projects relies on preserving natural assets, making sustainability integral to achieving favorable outcomes. 

Highlighting key initiatives, Al-Basseet pointed out the company’s significant investment in blue tech, adding: “The investment in technology does require the support of a multitude of stakeholders. Private sector does have a role. Red Sea Global is very proud that they have in the 

Al-Basseet also spoke about the company’s efforts in coral conservation, including supporting research that is happening now within the Red Sea.


Saudi-US bilateral accords ‘not that connected’ to Israel normalization

Updated 31 October 2024
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Saudi-US bilateral accords ‘not that connected’ to Israel normalization

RIYADH: Saudi Arabia’s foreign minister said on Thursday that some of the bilateral agreements the kingdom has been negotiating with Washington are “not that tied” to the normalization of Saudi relations with Israel and are “moving ahead.”

He noted that potential US-Saudi agreements on trade and artificial intelligence are “not tied to any third parties” and “can progress probably quite quickly.”

“Some of the more significant defense cooperation agreements are much more complicated. We would certainly welcome the opportunity to finalize them before the end of the Biden administration's term, but that’s reliant on factors outside of our control,” he said.

“The other work streams are not that connected, and some of them are progressing quite quickly, and we hope to see movement forward.”

Ruling out the possibility of Saudi Arabia recognizing Israel without the establishment of a Palestinian state, Prince Faisal stated that this remains the only viable solution, regardless of Israel’s acceptance.

Speaking at the Future Investment Initiative summit in Riyadh, he emphasized that the creation of a Palestinian state is rooted in international law and UN resolutions.

“In reality, the establishment of a Palestinian state is not tied to whether or not Israel accepts it; it’s tied to the principles of international law,” he said. “The UN resolutions that led to the establishment of the state of Israel clearly envisioned a Palestinian state as well, so we need to make that happen.”

Prince Faisal asserted that normalization of Saudi-Israeli ties is “off the table” until there is a resolution regarding Palestinian statehood. He further highlighted the broader implications, stating, “The security of the region as a whole is at risk if we do not address the rights of the Palestinians.”

Addressing the ongoing crisis in Gaza, he called for a cease-fire, emphasizing the dangers of an Israeli overreaction following the events of October 7th. “We have seen the reality that Israel’s reaction and its continuing military assault have led to a humanitarian catastrophe,” he remarked. He described the situation in northern Gaza as dire, with blockades and no safe zones for civilians, stating, “That can only be described as a form of genocide. It is certainly against humanitarian law, and that is feeding a continuing cycle of violence.”

On the prospects of an immediate cease-fire, Prince Faisal expressed caution, saying, “I hope it’s the case that we can see a cease-fire in the immediate hours, in the immediate short term. I’m not sure that that’s the case. I don’t have the details.”

He acknowledged US efforts to facilitate negotiations, adding, “We are not part of the direct negotiations, but we certainly support the efforts that the US has undertaken to find a pathway to a ceasefire. I hope it comes to fruition.”

He noted that previous attempts at cease-fire negotiations had failed due to new demands from Israel. “In most of those instances where the talks collapsed, it has been because new requirements or demands were added on the part of Israel,” he explained.

Prince Faisal also addressed Saudi Arabia’s position on Lebanon, emphasizing a hands-off approach. “We have never fully disengaged. But we believe it’s up to the Lebanese politicians to seek a direction that puts Lebanon on the right track,” he stated.

He added: “It’s not up to any outside influence, any outside countries, or any outside powers to tell the Lebanese what to do or to influence the political process in Lebanon. That is our opinion.”

Regarding relations with Iran, Prince Faisal indicated that recent discussions focused on regional de-escalation. “I hope that Iran, like us, is working toward regional de-escalation on all fronts, not just in Lebanon. That’s very much the focus of my conversations with my Iranian counterpart,” he said. While he could not be “confident of anything that is in the control of other parties,” he emphasized the importance of avoiding further escalation.

“I have made it clear to our Iranian counterparts that it is important to avoid any further escalation. My sense is that they realize the risks of escalation and would prefer to avoid it. But, of course, they have their own strategic calculations.”


NBK eyes partnerships in Saudi Arabia to tap Vision 2030 opportunities across diverse sectors

Updated 56 min 4 sec ago
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NBK eyes partnerships in Saudi Arabia to tap Vision 2030 opportunities across diverse sectors

  • NBK has developed strong connections with key players, including other financial institutions
  • NBK signed four agreements worth $1.6 billion, underscoring the growing demand for sophisticated financial solutions within Saudi Arabia’s evolving market

RIYADH: The National Bank of Kuwait is looking to partner with different companies in Saudi Arabia as the Kingdom’s Vision 2030 opens opportunities for financial partnerships, a senior executive said. 

Speaking to Arab News on the sidelines of the Future Investment Initiative in Riyadh, the General Manager of the National Bank of Kuwait in Saudi Arabia, Anas Al-Ubaid, highlighted that NBK has developed strong connections with key players, including other financial institutions.

“We have a good partnership with a lot of government bodies, corporates, and even private banking or high net worth individuals,” Al-Ubaid said.

He added: “We’re here on the market since 2006. We’re serving the market. We partnered up with the majority of the names in that market, even with banks. Once the opportunities arise, definitely we could partner up with them.”

Al-Ubaid also explained how the bank’s approach goes beyond traditional lending to provide customized financial solutions that meet specific client needs and support their business growth.

“The way we look at it here at NBK, it’s not just about lending. It’s about providing tailored financial solutions for our clients, serving their needs, and also helping them to grow their businesses,” he said.

Al-Ubaid continued: “There is no definite sector that we’re looking at. We’re looking at all areas that we could help with and help our partners in the markets.”

He added: “Our expertise is in tailoring solutions for clients, whether corporates or individuals,” highlighting NBK’s focus on customized financial services that support Vision 2030.

He further underlined that the Saudi market offers significant growth potential for banks, particularly as demand rises for customized financial solutions.

“I would say there’s a lot of opportunities in the markets for banks and financial institutions to grow in that area. Definitely. The market is eager to see more tailored solutions for clients, especially now the clients in Saudi,” Al-Ubaid said.

On the first day of the event, NBK signed four agreements worth $1.6 billion, underscoring the growing demand for sophisticated financial solutions within Saudi Arabia’s evolving market.

One agreement was inked with ACWA Power – worth SR2.6 billion ($690 million) – to support the company’s expansion in energy and water resource sectors across the Middle East and North Africa.

Additionally, NBK established an SR1.8 billion credit facility with Al Gihaz Contracting Co., helping fund the Kingdom’s largest energy storage project.

Agreements were also signed with Pan-Kingdom Holding Group and Alyusr Leasing to further their operational goals, with the deals valued at SR1 billion and SR750 million, respectively.