Executive Summary: The Kingdom's Entertainment Transformation
Saudi Arabia has invested over $64 billion in entertainment infrastructure since the General Entertainment Authority was established in 2016, creating what the World Economic Forum describes as the world's fastest-growing entertainment market. The Public Investment Fund's Savvy Games Group holds a $37.8 billion gaming mandate, Qiddiya opened the world's most extreme theme park, and the Esports World Cup distributed $71.5 million in prize money in 2025. The Mukaab — paused but not cancelled per Reuters (January 27, 2026) — was designed to integrate holographic immersive environments, live performance venues, and gaming arenas within a 2.6 million sqm cube. This report tracks entertainment investment intelligence for Vision 2030 AI.
Savvy Games Group: $37.8 Billion Gaming Mandate
Savvy Games Group, a PIF subsidiary, controls the Kingdom's gaming strategy with a $37.8 billion mandate. In January 2026, $12 billion in gaming shares were transferred to Savvy from PIF's direct holdings, consolidating the portfolio under a single entity. Current holdings span minority stakes in Koei Tecmo, NCSoft, Nexon, Square Enix, Nintendo, and Bandai Namco.
Key acquisitions include Scopely ($4.9 billion, 2023) and Niantic's gaming division ($3.5 billion, May 2025). In February 2026, Bloomberg reported Savvy was in advanced acquisition talks for Moonton Technology (Mobile Legends developer) at a valuation of approximately $7 billion. For institutional investors, Savvy represents the world's largest state-backed gaming investment vehicle — tracked by CB Insights and Crunchbase.
Esports World Cup: $75 Million Prize Pool in 2026
The Esports World Cup 2025 edition (July 8–August 24) delivered $71.5 million in total prizes across 26 esports events, making it the richest esports tournament in history. For 2026, the total prize pool increases to $75 million, including a new $30 million Club Championship format. Saudi Arabia has positioned itself as the permanent home of the world's largest esports event, with the General Entertainment Authority processing licenses for dedicated gaming venues across the Kingdom.
Six Flags Qiddiya City: World Records Set
Qiddiya's Six Flags theme park opened December 31, 2025 — the first Six Flags park outside North America. Spanning 79 acres with 28 rides, the park features Falcon's Flight, certified as the world's tallest and fastest roller coaster. The park anchors Qiddiya City, a $8 billion entertainment mega-destination 40 minutes from downtown Riyadh.
Aquarabia, the adjacent waterpark, was 95%+ complete as of late 2025 with a March 2026 opening. Qiddiya's master plan includes a 500,000 sqm gaming district with 4 esports venues, motorsport facilities (including a Formula 1-grade circuit), and a performing arts complex. Total Qiddiya investment exceeds $8 billion from the PIF.
SEVEN Entertainment: SAR 50 Billion Portfolio
SEVEN Entertainment, another PIF subsidiary, is building 14 entertainment destinations across 13 cities with a total portfolio value of SAR 50 billion ($13.3B). The flagship SEVEN AlHamra in Jeddah — 168,000 sqm, SAR 3.6 billion — was 60% complete as of late 2025 with a mid-2026 opening. SEVEN destinations combine cinemas, bowling, karting, immersive experiences, and F&B in integrated entertainment complexes. The cinema market alone reached approximately $590 million in 2024, across 66 complexes, targeting 300 theaters by 2030.
MDLBeast Soundstorm: 500,000 Attendees
MDLBeast Soundstorm 2025 attracted 500,000 attendees across 14 stages with 250+ musical acts, making it one of the world's largest music festivals. The festival demonstrates Saudi Arabia's capacity to host mega-events at global scale. For entertainment investors, Soundstorm validates the Kingdom's live events infrastructure and consumer spending appetite.
Riyadh Season: 20 Million Visitors
Riyadh Season 2024–25 attracted 20 million visitors (+47.6% YoY), generating SAR 6 billion ($1.6B) in revenue. The General Entertainment Authority has processed over 3,000 entertainment licenses since 2018. Riyadh Season combines concerts, exhibitions, immersive experiences, and F&B across multiple zones. For The Mukaab and New Murabba, Riyadh Season provides a proven template for programming mixed-use entertainment districts at massive scale.
The Mukaab Entertainment Vision
The Mukaab was designed as the world's first immersive gateway — integrating holographic projection technology, AR/VR experiences, live performance venues, and gaming arenas within a 400m cube. The internal environment would feature digitally rendered immersive environments on the cube's interior surfaces, creating a cathedral-scale mixed-reality experience. While the superstructure is paused, the New Murabba Development Company district continues entertainment infrastructure development, and the conceptual technology partnerships remain active.
Investment Risk Factors
Risks include: Mukaab timeline uncertainty (district continues), entertainment sector dependency on consumer confidence (IMF Saudi Country Report fiscal deficit forecasts), content regulation constraints under Saudi cultural frameworks, competition from Dubai and Abu Dhabi entertainment offerings, and Saudization labor requirements increasing operational costs. However, the structural undersupply of entertainment venues relative to population, combined with PIF capital commitment exceeding $64 billion, provides significant downside protection.
Conclusion
Saudi Arabia's entertainment sector — $37.8B gaming mandate, world-record theme parks, $75M esports tournaments, SAR 50B SEVEN portfolio — represents the most capital-intensive entertainment build-out in global history. The Mukaab's immersive gateway concept remains the long-term anchor. Track via Vision 2030 AI, General Entertainment Authority, and Savvy Games Group.