Details have emerged that EmbracerGroup was set to do a massive deal with SavvyGamesGroup, which was funded by the Saudi government.
Credit: Embracer Group
According to the report, the investment was basically a done deal up until recently, when Savvy Games Group backed out of the deal altogether. The group remained a mystery partner until Embracer Group started reporting record losses due to the decision and immediately declared they were going into cost-cutting mode.
As of the time we're writing this, it is unclear as to the reason why Savvy Games Group pulled out. However, speculation on social media and from other outlets is that it most likely had something to do with Saudi Arabia's controversial stances and practices, and how they suddenly seem very keen to invest in ventures to improve their image, including sports and gaming.
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