Savvy Gaming Group acquires ESL Gaming for $1 billion

One of the most prominent esports organizers, ESL Gaming, has been sold to the Saudi Arabian-backed Savvy Gaming Group. Immediately after this came the news that FACEIT was also purchased for 500 million dollars.
ESL Gaming Sold

According to German news site Handelsblatt, ESL Gaming was sold to Savvy Gaming Group for $1 billion. ESL Gaming organizes the world’s biggest esports tournaments like ESL One.

Savvy Gaming Group deals with many gaming-related topics. Backed by the Saudi Arabian government’s Public Wealth Fund, Savvy had recently purchased the Newcastle United football club.

ESL Gaming was formed by the merger of ESL and Dreamhack. These two organizations were under MTG until 2020, and when they merged, a huge esports organizer emerged. ESL Gaming consists of seasoned event managers, with Craig Levine and Ralf Reichert serving as co-CEOs.

While the esports industry used to appeal to a niche segment, it is now attracting a lot of attention. ESL One has many followers around the world. While there are many major esports promoters, including Major League Gaming, Gfinity, and Blast Premier, ESL Gaming remains the industry leader. It is a matter of curiosity whether there will be a change in the esports markets after ESL Gaming changed hands.

Some of the 2022 events announced on ESL Gaming’s website are as follows:

  • IEM Katowice 2022 – $1 million prize CS:GO tournament
  • DreamHack Dallas 2022
  • DreamHack Summer
  • IEM Cologne 2022 – $1 million prize CS:GO tournament

UPDATE: Savvy Gaming Group acquired FACEIT for $500 million. Following the acquisition of FACEIT, ESL and FACEIT will be merged. The emerging new ESL FACEIT group will continue to operate in line with the company’s goals.

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