Saudi-Arabia Buys Esports Major EVO
– 2 min read
Saudi-Arabia's state fund subsidiary Qiddiya has bought RTS, the company behind the largest esports tournament Evolution Championship Series (EVO). Sony has also sold its stake in EVO to Nodwin Gaming, but stays on board in a more indirect manner.
Qiddiya, a subsidiary of the Saudi-Arabian state fund PIF, has bought RTS, the company behind esports mega tournament Evolution Championship Series (EVO). RTS is holding majority shares in EVO.
“This will enable Qiddiya to keep fueling the continued growth of Evolution Championship Series (EVO), the world’s largest fighting game event since 1996, with unlimited potentials”, said Muhannad Aldawood, Chief Strategic Officer at Qiddiya, in an announcement post on LinkedIn. “This milestone paves the way for setting new hights in the evolution of EVO toward achieving the aspirations of the fighting game community.”
Sony, the second stake holder of EVO, is also changing its commitment, albeit in more of a restructuring manner. Sony Interactive Entertainment, which until August held the stakes of the company in EVO, has sold them to Nodwin Gaming, which in turn is backed by the Sony mother company Sony Group. SIE itself remains main sponsor of EVO as well.
“When SIE acquired Evo alongside RTS in 2021, our goal was to help the Evo community grow and spotlight the skills and passion of fighting game fans on a global stage,” said Phil Rosenberg, SVP and Head of Global Partner Development & Relations at Sony Interactive Entertainment. “As SIE transitions to become an Evo sponsor, the momentum for Evo has never been stronger, following a successful Las Vegas event and upcoming expansion to new regions. We look forward to supporting the continued growth of Evo globally.”
“Evo was built by a team whose authenticity and passion for the fighting game community are unmatched,” said Nodwin Gaming Co-Founder and Managing Director Akshat Rathee. “We will continue SIE’s great work and honor the legacy of everyone who has made it what it is today, while opening the door for a new generation to experience the spirit of Evo.”
“In recent years, Evo hosted record-setting events in the USA and Japan, and our upcoming premiere in France is already breaking European records,” said Rick Thiher, General Manager of Evo. “These latest partnerships join the ongoing support from our global and regional partners in accelerating Evo’s expansion from hosting renowned live events to serving as a nexus point for fighting game culture worldwide.”
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