Saudi Arabia acquires ESL Gaming and FACEIT for $1.5 billion following their merger

To create the ultimate platform for competitive gaming

Saudi Arabia acquires ESL Gaming and FACEIT for $1.5 billion following their merger
Image Credits: ESL FACEIT Group

ESL Gaming and FACEIT merge into ESL FACEIT Group, and Savvy Gaming Group (SGG) has acquired them for $1.5 billion. The ESL transaction is reported to be worth a total of $1 billion, and FACEIT for $500 million. 

Savvy Gaming Group (SGG), a gaming and esports firm, in partnership with the Public Investment Fund (PIF), a Saudi Arabian sovereign wealth fund with over 430 billion dollars in assets under control has secured another two of the biggest esports companies under their portfolio.

Large-scale competitions for games like Counter-Strike: Global Offensive and Dota 2 are held by ESL Gaming. It also hosts the ESL Pro League, one of the finest CS:GO tournaments. FACEIT, on the other hand, is a privately held organisation that organises competitive CS:GO events for players and game publishers, and has previously hosted tournaments, including for Ubisoft's Rainbow Six Siege.

Craig Levine and Niccolo Maisto will serve as co-CEOs of the new firm, while ESL Co-Founder Ralf Reichert will serve as Executive Chairman in a non-operational capacity.

Craig Levine, ESL Gaming CEO, said: “Our mission remains unchanged: to create a world where everybody can be somebody. Our merger with FACEIT, along with the backing of SGG, will give us more know-how, capabilities, and resources than ever before to deliver on this vision. Whether you are competing or watching, doing so socially or at a professional level, every stage of the pathway will be improved through this merger.”

Niccolo Maisto, FACEIT CEO, added: “In the past years, ESL and FACEIT had a significant positive impact for the growth of the esports industry, bringing a variety of propositions for players, teams, publishers, and developers. By uniting these complementary capabilities, and with the backing of SGG, we are taking a long-term approach to develop a more robust platform to better support the future of the whole competitive gaming ecosystem and generate more value for all its stakeholders in a sustainable way.”

The ESL FACEIT Group also revealed some specifics about impending changes to the professional CS:GO scene, including the ESEA and FACEIT. It will attempt to increase North American CS:GO stability by providing additional incentives for professional teams, as well as foster the growth of local scenes and grassroots esports. The new organisation also claims to be actively investing in a road to professional status for up-and-coming esports athletes.