ESL Gaming Sold for $1 Billion to Savvy Gaming Group
Join gaming leaders, alongside GamesBeat and Facebook Gaming, for their 2nd Annual GamesBeat & Facebook Gaming Summit | GamesBeat: Into the Metaverse 2 coming January 25-27, 2022. Learn more about the event.
Modern Times Group has reportedly sold ESL Gaming, the esports organization, to Savvy Gaming Group for $1 billion, according to German news site Handelsblatt. ESL Gaming hosts some of the biggest esports tournaments in the world, most notably ESL One.
Savvy Gaming Group is supported by the Saudi Arabian government’s Public Wealth Fund. The same fund recently bought Newcastle United football club.
ESL Gaming was formed in 2020 from the merger of ESL and Dreamhack, both of which were owned by MTG at the time. Craig Levine and Ralf Reichert, co-CEOs of ESL, became co-CEOs of ESL Gaming. Both were major event operators in the space.
Other major esports tournament organizers include Major League Gaming, Gfinity, and Blast Premier. However, none are quite as big as ESL Gaming, especially when the aforementioned merger happened.
GamesBeat’s credo in beating the gaming industry is “where passion meets business”. What does this mean? We want to tell you how important news is to you — not only as a decision maker in a game studio, but also as a game fan. Whether you’re reading our articles, listening to our podcasts, or watching our videos, GamesBeat helps you learn and have fun with the industry.
How are you going to do that? Membership includes access to:
Newsletters, such as DeanBeat
The great, educational and fun speakers at our events
Special interviews, chats and “open office” events for members with GamesBeat employees
Chat with community members, GamesBeat staff and other guests in our Discord
And maybe even a nice prize or two
Introductions for like-minded partiesJoin