Saudi Arabia Aims to Strengthen Its Influence in Gaming with $6 Billion Acquisition

Saudi Arabia’s quest for gaming consolidation shows no signs of slowing down. Even as it works on acquiring the publisher behind Battlefield 6, Electronic Arts, the kingdom is already setting its sights on new targets. The latest contender is Moonton, the gaming subsidiary of TikTok’s parent company, ByteDance, which could fetch a staggering $7 billion.

Reports indicate that the basic terms of the deal are already in place, with an official announcement potentially coming as soon as March. ByteDance acquired Moonton in 2021 for $4 billion, and now Saudi Arabia, through its investment arm Savvy Games Group, appears ready to pay over 50% more just a couple of years later.

So, what makes Moonton worth such a hefty price tag, especially when many sectors of the gaming industry are experiencing financial stagnation? The Shanghai-based company is best known for its 2016 mobile game, Mobile Legends: Bang Bang, which has surpassed a billion downloads. Last year, it also released several titles, including the auto battler Magic Chess: Go Go, the RPG Silver and Blood, and the cooperative vertical shooter Acecraft.

Acecraft, in particular, has drawn attention for its similarities to Cuphead, featuring iconic cartoon characters like Bugs Bunny and Daffy Duck as fighter pilots. Some players have criticized it as a microtransaction-heavy experience wrapped in the nostalgic animation style of the beloved indie platformer. Interestingly, the game has been offline for U.S. players since last month, with Moonton promising rewards for players once it returns, though its status remains uncertain.

If the sale price lands between $6 billion and $7 billion, Moonton would rank among the top ten largest gaming acquisitions ever. However, it’s not the only mobile giant that Saudi Arabia has targeted recently. Savvy Games Group also acquired Scopely, the maker of Monopoly Go, for $4.9 billion in 2023, and Niantic, the studio behind Pokémon Go, for $3.5 billion in 2025.

While the EA acquisition is still the largest on the table, it won’t finalize until later this summer. The board and shareholders of EA have overwhelmingly approved a historic $55 billion deal to take the company private, but there are calls from unions and some members of Congress for investigations and regulatory scrutiny before a major American gaming company is sold to a foreign government.

Given Saudi Arabia’s connections to the U.S. government, particularly through Jared Kushner, who reportedly played a role in facilitating the deal and has personal interests tied to it, the likelihood of significant regulatory hurdles seems slim.