Savvy Gaming Group, a holding company of the Saudi Arabian sovereign wealth fund, announced on the acquisition of the eSports organizations ESL Gaming and FACEIT to merge them into one – the ESL FACEIT Group.
Remember that ESL Gaming is the organizer of eSports events (especially Counter-Strike: Global Offensive), while the FACEIT platform manages eSports leagues.
The main goal of establishing ESL FACEIT Group is to create a leading platform for competitive gaming “an unrivaled offer for players, fans, teams, publishers, developers and partners”.
As part of the new organization, ESL and FACEIT will retain current leadership, while the ESL FACEIT Group will be led by Craig Levine, CEO of ESL, and Niccolo Maisto, CEO of FACEIT.
The Savvy Gaming Group was formed in 2021 to help “Long-term development and development of the gambling industry on a global scale”. The company is led by Brian Ward, who led the merger between Activision and Blizzard in 2008.
The transaction is awaiting regulatory approval and is expected to close in the second quarter of this year. According to Sports business journalESL Gaming and FACEIT cost Savvy Gaming Group $1.5 billion.
The next major tournament under the auspices of ESL Gaming – Intel Extreme Masters Katowice 2022 in Counter-Strike: Global Offensive (with a prize pool of $1 million) – will be held in Poland from February 15th to 27th.