Saudi-based Savvy Games Group is expanding. While some companies continue to offload assets, the creators of Monopoly Go! are making significant investments.
Scopely has not disclosed the exact sum paid for the majority stake in Loom Games. It is reported that the payments are structured over several years. If the studio meets certain financial targets and other metrics, its valuation could exceed a billion dollars.
Loom Games was founded last year and released its debut project, Pixel Flow!, just a few months ago — a puzzle game that became the first casual game in 12 months to break into the top 20 highest-grossing mobile titles in the U.S.
Pixel Flow! combines color-matching mechanics and a "sorting shooter" concept. Users send colorful pets onto a conveyor to shoot pixel blocks of corresponding colors. In terms of monetization, it is a hybrid-casual game that generates revenue through both in-app purchases and ads.
Scopely itself, as a reminder, has been owned by Savvy Games Group — a subsidiary of Saudi Arabia’s Public Investment Fund — since 2023. The studio continues to grow. Revenue from Monopoly Go! surpassed $6 billion, and last year the company acquired the gaming division of Niantic (Pokémon GO) for $3.5 billion.