Saudi-Owned Scopely Buys Loom Games Stake For Up to $1 Billion
Saudi-owned gaming studio Scopely Inc. has agreed to take a majority stake in Turkish development studio Loom Games, as the kingdom seeks to transform itself into a video gaming hub.
The deal is worth as much as $1 billion, a figure based on Loom Games hitting certain milestones, according to a spokesperson for Scopely.