<a href="/category/games/">Games<span class="Nav__brand--gb-highlight">Beat</span></a> <br><em>Join gaming leaders, alongside GamesBeat and Facebook Gaming, for their 2nd Annual GamesBeat & Facebook Gaming Summit | GamesBeat: Into the Metaverse 2 this upcoming January 25-27, 2022. <a href="https://venturebeat.com/event/gbfbsummit2022/register/?&utm_source=vb&utm_medium=boiler&utm_content=Registration&utm_campaign=BoilerPlates">Learn more about the event.</a> </em><br><br>Modern Times Group has reportedly sold <a href="https://venturebeat.com/2020/09/30/esl-and-dreamhack-merge-to-create-esl-gaming/">ESL Gaming</a>, its esports organization, to Savvy Gaming Group for $1 billion, according to the German news site <a href="https://www.handelsblatt.com/technik/it-internet/esl-gaming-megadeal-in-der-gaming-branche-saudis-uebernehmen-deutschen-e-sport-veranstalter-fuer-eine-milliarde-dollar/27992066.html">Handelsblatt</a>. ESL Gaming operates some of the biggest esports tournaments in the world, most notably ESL One.<br>Savvy Gaming Group is backed by the Saudi Arabian government’s Public Wealth Fund. The same fund recently purchased the Newcastle United football club.<br>ESL Gaming 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.<br>Other major esports tournament organizers include Major League Gaming, Gfinity, and Blast Premier. However, none are as big as ESL Gaming, especially once the aforementioned merger took place.<br><strong>GamesBeat's creed</strong> when covering the game industry is "where passion meets business." What does this mean? We want to tell you how the news matters to you -- not just as a decision-maker at a game studio, but also as a fan of games. Whether you read our articles, listen to our podcasts, or watch our videos, GamesBeat will help you learn about the industry and enjoy engaging with it. <a href="https://venturebeat.com/gamesbeat-membership-plans/">Learn More</a><br>Join today’s gaming leaders on January 25 - 27, as we explore trends and major changes impacting the industry, new growth opportunities, and the impact of the metaverse in gaming culture.<br> Join today’s gaming leaders on January 25 - 27, as we explore trends and major changes impacting the industry, new growth opportunities, and the impact of the metaverse in gaming culture. <br>© 2022 <a href="https://venturebeat.com/" class="Footer__legal">VentureBeat</a>. All rights reserved.<br>We may collect cookies and other personal information from your interaction with our website. For more information on the categories of personal information we collect and the purposes we use them for, please view our <a class="c_nac" onclick=shoCMP()> Notice at Collection.</a><br><br><a href="https://venturebeat.com/2022/01/24/esl-gaming-sold-for-1-billion-to-savvy-gaming-group/">source</a>
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