With UAE company’s backing, Pakistan set for bigger share of ‘$300-billion’ industry
With UAE company’s backing, Pakistan set for bigger share of ‘$300-billion’ industry

KARACHI: If there is one thing Microsoft’s $69-billion deal to purchase US gaming giant Activision Blizzard teaches us, it is that the video-game industry is huge, and becoming bigger. Once-in-a-century events like the pandemic have helped, but even without it, potential existed much before. Covid-19 may have just nudged it forward faster.

While some estimates put the industry value at $300 billion, its growth and potential is what is forcing people to take notice as well.

Pakistan also recently got its share of developments related to the video-gaming industry, particularly esports, when UAE-based Galaxy Racer, valued at over $1.5 billion last year, announced that its partnering with Fakhr-e-Alam, a household name in the country, to branch out and establish operations in the country.

Galaxy Racer, one of the portfolio companies of Sheikh Ahmed Dalmook Maktoum Private Office, has a global footprint with a subscriber count crossing 400 million worldwide, according to a report in the Khaleej Times. The report added that Alam will take a $40-million stake in the company and will be responsible for all operations in Pakistan.

Recently, the UAE esports company also announced an investment in Pakistan with Alam insisting that the industry is set to take on traditional sports in a big way.

Esports, as the word suggests, is a form of competition using video games. Due to ever-improving internet speeds, live streaming of such events has surged to unfathomable popularity in recent years.

In Pakistan too, esports has become increasingly popular, especially among the tech savvy youth with the country boasting celebrated gamers like Sumail Hassan, Yawar Hassan and Arslan Siddiqui to name a few. However, it is the platform that has been found wanting.

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