W Ventures set to invest $50m in Esports Gaming

It’s no surprise how much the esports scene is rising, but a Dubai based company is about to make significant investments.

W Ventures announced that it will spend $50 million (Dhs183 million), together with its first online and offline gaming platform, in building the regional Middle East Esports and gaming ecosystem.

With help from RedPeg gaming and sports company, the project seeks to increase the state of gaming in the region.

The UAE has seen an increase in the number of professional gaming teams involved in international sport turnouts, such as Yalla Esports, which has qualified for three international tournaments with US$1.2 million (Dhs4 million) in prize pools.

“With the help of instruments and technology to be found and built-in this growing, global phenomenon, we see the opportunity to offer gamers in the area a totally unique and true experience,” said W Ventures President Habib Wehbi at our sister site Arabian Business.

CEO of RedPeg, Brad Nierenberg added: “Food, energy, and gaming communities in the United States and worldwide for the past 8 years we have been working with publishers, endemic and non-endemic brands, influence makers as well. It’s high time to develop the industry too because worldwide gaming is expected to generate $196 billion in revenues by 2022. Gaming is obviously booming.

For the new gaming site, W Ventures said that later in this month they would reveal more details. See the updates on this site.