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Sunday, February
22nd, 2026
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The New
Era of the Evolution Championship Series: Saudi Arabia's Strategic
Acquisition
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 The
Fighters Generation
website is over 25 years young. We've been around long enough to
see this passion of ours, born out of arcades and into homes, become a
worldwide phenomenon. We've witnessed EVO and other fighting game
community events grow to new heights over the decades, while never forgetting
our shared humble grassroots beginnings that started up in local fighting
game communities. It's been reported by multiple sources that Saudi-owned
RTS—the entity that co-owned EVO alongside Sony Interactive
Entertainment—has officially taken full ownership of the largest
fighting game tournament in the world, EVO.
Evolution
Championship Series, which began in 1996 as "Battle by the Bay,"
has elevated from a grassroots gathering of arcade enthusiasts into a
global phenomenon that anchors the Fighting Game Community. For decades,
EVO remained a symbol of independent competitive spirit, even after its
2021 acquisition by Sony and RTS. However, the 2024 buyout of RTS by
Qiddiya represents a total consolidation of power. While Sony recently
sold its remaining stake to the esports group NODWIN, the operational and
strategic future of EVO is now inextricably linked to Saudi Arabia's
broader "Gaming and Esports Strategy." This strategy aims to
contribute approximately $13.3 billion to the Saudi GDP by 2030, utilizing
the PIF's estimated $700 billion in assets to purchase influential stakes
in the industry.
The change in EVO's ownership in recent years, as well as the addition
of new EVO events outside of Las Vegas, has been a lot to keep up with—if
not confusing to the more casual audience—and
has understandably become a point of discussion within the fighting game
community. To recap the basics, Sony purchased EVO in 2021 alongside RTS. Around this time,
Saudi Arabia's Qiddiya, a growing entertainment hot spot themed around
sports, gaming and entertainment, expressed interest to remain an EVO
partner through 2027. As of 6 months ago (or longer), Sony was no longer a
major investor in EVO. It was confirmed that Qiddiya fully
acquired RTS, which means Evolution Championship Series is now owned by the Saudi
government.
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(Above) The most
recent EVO 2026 Leaderboard.
The path to owning
EVO was paved by the Saudi government's earlier, more direct takeover of
SNK Corporation, the legendary Japanese developer behind Fatal
Fury, The King
of Fighters, Samurai
Shodown, and Metal Slug. In November 2020, the
Electronic Gaming Development Company (EGDC), a subsidiary of the MiSK
Foundation, purchased an initial 33.3% stake in SNK. By February 2022,
this stake was increased to 96.18%, effectively making the Crown Prince
the owner of the company.
This partnership was not merely financial but also creative. Prior to the
buyout, SNK had collaborated with the Saudi-owned Manga Productions to
include Saudi characters, such as Najd
in The King of Fighters
XIV, and stages set in Riyadh. In 2025, Cristiano
Ronaldo and Salvatore
Ganacci made their debut in Fatal
Fury: City of the Wolves as guest characters—two
real-life celebrities that have a business relationship with Saudi Arabia.
This integration represents a
"soft power" strategy where the kingdom's culture is woven into
the fabric of classic gaming franchises. As of 2026, SNK operates as a
wholly-owned subsidiary under the Saudi umbrella, serving as a cornerstone
for the kingdom's ambition to transition from a consumer of games to a
primary producer and owner of global gaming intellectual property.
What will this mean
for the future of EVO and EVO events? There's a lot to unpack. These
big changes will certainly be a topic of discussion in the years to
come... but people—all
around
the world—are
still talking about EVO and fighting games in 2026.... and that's a good
thing, right? 
Lest we forget other gaming genres have nearly died or struggled to stay
relevant and have any events even remotely close to the size or scale of
EVO. Mixed reactions are expected for a change this big, but let's keep
the positively alive and remain optimistic. That's what I say!
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EVO
2025 was a phenomenal and record-breaking event, and the previous years
were as well. With such a major shift, one might wonder if EVO can keep
its momentum and stature. It's certainly a lot to take in and honestly too much for me
personally to
provide opinion or commentary on (in addition to what I wrote in here this
article already). One thing I'll say is... I still love fighting games.
Also, I am focused on living a comfortable family
man life, being a proud father and husband, and believe it or not I'm
still supporting my local tournaments and events. I'm still doing my part.
Ohh yeah, not to mention I've kept this website going 25+ years. 
This is just your old pal, TFG Webmaster Frank saying... support your locals and
all major fighting game events that you can possibly attend. I still do.
The future of the genre depends on it! I'm proud of what the EVO team (and
other majors like CEO / Final Round) have done in the past, and cheers to
whatever future is on the horizon. I'll be watching as always. Hey, I'm still here.
TFG is still here. It's the passion for fighting games and playing
competitively that still drives us. With some good attitudes and good
fortune, we can all reach new heights. Thanks for reading and visiting The Fighters
Generation. Stay tuned.
~TFG Webmaster, Frank
J. | @Fighters_Gen
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| Source:
@Evo
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