RTS Announces Sale: Saudi Arabia’s Qiddiya Becomes New Owner of Evo, the World’s Largest Fighting Game Tournament

The legendary fighting game tournament Evolution Championship Series (better known as Evo) has a new co-owner.

On Tuesday, esports company RTS, formerly a joint owner of Evo, announced it has been acquired by Qiddiya, a massive development project in Riyadh backed by Saudi Arabia’s Public Investment Fund.

Qiddiya’s Chief Strategy Officer, Muhannad Aldawood, confirmed the news in a LinkedIn post:

“I’m excited to announce that Qiddiya has fully acquired RTS. This strategic move will further strengthen our esports business and unlock new opportunities for the wider gaming ecosystem. Most importantly, this will inject fresh momentum into Evo’s continued growth. Since its founding in 1996, Evo has become the largest fighting game tournament in the world, with limitless future potential. This milestone will elevate Evo to new heights and help us fulfill the vision of the fighting game community.”

The announcement follows Sony Interactive Entertainment’s recent exit from Evo. Just weeks ago, Sony sold its stake to esports group NODWIN, ending a four-year co-ownership. With this latest move, Evo is now jointly owned by NODWIN and RTS under Qiddiya’s umbrella.

Founded in 1996, Evo is the world’s biggest and longest-running fighting game tournament, with regular events held in Las Vegas and Tokyo. This October, the series will expand further with a European edition in Nice, France.