Israel: The Middle East & Africa Region’s Gaming Powerhouse

Israel has firmly established itself as a dominant force in the global gaming arena. In 2024, Israeli gaming companies attracted a staggering US $1.615 billion in investments, making it the most funded gaming industry across the MEAPT region. Remarkably, 12 out of the top 20 most funded gaming and eSports startups in the Middle East & Africa hail from Israel. The sector’s impact is profound, contributing approximately 2% to the nation’s GDP, a figure that doubles the ambitious target set by Saudi Arabia’s Vision 2030.

The country’s gaming ecosystem is vibrant and expansive, employing over 14,000 professionals across approximately 1,000 independent development teams. With a strong emphasis on mobile gaming, Israel is home to around 200 mobile gaming companies, including industry leaders like Playtika, Moon Active, and Candivore. The startup scene is robust, with one unicorn, 31 companies at Series A or beyond, and 58 startups securing funding in 2024. Notably, Israel also garnered US $490 million in Web3 gaming investments last year, underscoring its position at the forefront of gaming innovation.

Playtika pioneered the free-to-play gaming model on social networks and mobile platforms, launching hit titles like Slotomania and House of Fun. Co-founder Robert Antokol, who continues to serve as CEO, helped steer the company to unicorn status with its $4.4 billion acquisition by a Chinese consortium led by Giant Interactive in 2016. Playtika went public on NASDAQ in January 2021, raising US $1.88 billion at IPO and securing a valuation of $11.4 billion. Today, the company remains one of the global leaders in mobile game monetization, with millions of daily active users worldwide.

Evoke PLC, previously known as 888 Holdings, is a heavyweight in online gambling, poker, and sports betting. Brothers Avi and Aaron Shaked and the late Shay Ben-Yitzhak launched the company with a vision to lead the digital betting space. In 2024, Evoke secured US $564.3 million in post-IPO debt to strengthen its balance sheet as part of a refinancing initiative. Now managing brands like William Hill and 888casino, Evoke’s recent rebranding reflects its ambition to unify its multi-brand empire and deepen global market penetration.

Founded by serial entrepreneur Teddy Sagi, Playtech has been a B2B backbone of the global gaming sector for over two decades, powering online casinos, poker rooms, sports betting platforms, and live dealer games. With its software solutions deployed across major regulated markets, Playtech continues to scale globally, particularly in North America. In 2023, the company raised €300 million (approx. US $327.5 million) through a post-IPO debt issuance, further cementing its financial stability and growth trajectory.

The trio of Ori Sella, Tomer Barzilai, and Asaf Cohen co-founded Candivore with the goal of creating highly engaging casual multiplayer games. Their flagship title, Match Masters, surpassed 50 million downloads in 2023, and has generated over US $300 million in revenue. In 2023, Candivore secured US $100 million in a private equity round led by Haveli Investments, marking one of the largest funding rounds in Israel’s mobile gaming space. With creative marketing moves like a partnership with NBCUniversal, Candivore continues to redefine the casual gaming landscape.

Overwolf was founded by Uri Marchand, Gil Or, and Alon Rabinowitz with a mission to empower game creators through tools for building and monetizing in-game apps, overlays, and mods. The platform now supports a vibrant ecosystem of 165,000 creators and boasts 41 million monthly active users. Overwolf raised US $75 million in its Series D round in 2021, led by Andreessen Horowitz, bringing its total funding to US $150 million. With high-profile partnerships and a focus on community-driven content, Overwolf has become a cornerstone of the modding and UGC (usergenerated content) gaming space.

Looking Ahead

Israel’s gaming sector is poised for continued growth, driven by its innovative spirit, robust investment landscape, and a strong talent pool. As the industry evolves, Israeli companies are well-positioned to lead in emerging areas such as Web3 gaming, user-generated content, and mobile gaming innovations. With a solid foundation and a forward-looking approach, Israel is set to maintain its status as a gaming powerhouse in the MEAPT region and beyond.

 

Get a round-up of the biggest gaming trends, startup breakthroughs, and investment opportunities across the Middle East and Africa in 2025, by downloading our latest Special Report, “MEA Gaming Review 2025”.