In the game, users chase collectible animals that appear on their phone screens through augmented reality while they are out and about in the real world.
With 30 million monthly players, Pokémon Go is one of the highest-grossing smartphone games globally, even though it was released over ten years ago.
The agreement is the most recent move by Saudi Arabia to expand its gambling sector, on which it has recently invested billions of pounds.
The deal also includes the employees who work on Niantic’s other games, including Monster Hunter Now and Pikmin Bloom.
They will join Scopely Inc., which was purchased for $4.9 billion in 2023 by Savvy Games Group, a PIF affiliate.