Saudi Arabia playing catchup to UAE in sports hosting

The KSA has made it its intention to be the sports capital of the world in a bid to move away from heavy dependence on oil revenue.
They hosted the AJ Ruiz Fight and have since managed to host a few other smaller unmentionable events.
Their biggest drawback however is cultural.
How do you become an entertainment capital when women cant enter stadiums with men ?
Strict adherance to Islamic laws makes this extremely hard.
Again, the state runs every damn thing, with a tiny private sector.

All this happens way after UAE already made Dubai a thing. Socialites get 'round there to get pummeled by wealthy Businessmen.
Dana White, UFC president already bought Fight Island there and made it a major thing.
I pity the Saudis but cant blame them for trying. Maybe they should concentrate on the oil and pilgrimage revenues.