That's not true at all. During PBC's run, they've had co-promotions with all the promoters. Matchroom, Top Rank, Golden Boy, all of them. Remember Ryan Garcia complaining about how poorly his promoter (Golden Boy) treated him after he lost to Gervonta Davis? Remember Crawford-Spence? Carlos Adames is fighting Hamzah Sheeraz at the end of February on a Riyadh show.
Honestly - hes both. He just works with several promoters to access their roster of fighters. But he does promote the heck out of those Saudi cards. The recent fancy, Hollywood style fight promos are all Turki. Boxing promoters themselves are too cheap to do something like that.