I don’t know about any study but my personal experience says that when “a lot” term is added in this equation, it will start to degrade the senses.
My brother is the best example for that. He plays video games every day, he does that for youtube but he isn’t seem to be improving in his studies and constantly been failing in his exams.
I don’t know how well he plays but video games isn’t life. He needs to go out, have fun and play outdoor games more than video games. He once told me to play tomb raider, I did so and I admit it’s addicting, but after an hour of play I started getting headache. I had to breath in fresh air after that but the headache didn’t go away for the entire day.
So my conclusion is that video games are fun and may probably improve intelligence in a different sort of way but one should always focus on outdoor games for proper development of mind and body. Because healthy mind lives in a healthy body.