Saudi Arabia Eyes Bigger Stake in Nintendo

Saudi Arabia Eyes Bigger Stake in Nintendo

Saudi Arabia’s sovereign wealth fund is considering increasing its stake in Nintendo, according to recent reports from Kyodo news and VGC. The Public Investment Fund’s (PIF) vice chair confirmed plans to diversify its economy by strengthening its gaming and entertainment businesses.

Saudi Arabia’s Gaming Portfolio

The PIF has already invested in several gaming companies, including Capcom, Nexon, Nintendo, Take Two Interactive, and Activision Blizzard. The fund is currently transferring its shares in these companies to its Savvy Games Group subsidiary. It also has an interest in EA and acquired a stake in Embracer Group in 2022.

Expansion Plans

The PIF is looking to expand its gaming portfolio, with vice chair Prince Faisal bin Bandar bin Sultan Al-Saud stating that “there are always opportunities” for investment. However, he emphasized the importance of communication and not rushing into any deals.

Controversy Surrounding the PIF

The PIF is a subsidiary of the Public Investment Fund, an initiative chaired by Prince Mohammed bin Salman. However, the prince has been involved in several controversies, including being blamed by the CIA for the assassination of Washington Post journalist Jamal Khashoggi in 2018. The rule of Saudi Arabia has also maintained the country’s poor human rights record.

Recent Developments

The news comes after several key developments for Saudi Arabia and its gaming portfolio, including hosting the next esports Olympic Games and the new Overwatch Champions Series. The Savvy Gaming Group is a subsidiary of the Public Investment Fund, and it is clear that Saudi Arabia is looking to make a bigger impact in the gaming industry.