The Saudi Investment Fund acquires more than 5% of Nintendo.

The Saudi Investment Fund acquires more than 5% of Nintendo.

The Kingdom continues to expand its share in the video game market

Saudi Arabia continues to expand its stakes in the video game industry, having recently purchased a 5.01% stake in Nintendo, according to the Japanese Ministry of Finance.

Bloomberg reported that the Public Investment Fund in Saudi Arabia made a purchase of a stake in Nintendo, worth $3 billion, for investment purposes. The acquisition makes it the fifth largest shareholder in Nintendo, according to Bloomberg data.

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Of course, this is not the only expansion of Saudi Arabia in this field. Recently, the Japanese developer SNK Corporation, which developed Metal Slug, K.O.F and a history of distinguished games, became almost entirely owned by the Kingdom of Saudi Arabia through EGDC, which acquired 96.18 percent of the shares of the company. SNK, according to a February 15 filing on the company’s website.

Also, earlier this year, the country’s Public Investment Fund was used to invest more than 5% stakes in both Capcom and South Korean online game publisher Nexon. These investments totaled more than $1 billion.

In December 2020, the fund acquired more than $3 billion in stock in Activision Blizzard, Electronic Arts, and Take-Two.

The fund is also set to receive a portion of the profits from this investment if Microsoft’s acquisition of Activision Blizzard is successfully completed.

In the field of the kingdom’s expansion in the video game industry, NEOM and MBC Group announced the opening of the first AAA game development studio in the Middle East and North Africa.

The new studio will be launched in the NEOM Media Center during the year 2023, where the studio will produce high-quality video games, and a group of developers around the world is currently supervising the project. more details..

We hope that such investments will continue in the video game industry, especially since the local market has become a large and influential part of the industry.

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