The Kingdom of Saudi Arabia and the region have been among the biggest investors in the video game industry in the past period, with international esports events and events to launch the most popular games and more. What we see today, according to a new report, is that the Public Investment Fund of the Kingdom of Saudi Arabia has increased its holdings of Nintendo for the second time in a month.
TradingView revealed today that the financial planner, founded by Prince Mohammed bin Salman, now owns 7.08% of Nintendo, up from 6.07% in January. It was previously known that the Public Investment Fund had acquired a 5.01 percent stake in the company as of May 2021.
Nintendo told Reuters last year that it first learned of the PIF’s move through news reports and declined to comment further. The company has not issued any further statements since then about the PIF’s continued investment. Last September, the prince announced that the PIF would launch a new strategy for Savvy Gaming Group, which would include allocating $13.3 billion to acquire a “leading games publisher.”
The Saudi Public Investment Fund has invested in gaming companies around the world, with the Saudi investment fund having similar stakes in Capcom, Nexon, Koei Tecmo, EA, Activision Blizzard, and publisher Take-Two. It appears that investments in video games are benefiting the Kingdom greatly, which explains the rationale for continued investment in the industry.
