Saudi Arabia now owns 6.07% of
The PIF has contributed to the purchase of stakes in several global games companies already, including Nexon, Capcom, Activision, EA, and Koei Tecmo. Saudi Arabia recently extended its stake in Japanese developer SNK (King of Fighters) to 96%.
Embracer Group also received a $1 billion investment from Saudi Arabia in 2022.
While the country’s latest investment does not mean it has a controlling interest or any say over
In 2018, journalist Jamal Khashoggi was allegedly ordered to be killed by the Saudi Crown Prince, Mohammed bin Salman, for criticising the government. These allegations have hung over the country for several years, with many accusing the PIF of being a front to ‘whitewash’ Saudi Arabia’s image as a progressive, modern nation.
Given the financial strength of the PIF, which has recently been the subject of major, unconfirmed rumours around a potential WWE buyout, Saudi Arabia could be looking to further expand its investments in the games industry in future.
Furthering its investment in