After the news about the increase in the share Saudi Arabia in Japanese Nintendo we will also learn about other investments that the state has made through National Investment Fund (PIF)respectively state-owned companies smart games. This time, Axios magazine spotted a couple of documents revealing the rise of the Saudis in electronic arts And Take-Two interactive.
Share of Savvy Games in the first company grew from 5.1 to 5.8%. Take-Two Interactive then recorded an increase of one and a half percent. from the original 5.3 and 6.8%. Saudi Arabia currently owns 7.08% of the aforementioned Nintendo.
Savvy Games also has stakes in, for example, Capcom, Nexon or huggerwhere an investment of one billion dollars went. A lot of Arab money goes mainly to Chinese esports, despite the fact that global investment in this sector is on a downward trend.
The goal of Arab investment in the video game industry is to diversify the national economy and support youth. But it could also be an attempt to improve the reputation of a state that has been criticized for violating human rights. The Prince’s identity is also controversial Muhammad bin Salmanwho heads an investment fund and is linked, among other things, to the brutal murder of journalist Jamal Khashoggi in 2018.
Source :Indian TV
