Only days after its Nintendo stock increase, Saudi Arabia’s Public Investment Fund has once again thrown more money at Electronic Arts and Take-Two Interactive.
The PIF bolstered its stronghold in EA from 5.1 to 5.8 percent after acquiring 2 million shares as 2022 came to a close. After purchasing almost 3 million shares, the fund’s investment in Take-Two jumped from 5.3 to 6.8 percent as well in 2022. As of February 2021, the Saudi PIF had already invested roughly $3.3 billion into EA, Take-Two, and Activision Blizzard.
These investments came alongside the PIFs investment in Nintendo mere days ago. The Mario makers sold another 1.01 percent stake in their company to the investment fund run by the Prime Minister and Crown Prince of Saudi Arabia, Mohammed bin Salman.
Prior investments caught the attention of spectators across the globe, as fears of a profitable relationship with a region notoriously synonymous with human rights abuses failed to meet the standards of the gaming community.
Previously, the PIF extended its reach to esports titles like League, and CS:GO. Savvy Gaming Group, a subsidiary of the PIF, acquired ESL for $1 billion midway through 2022. ESL owns a massive portion of the CS:GO esports circuit, which features several tournaments throughout the competitive season.
While the PIF’s investment in gaming and esports can be seen as a profitable endeavor, the region’s laws surrounding homosexuality are deeply concerning. The punishments range from flogging to the death penalty.
We’ll have to prepare for these investments to continue, as the Saudi Arabian’s stream of neverending money seeps into the gaming landscape.