Saudi Arabia moves billions of worth stock in video game companies including Nintendo to subsidiary Savvy Games - The Times of India
Summary
Saudi Arabia's Public Investment Fund is transferring roughly $12 billion of gaming company shares, including holdings in Nintendo and Bandai Namco, to its subsidiary Savvy Games Group. Once complete, Savvy will hold about 10% stakes in companies such as Koei Tecmo, NCSoft, Nexon and Square Enix, strengthening its position as a major industry investor. Savvy already controls billions earmarked for further gaming investments and has acquired studios like Scopely and Niantic, though it is not involved in the reported $55 billion EA buyout. A Savvy spokesperson says the move formalizes stewardship of PIF's games investments and does not change its investment strategy.
Classifications
industries
Fintech & Banking
applications
Accounting and Taxes
AskAI Classifications
Labels
Video Game Software
Interactive Entertainment
Consumer Software
Linked Companies
SQUARE ENIX GLOBAL
$1B+
Electronic Arts Inc.
$1B+
Niantic Games
$250M to $500M
Nexon Home
$1B+
Take-Two Interactive Software, Inc.
$5M to $10M