Kyodo News, Japan’s news agency, conducted an interview with Prince Faisal bin Bandar bin Sultan Al-Saud, the Deputy Chairman of Saudi Arabia’s Public Investment Fund (PIF), at the Tokyo Game Show 2024.
The PIF has been actively acquiring shares in various gaming companies since 2021, including companies in the American and Japanese gaming markets. Additionally, PIF’s subsidiary, Savvy Games Group, has purchased shares in Sweden’s Embracer and the privately owned Electronic Gaming Development Company (EGDC) has acquired nearly all shares of SNK.
Currently, the PIF holds a stake of 8.58% in Nintendo and 8.97% in Koei Tecmo, with plans to transfer these shares to its subsidiary, Savvy Games Group, for consolidation.
When asked if he is interested in acquiring more gaming company shares, Prince Faisal answered, “It’s always possible,” emphasizing the importance of obtaining consent from the respective companies to avoid any hostile takeovers.
Saudi Arabia is diversifying its business portfolio beyond oil, with a focus on entertainment ventures such as the serious foray into the esports market and hosting the inaugural Olympic Esports Games in 2025. Moreover, plans are underway to construct a Dragon Ball themed amusement park.
Following the publication of the interview, Nintendo’s shares skyrocketed by 3.9% as the market anticipates potential increased investment from major global funds.
Source: Kyodo News, Bloomberg
TLDR: Prince Faisal discusses PIF’s gaming company investments at Tokyo Game Show 2024, highlighting diversification beyond oil and ambitions in the entertainment industry.
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