The Kingdom of Saudi Arabia’s Public Investment Fund has seemingly upped its stake in popular video game publisher, Electronic Arts.
According to Seeking Alpha (via GamesIndustry.biz), the fund has bought new shares of Electronic Arts. The information comes from the 13F filing with the Securities and Exchange Commission. The filing reveals that the fund has bought around 8.8 million shares to increase its stake from 16.01 million to 24.81 million shares. Other than that, the company also bought new shares of companies like PayPal, Sea, and Bloom Energy.
With the recent purchase, the PIF now owns up to 9% of Electronic Arts. Over the years, the fund has slowly created a major imprint in the gaming industry. The PIF currently has shares in companies like Nintendo, Activision Blizzard, Take-Two, and many more.
The new stake likely comes from the country’s intentions to invest around $38 billion in the gaming industry in the coming years. With a diversified portfolio at hand, it seems like Saudi Arabia has the opportunity to become the world’s next gaming hub.
With stakes in various video game publishers and distributors, Saudi Arabia is keen to attract the video gaming industry to its nation, and it will be interesting to see what comes of it.
For all the latest Games News Click Here
For the latest news and updates, follow us on Google News.
