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Saudi PIF announces 5.01% stake in Japan's Nintendo amid efforts to boost country's gaming industry

RIYADH: Saudi Arabia’s Public Investment Fund has announced a 5.01 percent stake in Japanese multinational video game company Nintendo Co. amid efforts to propel the country’s gaming industry, Bloomberg reported, citing a filing to Japan’s Finance Ministry. While the acquisition was made for investment purposes, it also makes the PIF Nintendo's fifth largest shareholder. The
Saudi Arabia Ar Riya Bungie Inc Nintendo Co Activision Blizzard Inc Microsoft Corp

Saudi gaming business plays a big part in building soft power

RIYADH: Last April, top strategy and consulting firm Accenture estimated that the global gaming industry exceeded $300 billion, much more than the combined market of music and movies. The industry added 500 million new gamers between 2019 and 2021. And that was just the beginning. Driven by the surge in mobile gaming and the urge for social interaction during the pandemic, the
United States Saudi Arabia Ar Riya Ali Al Harbi Tamatem Hammo Hussam Hammo

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