Commissar SFLUFAN Posted June 8, 2022 Share Posted June 8, 2022 Blech. Saudi Arabia has acquired a $1 Billion stake in Embracer Group | VGC WWW.VIDEOGAMESCHRONICLE.COM The Saudi Arabia Public Investment has purchased a $1 billion stake in Embracer Group, acquiring 8.1% of the gaming giant’s shares. Quote Saudi Arabia has purchased a $1 billion stake in Embracer Group, acquiring 8.1% of the company’s shares. Following the deal’s completion, the country’s Public Investment Fund (PIF) – through its subsidiary, Savvy Gaming Group – will be the second-largest owner of Embracer Group shares. PIF is a sovereign wealth fund chaired by crown prince Mohammed bin Salman, and is is reportedly central to his goal of making the Saudi economy less reliant on proceeds from oil. The Embracer deal is the latest in a line of investments in video game companies, which may raise concerns for some, given Saudi Arabia’s longstanding history of human rights abuses. The crown prince in particular has been accused of ordering the murder of journalist Jamal Khashoggi. Quote Link to comment Share on other sites More sharing options...
Keyser_Soze Posted June 8, 2022 Share Posted June 8, 2022 None of these companies will make a game they'll be just traded around like baseball cards. Quote Link to comment Share on other sites More sharing options...
Mr.Vic20 Posted June 8, 2022 Share Posted June 8, 2022 Dune...Arrakis. The Spice. Quote Link to comment Share on other sites More sharing options...
Ghost_MH Posted June 8, 2022 Share Posted June 8, 2022 They also grabbed 5% of Nintendo and Capcom earlier this year. I don't know if I saw anyone post these stories around here. Saudi Arabia's Public Investment Fund acquires stakes in Capcom and Nexon WWW.GAMESINDUSTRY.BIZ Combined investment is worth around $1 billion Saudi Arabia Public Investment Fund buys 5% stake in Nintendo WWW.GAMESINDUSTRY.BIZ The PIF said that it acquired this stake "for investment purposes" Quote Link to comment Share on other sites More sharing options...
stepee Posted June 8, 2022 Share Posted June 8, 2022 ew Quote Link to comment Share on other sites More sharing options...
Derek Posted June 8, 2022 Share Posted June 8, 2022 I don't know what either of those things are, but it doesn't sound good. I do know what Capcom and Nintendo are, though, and that doesn't sound good. Quote Link to comment Share on other sites More sharing options...
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.