Just like the biggest football clubs in the world, the big gaming companies are also moving into the hands of patrons from the Gulf. Economy website Bloomberg reports that Saudi Arabia’s sovereign wealth fund has recently acquired shares worth $ 3.3 billion in gaming companies like Activision-Blizzard, Take-Two and EA. Crown Prince and Saudi Prince, Muhammad bin Salman al-Saud, He is the one who pushed for the deal and investment, and the political wealth fund bought shares worth $ 14.9 million in Activision-Blizzard, $ 7.4 million in EA, and $ 3.9 million in Take-Two.
All three companies in question have experienced a significant increase in their revenues and profits over the past year, so the purchase of these shares should return the investment to Saudi Arabia’s public investment fund, thus reducing the country’s reliance on oil exports. Muhammad bin Salman spoke about the acquisition, noting that his generation is the first generation to grow up in Saudi Arabia on computer games – with his favorite game being a Voice of Duty from Activision.
This is not the first time the Saudi prince has directed the kingdom’s future investments to slightly more modern issues: in 2016 the same investment fund invested $ 3.5 billion in the Uber app. In 2017 there was an attempt to partner with Riot and the European League of Legends – but less than 24 hours after the announcement of Riot the deal was canceled because the gaming community vehemently opposed it.
Saudi Arabia has invested billions in Activision, EA and Take-Two | Engadget – Engadgethttps: //t.co/9IaJEOciup
– NewsfeedsMedia (@NewsfeedsMedia) February 19, 2021
