Faisal bin Bandar bin Sultan Al-Saud, vice chairman of Saudi Arabia’s Public Investment Fund, has confirmed that the group is exploring further opportunities to increase its stake in Nintendo.

If you’ve been keeping up with video game industry news, you’ll know that Saudi Arabia already bought a 5.01% stake in Nintendo back in 2022. However, the Public Investment Fund (PIF) now holds 8.58% of Nintendo’s shares, a significant amount considering the company’s market capitalization.

In an interview with Kyodo News, Faisal bin Bandar bin Sultan Al-Saud, vice president of the PIF, confirmed that the Saudi government is considering further investment in Nintendo. “It’s important to maintain communication to get things done. We don’t want to rush into things,” he said. He also noted that “there are always opportunities” to continue investing in Nintendo, although the timing of their next move remains uncertain.

Saudi Arabia’s Goals with its Investments

It’s important to note that Saudi Arabia has made significant investments in other sectors, including sports, theme parks, and entertainment. According to VGC, it is clear that the Saudi government is using the PIF as a key instrument to position itself in markets expected to grow in the coming years, including the video game industry. This sector is part of Saudi Arabia’s long-term plan to expand its influence in creative and technological industries.

In the gaming world, we must go back to 2020, when Saudi Arabia acquired over $3 billion in shares of major companies such as Activision Blizzard, Take-Two Interactive, and Electronic Arts. More than a year ago, it was reported that the Saudi government has earmarked $38 billion to become the next big gaming development hub in the world, which includes investments in Nintendo.

Source: 3djuegos