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Monday, June 24, 2024

Saudi Arabia’s PIF Increases Electronic Arts Investment

  • The Kingdom’s Public Investment Fund reportedly increased its stake in EA by 55%.
  • The PIF has also invested in gaming firms Tencent, Nintendo, Activision Blizzard, and Take-Two Interactive.
The PIF upped its shares in EA by 55%.
Credit: Michael Madrid-USA TODAY Sports

Saudi Arabia’s sovereign wealth fund has increased its stake in Electronic Arts, building upon its massive $38 billion already invested in the video game industry. 

The Kingdom’s Public Investment Fund has increased its shares in Electronic Arts by 55%, going from owning 16.01 million shares to now 24.81 million shares, according to a financial filing observed by Seeking Alpha. EA’s sports titles include Madden NFL, EA Sports PGA Tour, NHL, F1, and FIFA—though future installments of the popular soccer series will be branded as EA Sports FC after EA and FIFA failed to agree to a new licensing agreement.

Saudi Arabia’s Savvy Games Group, a subsidiary of the country’s Public Investment Fund, acquired mobile games studio Scopely for $4.9 billion last month. 

The PIF also has holdings in gaming giants Tencent, Take-Two Interactive, Activision Blizzard, and Nintendo. It is the largest outside investor in Nintendo, with an 8.3% stake. 

Saudi Arabia’s increased investment in Electronic Arts comes as the country has been making a push to lure soccer star Lionel Messi to play in the Saudi Professional League. The PIF also owns sports properties LIV Golf and Newcastle United of the English Premier League.

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