Saudi Arabia buys 3% stake in Nintendo

Saudi Arabia's sovereign wealth fund has acquired a 3% stake in Japanese games company Nintendo, according to filings from the Tokyo Stock Exchange.<br><br>In its recent history, the Public Investment Fund has invested heavily in the gaming industry. In 2021, it acquired a 5% stake in the publisher of Assassin’s Creed and in 2022 it bought a 5% holding in Capcom, the company behind Resident Evil.<br><br>It also has larger stakes in two other major publishers: it owns 8.3% of Square Enix, the Japanese firm behind Tomb Raider, and 5% of Electronic Arts, the global publisher of FIFA.<br><br>The Saudi government’s investments in the games industry have faced a chillier reaction than its attempts to buy Premier League football club Newcastle United, which got the green light a year ago.