Saudi Arabia Reduces Stake in Nintendo

Posted on 14 November, 2024 by user

Table of Contents

Key Takeaways

Saudi Arabia”s PIF reduced its Nintendo shares from 7.5% to 6.3%.
The country had considered increasing its stake in Nintendo but now appears to be focusing on local investments.
The sales might not indicate a shift in Saudi Arabia”s gaming commitment, as it plans to host the first Olympic eSports Games in 2025.

The Public Investment Fund of Saudi Arabia has reduced its shares in Nintendo once again. The Saudi Arabian PIF has been investing in the gaming industry for years. Over time, it has acquired major stakes in gaming giants like , Activision, Capcom, and Embracer. The country”s continued interest in gaming has even led it down the path of hosting the first Olympic eSports Games in 2025.

The PIF first began investing in Nintendo in May 2022. At the time, it purchased 5.01% of the Japanese gaming titan”s available shares. Saudi Arabia, via its Savvy Games Group division, then went on to become when it increased its shares to 8.26%. The country”s continued acquisitions have all been in the pursuit of making Saudi Arabia a “global hub” for both gaming and esports.

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As reported by (via ), Saudi Arabia is once again reducing its stake in the Japan-based gaming company. This is all happening shortly after Savvy Games Group made over in October 2024. Based on a filing to Japan”s Finance Ministry, the Public Investment Fund reduced its shares in Nintendo from 7.5% to 6.3%. Such a sale is likely to bring in even more money for the PIF, though it remains to be seen if these kinds of sales will become a trend moving into 2025.