Saudi Arabia grows its stake in one of gaming's oldest companies--Japanese entertainment giant Capcom.
As per new filings on Japan's EDINET financial platform, Saudi-owned and -operated group Electronic Gaming Development Company (EGDC) has upped its stake in Capcom, from 5.03% to 6.04%.
Popular Now: Rockstar's next game after GTA 6 is already confirmed, but it isn't Red Dead Redemption 3The filings show that the EGDC currently has over 32 million shares in Capcom (32,186,900 to be exact). This treasure trove is worth an estimated 107.5 billion yen, or $673 million. At the time of writing, Capcom has over 533 million outstanding shares (533,011,246).
Saudi Arabia has been increasing its foothold in gaming for half a decade now, utilizing multiple divisions, companies, and organizations to facilitate its multi-billion-dollar stake in gaming.
Through the Savvy Games Group, the country's PIF has funded multiple high-level acquisitions, including the buyout of Scopely, who developed Monopoly Go, a mobile game that achieved $6 billion revenue faster than any other smartphone game in history.
Savvy also purchased Moonton for $6 billion--this was the gaming unit of TikTok creator ByteDance.
Saudi Arabia is also principally-funding the $55 billion take-private buyout of Electronic Arts, which will see the previously publicly-traded company go private after decades of transforming the video games landscape. It's estimated that Saudi Arabia will have 93% of stake and claim in EA following the deal.
The Electronic Gaming Development Company (EGDC) is an investment vehicle of Saudi Arabia's Mohammed bin Salman Foundation (MiSK), a non-profit organization established in 2011. The EGDC and MiSK are closely linked to and backed by the country's lucrative Public Investment Fund, a sovereign wealth fund aimed at investing in the future of Saudi Arabia.
