Saudi Arabia ups stake in Capcom, now owns $670 million worth of stock or 6% of shares

Saudi Arabia grows its stake in one of gaming's oldest companies--Japanese entertainment giant Capcom.

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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%.

The 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.