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 Nintendo, 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 Nintendo's largest stakeholder in 2023 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 Bloomberg (via The Edge), 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 $100 million selling shares of Nintendo in October...
