Saudi Arabia’s Public Investment Fund is considering increasing its stake in Nintendo

Image: Damien McFerran/Nintendo LifeSaudi Arabia's Public Investment Fund is considering increasing its stake in Nintendo and other gaming companies, it has been revealed. Speaking in an interview with Japanese news agency Kyodo News, Prince Faisal bin Bandar bin Sultan Al Saud, vice chairman of PIF's gambling unit, revealed a desire to expand but said there was no need for it. Further investment must be made and any shareholding will increase. will be done in a “friendly” manner. PIF currently owns 8.58% of Nintendo and is the company's largest outside investor. It has minority stakes in video game companies Nexon (10.53%), Keoi Tecmo (8.99%), and Capcom (6.60%). It also owns 96% of King of Fighters and Fatal Fury, creators of SNK. Increased investment in gambling establishments is part of Saudi Arabia's efforts to reduce its dependence on oil exports, the country's main source of wealth. It initially took a 5% stake in Nintendo in the year 2022Increase the bet 6% next year. [source reuters.com, via mynintendonews.com] Damien has been writing professionally about technology and video games since 2007 and oversees all Hookshot Media sites from an editorial perspective. He is also the editor of Time extensionThe network's newest website, - paradoxically - talks about the game's past glories. 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Saudi Arabia’s Public Investment Fund is considering increasing its stake in Nintendo

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