Saudi Arabia's Public Investment Fund (PIF) has in recent times targeted the videogames industry, and now owns a slice of many big players. The Saudi PIF has stakes (some of which are held through subsidiaries) in Activision Blizzard, Capcom, Embracer Group, Nexon, Nintendo, Take-Two Interactive and more. Now it's doubled an existing stake in Electronic Arts, and owns just under 10% of the global giant.
The PIF previously held 16.01 million shares in EA, but now holds 24.81 million–The total number of shares in EA stands at over 274 million, so that's around 9% of the total. The 'why' is no real mystery, as business is booming for EA. Its most recent results showed revenues of $7.4 billion for the last financial year, up 6% year-on-year, with the publisher predicting between $7.3 and $7.7 billion for the fiscal year ending March 31, 2024. In the earnings call EA largely credited these results to its live services performance in games such as Apex Legends and FIFA 23.
