A disclosure from Saudi Arabia’s Public Investment Fund (PIF) states that Saudi Arabia is now the second-biggest shareholder of the Videogame Company Nintendo NTDOY, coming with a newly raised 8.3% share number. This comes from Bloomberg news as they’re now only led by the Nintendo company’s own shares in the stock investment business.
The new number comes after a third investment was completed, Saudi Arabia initially starting from 5.0% share of the company originally from back last year. There is even online social chatter that the share might even go higher in number as the PIF seems inquisitive about getting even more company shares.
This likely comes as a favourable investment in the company right after Nintendo’s future videogame lineup for 2023 was released in the form of the February Nintendo Direct. It’s not only the aspect of the currently most anticipated first-party exclusive Nintendo title in the videogame world, The Legend Of Zelda: Tears of the Kingdom, coming ahead as the biggest Nintendo release of the year, but also because there were also many other favourable announcements that are looking to become very commercially successful. Some examples of this are Metroid Prime Remaster, a critically acclaimed and commercially successful Nintendo title that is being reviewed currently as one of the best remastered videogame titles on the market, the addition of Game Boy and Game Boy Advance titles to Nintendo’s Nintendo Switch Online subscription service, Kirby’s Return to DreamLand Deluxe, and many more first-party exclusive and third-party titles. The prospects for Nintendo seem favourable as an investment opportunity because the company currently leads the videogame industry in terms of having the most number of the highest grossing and most valuable videogame franchises. The Nintendo Switch has also been one of the most successful videogame consoles ever, with just its software unit sales almost crossing the 1 Billion mark.
Saudi Arabia comes as a hopeful investor in the videogame industry, setting up an investment fund with a $38 billion budget solely for videogames and esports. They’ve also stated to be aiming to make Saudi Arabia a gaming hub in the future for competitive esports and other related tech and gaming ventures.