Saudi Arabian Prince acquires $1 Billion of Embracer Group

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Varteras

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Saudi Arabia has purchased a $1 billion stake in Embracer Group, acquiring 8.1% of the company’s shares.
Following the deal’s completion, the country’s Public Investment Fund (PIF) – through its subsidiary, Savvy Gaming Group – will be the second-largest owner of Embracer Group shares.
In a statement, Embracer founder and group CEO Lars Wingefors said: “Savvy Gaming Group’s investment of $1 billion enables us to continue executing our strategy proactively from a position of strength across the global gaming industry

This guy is the new Tencent!
 

ParaSeoul

Member
 
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The Middle Eastern countries, especially from the Gulf region relied heavily on petro-dollars for the past 100 years, and it made them a fortune.

In recent years, they’ve realised the oil will only last then so long so they’ve set up firms which will invest billions into different projects and investments around the world, like buying football clubs, large scale property acquisition and now it seems they want to take a slice of cake from the gaming industry.
 

winjer

Gold Member
I can see a future Kotaku article whining about it already.

Probably not. Kotaku is an extreme left outlet. So they are bound to defend anything Islamic and blame it on the west.

I just hope we don't get to have Lara Croft raiding tombs in a burka.
 
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pqueue

Member
Probably not. Kotaku is an extreme left outlet. So they are bound to defend anything Islamic and blame it on the west.

I just hope we don't get to have Lara Croft raiding tombs in a burka.
except in their world, gay and/or female character projects trump their normal pro-Islam/anti-West stance.,
 
The investment from both the ME and China should be viewed with caution, but it is likely just a way to further diversify their portfolios and take a slice of the pie.
 

winjer

Gold Member
Fair point but SNK was bought out by them earlier and KOF remains unchanged. I'm guessing if this prince is as big as a gamer as he claims to be,he knows censorship isn't what we want.

Maybe. Let's hope it's like you say.
 
I don't want this cunt anywhere near my favourite hobby. I was mortified when rumors were going around about the possibility of a takeover of Man United FC, a football club I supported for 25 years.
 

Mokus

Member
Ok, time to start planning another hobby than gaming... too many weird things happening in the gaming industry that might have catastrophic effects in the future.
I could rely on the (fucking big) backlog if something like that happens.
 
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Three

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An extremely religious nation, having the second biggest vote weight in the company, might cause some strange artistic decisions in future games.
Maybe but how is this different to say an American company buying a Japanese/Eastern European one and influencing woke/strange artistic decisions? People seem to have little concern about those and that happens every Wednesday. Even if with 8% they do influence the games being made, let there be more cultural diversity in games I say. Woke, Middle Eastern, hell Hentai, whatever, give me more. I'd rather the differences exist than all the same 'correct' thing from a single country/company.

The Crown Prince himself is a really questionable character though who seems to have too much power and little opposition for the crazy stuff he's allegedly done.
 

PhaseJump

Banned

Because Neo Geo console warriors are about to rise from the earth and beat us all senselessly for our lunch money, just as soon as Saudi Arabia gives us new hardware platforms. Be concerned. Game studios are getting investment money. The horror. The horror.
 

Lunarorbit

Member
An extremely religious nation, having the second biggest vote weight in the company, might cause some strange artistic decisions in future games.
Plus bin salaam had that journalist killed. He's an evil piece of shit. Not that I bought snk products before but I won't now.
 

PSbigfan

Neo Member
An extremely religious nation, having the second biggest vote weight in the company, might cause some strange artistic decisions in future games.
Don't believe everything on internet "extremely religious nation"
If You mean by religious (money) I say ok ,if you mean otherwise think's again.
 
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winjer

Gold Member
Don't believe everything on internet "extremely religious nation"
If You mean by religious (money) I say ok ,if you mean otherwise think's again.

You do realize that after 1979, Saudi Arabia adopted a very strick enforcement of Sharia. This made it one of the most extremist religious countries in the world.

Let me quote Crown Prince Mohammed Bin Salman, regarding Saudi Arabia before 1979.

"We were living a normal life like the rest of the Gulf countries, women were driving cars, there were movie theatres in Saudi Arabia."
 
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