Saudi crown prince's gaming firm acquires 5% stake in capcom, boosting country's ownership to 10%

Saudi Arabia's gaming ambitions have taken a significant step forward with the acquisition of a 5% stake in Japanese video game giant Capcom by the Electronic Gaming Development Company (EGDC), a subsidiary of Crown Prince Mohammed bin Salman's Misk Foundation.

Crown prince's gaming investments reach new heights

EGDC's purchase of an additional 26.78 million shares, valued at around ¥14.4 billion ($130 million), brings Saudi Arabia's total ownership of Capcom to around 10%. This follows the country's Public Investment Fund (PIF) already holding a 5% stake in the company.

Capcom's latest Resident Evil Requiem installment has been a commercial success, selling six million copies and becoming the fastest-selling entry in the horror series since its inception in 1996.

This marks another major gaming investment for the Saudi Crown Prince, who has already acquired significant stakes in Take-Two, EA, Activision Blizzard, and nearly owns Japanese firm SNK Corporation through a subsidiary.

As gaming investments continue to grow in Saudi Arabia, concerns have been raised about the country's influence in the industry, particularly following Ubisoft's partnership with Saudi Arabia to create new Assassin's Creed Mirage DLC. Meanwhile, some content creators have opted out of EA's Creator Network due to the company's pending acquisition by an investor group including Saudi Arabia's PIF.