A Saudi Arabian investment fund, Electronic Gaming Development Company (EGDC), has acquired a 5.03% stake in the Japanese company Capcom. This marks another step in Saudi Arabia’s strategy to expand its influence in the gaming industry.
According to a GameBiz report, EGDC purchased 26,788,500 Capcom shares. The main goal of the investment is to generate profit from stock price growth or dividends.
EGDC already owns 100% of SNK Corporation, the developer behind the well-known fighting game series Fatal Fury and The King of Fighters.
In 2022, the Public Investment Fund (PIF) of Saudi Arabia also acquired 5% stakes in Capcom and Nexon Co., investing a total of $1.2 billion.
EGDC is owned by Saudi Arabia’s Crown Prince Mohammed bin Salman through the MiSK Foundation.
Recall that Riot introduced the new Knockout mode in VALORANT.
