Saudi Arabia‘s sovereign wealth fund has expressed an interest in expanding its stake in Japanese video game developer Nintendo.
The kingdom’s Public Investment Fund (PIF) currently owns 8.58 percent of Nintendo, and has stakes in Japanese video game companies Koei Tecmo and Capcom, as well as South Korean developer Nexon.
Prince Faisal bin Bandar bin Sultan Al Saud, vice chair of the PIF-owned gaming unit Savvy Games Group, revealed the plan in an interview with Japanese news agency Kyodo News.
“There are always opportunities,” he told the agency.
“It’s important to keep the communication going so you get there in the right way,” he said. “We don’t want to rush into anything.”
The news comes as Saudi Arabia invests in myriad new attractions and entertainment experiences as part of the PIF’s Vision 2030, which aims to diversify the economy and reduce the kingdom’s reliance on oil.
Qiddiya, for example, is a multibillion-dollar entertainment destination on the outskirts of Riyadh. Highlights include the world’s first Dragon Ball theme park and a gaming and esports district with four esports venues.
One of these is by stadium specialist Populous and will offer the largest combined amount of video screens of any esports arena in the world, as well as 4D haptic seats.
Research conducted by Populous and YouGov in 2022 revealed that up to 29 percent of the Saudi national population is interested in esports.
Esports and gaming experiences in the kindgom
At the same time, Nintendo is expanding its location-based entertainment (LBE) offering. Last week, it opened its first museum in a repurposed factory building in Kyoto.
Of course, the company is also behind the Super Nintendo World lands at Universal Studios Japan, Universal Studios Hollywood, and soon Universal Epic Universe in Orlando and Universal Studios Singapore.
Super Nintendo World in Japan is expanding to include a new Donkey Kong area, which will also be included in the new land at Epic Universe.
Images courtesy of Nintendo and Universal
