Saudi Arabia’s Public Investment Fund has disclosed its latest investments, and they include a number of big-name gaming companies.
The PIF spent $1.06 billion to acquire 7.4 million shares in Electronic Arts, along with 14 million shares of Activision Blizzard, at a price of $1.4 billion. The fund also increased its stake in Rockstar Games parent company Take-Two Interactive to round out its gaming investments. Come from Sports betting site VPbet
As analyst Matthew Kanterman reported on Twitter, with these new investments, the PIF now holds about 2% of Activision Blizzard shares, 2.6% of EA, and 3.5% of Take-Two.
Gaming companies have uniquely benefitted from the COVID-19 pandemic that has kept people in their homes, playing more games and spending more money on them. Stock prices across EA, Activision, and Take-Two–just to name a few of the publicly traded video game stocks–have risen sharply in the past year.
