Saudi Wealth Fund Made $3.3 Billion Bet on Video-Game Makers
- Saudis invested in Take Two, Electronic Arts and Activision
- Investment fund bought game-maker stakes in the fourth quarter
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Saudi Arabia’s sovereign wealth fund is pursuing investments in an industry long favored by Crown Prince Mohammed bin Salman: video games.
The Riyadh-based Public Investment Fund acquired more than $3 billion worth of stock in three U.S. video-game makers during the fourth quarter, according to a regulatory filing. They include Activision Blizzard Inc., Electronic Arts Inc. and Take-Two Interactive Software Inc.