The Electronic Gaming Development Company (EGDC), a company with links to the Saudi Arabian Public Investment Fund, has acquired a further 5% of Capcom, taking its stake in the Japanese company to 10% as it continues to deepen its video game investment.
As reported by Gamebiz, the EDGC has purchased 26.78m shares (5.03%) in the Resident Evil and Monster Hunter developer, with the EDGC claiming that this purchase is “pure investment” for the purpose of profits from stock growth. It takes Saudi Arabi’s total ownership of Capcom to 10% after it bought 5% back in 2022.
Capcom isn’t the only company that Saudi Arabia has bought into through, with its cash-rich funds owning all of Fatal Fury: City of Wolves developer SNK, purchasing Pokemon Go and its developer Niantic last year, and trying to close a record-breaking US$55 billion acquisition of EA.
Given the country’s abhorrent human rights record, the announcement of its further investment into Capcom – and the video game industry at large – sours the news that Resident Evil Requiem has surpassed six million copies sold, making it the fastest entry in the series to reach such figures.
What is your take on Saudi Arabia’s continued investment into Capcom and other video game companies? Let us know in the comments or on social media.
Despite a childhood playing survival horrors, point and clicks and beat ’em ups, these days Zach tries to convince people that Homefront: The Revolution is a good game while pining for a sequel to The Order: 1886 and a live-action Treasure Planet film. Carlton, Burnley FC & SJ Sharks fan. Get around him on Twitter @tightinthejorts
