Saudi Arabia increases stake in EA gaming by 55%
The PIF held 16.01 million shares in Electronic Arts (EA) before Q4 2022, but after Q1 2023, it held 24.81 million shares.
Saudi Arabia’s Public Investment Fund (PIF) is pumping more money in the gaming industry, and has increased its stake in American gaming company Electronic Arts (EA) by 55%.
The PIF revealed the investment in a filing made on Monday detailing its first calendar quarter (Q1) of 2023.
What happened: The PIF’s January to March filing, released on Monday, showed that the fund purchased more shares of EA during Q4 of 2022.
The PIF held 16.1 million shares in the FIFA and Madden NFL game publisher before Q4 2022, but after Q1 2023, it held 24.81 million shares, according to financial research publisher Seeking Alpha. This is a 55% increase.
