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Saudi wealth fund eyes raising stakes in Nintendo, other game firms

Saudi Arabia's sovereign wealth fund is considering raising its stakes in Nintendo Co. and other Japanese gaming companies to strengthen the country's entertainment business in a shift from its oil-de

Saudi Arabia in recent years has been ramping up investment in entertainment businesses, such as games and animation, as Crown Prince Mohammed bin Salman, who also serves as Savvy's chair, seeks to shift its economic focus away from the volatile oil industry. As part of such efforts, the country is building an entertainment city named Qiddiya southwest of Riyadh, which will include a stadium, Formula One track, esports facilities and the world's first theme park devoted to the globally popular anime and manga series "Dragon Ball." Japanese companies are seeking to leverage their intellectual property to diversify profit sources, such as merchandise and animation featuring their popular game characters.

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