We’ve learned Saudi Arabia now owns 96% of SNK Corporation, news now confirmed via their latest operations filing.
As per the original acquisition for SNK Corporation, the financial transactions are handled by Saudi Arabia’s Electronic Gaming Development Company, of whom the sole owner and shareholder is Saudi Arabia’s crown prince, Mohamed bin Salman bin Abdulaziz Al-Saud.
This effectively makes iconic Japanese developer SNK Corporation a wholly-owned subsidiary of the Mohamed bin Salman bin Abdulaziz Al-Saud Foundation.
The original transaction and filing confirming Saudi Arabia now owns 96% of SNK Corporation was actually submitted back in February 2022, but only just now got revealed publicly.
Saudi Arabia’s crown prince originally wanted to get at least 51% stake with SNK Corporation, giving them majority control of the Japanese company – only now Saudi Arabia now owns 96% of SNK Corporation.
Other previous and large acquisitions in gaming companies by Saudi Arabia’s crown prince included over $1 billion into both Capcom and Nexon, as well as over $3 billion into other large game developers like Activision Blizzard, Electronic Arts, and even Take-Two.
As such, Microsoft’s new acquisition for Activision Blizzard will net the Mohamed bin Salman bin Abdulaziz Al-Saud Foundation a nice profit if the acquisition is completed, due to the rise in value for their stocks compared to when the crown prince bought shares in the company.