Saudi Arabia's Crown Prince buys one third stake in gaming company SNK
The Crown Prince of Saudi Arabia’s official charity has bought one third of Japanese gaming company SNK Corporation.
The Mohammed bin Salman Charitable Foundation, better known as “Misk”, paid £162million for the stake. As reported by Eurogamer, Misk confirmed it would soon purchase another 17.7 per cent of SNK in a statement released following the sale.
This additional sale will take the stake to 51 per cent, giving the foundation majority shareholdings when it goes through.
The development is the latest in a long line of moves by bin Salman to increase Saudi Arabia’s cultural reputation. However, many of his moves have been criticised.
Riot Games recently ended a sponsorship deal for League Of Legends with NEOM after fans expressed concern over Saudi Arabia’s involvement. Saudi Arabia has a decade-long WWE deal and will also host its first F1 Grand Prix next year. Both events have drawn fan complaints.
