As foreign powers continue to grow their economic influence and influence, they are actively seeking new markets to gain a foothold through multiple means. Chinese tech giants like Tencent, for example, have been very aggressive in getting a foothold in the gaming industry with significant investments in companies like Epic Games and Riot Games. It appears that Saudi Arabia is now looking to get into this as well, with Japanese developer SNK now almost completely under the full ownership of the Saudi crown prince.
SNK Corporation is one of the oldest video game companies still active in Japan, standing alongside strong Japanese associates such as Capcom and Square Enix. Originally founded in 1978 as Shin Nihon Kikaku as an arcade game developer, it is responsible for popular series including metal ingotAnd the King warriorsAnd the killer rage, among other things. The company also attempted to enter the console market with its Neo Geo console line, a family of systems ranging from indoor systems to SNK handhelds that were produced between 1990 and 2004.
It was announced on April 5 that the company had effectively come under the ownership of Saudi Crown Prince Mohammed bin Salman after a massive investment from the electronic games development company, which is owned by the Mohammed bin Salman Foundation. The Verge reports that EGDC has acquired a 96.18 percent stake in SNK Corporation, a larger investment than the previously announced 51 percent that MiSK was talking about in a press release.