The Public Investment Fund’s Savvy Gaming Group will become the second largest owner in Embracer Group AB after acquiring almost 100 million shares in the Karlstad-based company. The move follows a similarly sized acquisition in January, when Savvy bought the e-sports division of Modern Times Group at an enterprise value of $1.05 billion.
The PIF, as the $500 billion fund is known, continues to deepen its push into a gaming sector that is in the grip of consolidation. Last month, the fund took a 5.01% stake in Nintendo Co., marking its third investment in a Japanese games company.
RedEye9 wrote on Jun 9, 2022, 11:42:Finally took a minute to read one of the articles on this, was amused to see only 17 people were suspended. That means 31 of the 48 people playing in the SGL/LIV were not current members of the PGA. So, the quality of golfers, despite the some well known players who have switched, is not exactly top-notch...
PGA Tour officially suspends golfers (they’re no longer eligible to participate in PGA Tour tournaments) for participatinge in Saudi Golf League/LIV Golf event.How’s that for gnashing.
Mr. Tact wrote on Jun 9, 2022, 11:49:Indeed, there are stories of Biden "resetting" the Saudi relationship in light of the loss of fossil fuels from Russia and Ukraine due to the war. Realpolitik.
Yeah, but the PGA runs at most one of the the four majors, and I'm not sure even the PGA Tournament is run by them. The USGA already stated they are welcome to the US Open.
Is it "blood money"? Maybe. Are we going to stop buying their oil or selling them weapons? Nope.
WitcherOntheProwl wrote on Jun 8, 2022, 15:18:Begins? More like continues... I have been recently amused by the gnashing of teeth over the Saudi LIV golf league. What is a few hundred million to some already well off golfers compared to the 10s of billions paid to the US government for weapons? And while the PGA sponsors might not be killing journalists, I wouldn't call them paragons of virtue....
So it begins. So the corruption starts already.
Teddy wrote on Jun 9, 2022, 02:25:
This affects, for the record, Gearbox Entertainment, Coffeestain Studios, Volition, Bugbear, Warhorse Studios, Saber Interactive, and potentially Crystal Dynamics, Eidos Montreal, and Square Enix Montreal among a truck ton of other familiar names. Some 75+ studios will now likely be censored from any perceived criticism of Saudi Arabia.
Hardline Mike wrote on Jun 8, 2022, 14:15:Dismemberment ain’t cheap.
Hey that's 1 billion spent on video games and not on hiring assassins!