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Arab Prince Officially Becomes the Largest Shareholder of SNK

SNK is not a new name in the video game industry, the owner of the King of Fighters fighting game franchise started his career in 1973 via the arcade machine business. They then developed video games in 1979 and 1980. At its peak, the company which stands for Shin Nihon Kikaku entered the home console industry with NeoGeo AES in 1990.

Their long work has made them one of the most experienced developers in the world. They have successfully produced hundreds of games, but only a few franchises have survived. One of them is the King of Fighters which debuted under the title Fatal Fury: King of Fighters.

SNK also produced several other games such as Metal Slug, Samurai Shodown, Fatal Fury, and Sakura Wars. However, they are now more focused on fighting games than several other genres which basically have games that are more arcade-oriented.

With so many portfolios, it is not surprising that so many investors want to "share" with them. But interestingly, they announced today that the Arab prince officially owns most of the shares.

According to reports from Korean websites edaily and bloter (via google translate and ResetEra), an Arab company called Electronic Gaming Development Company or EGDC reported that they had bought a 33.3% stake in SNK. Interestingly, this agreement was 100% funded by the Prince of Saudi Arabia, Mohammed bin Salman bin Abdulaziz Al Saud as the largest shareholder in EGDC.

The move is part of the many major steps that the Prince of Arabia program called “Saudi Vision 2030” will take, which will focus on technology and tourism.

SNK itself has been bought by several investors from China in 2015. They plan to change all the properties of the Japanese company "like Marvel".