"The country's Public Investment Fund has made a bunch of bad bets, according to The New York Times (via Game Developer). It reports that the sovereign wealth fund is running low on cash for new investments. You might remember one of them being a concept for a futuristic city in the desert in the shape of one long line. This makes the fund's massive bid to take EA private seem somewhat more desperate and precarious,"
"Notably, the EA Saudi deal was reportedly facilitated by Jared Kushner, President Trump's son-in-law. MBS recently visited the White House in exchange for fighter jets, advanced AI chips, and god knows what else. Trump brushed off MBS's alleged role in having a Washington Post journalist murdered a few years back as " things happen" and claimed his family has done " little " business with the Kingdom. I guess the largest leveraged buyout of an American firm by a foreign entity is just table stakes these days."
The Public Investment Fund has made multiple poor investments and is reportedly running low on cash for new deals. One failed investment concept involved a futuristic linear city in the desert. The PIF's bid to take EA private is largely debt-financed and therefore potentially desperate and precarious. Embracer unraveled after a promised PIF deal failed to materialize and never recovered. The EA deal was reportedly facilitated by Jared Kushner, and MBS's recent White House visit involved arms and advanced AI chips. Political controversy surrounds MBS and U.S. leaders' responses. Black Ops 7 will feature a more generous battle pass.
Read at Kotaku
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