Saudi Arabia could soon control one of the largest publishers in gaming.
The PIF already owns 97% of SNK and controls Savvy Games Group. It also holds investments across Nintendo, Take-Two, Capcom and Embracer Group. Silver Lake and Affinity Partners, the investment firm led by Jared Kushner, are backing the EA purchase.
EU approval removes one of the final major barriers. The Commission reviewed the deal under its normal procedure and cleared it without conditions.
“The Commission concluded that the notified transaction would not raise competition concerns, given its limited impact on competition in the markets where the companies are active. The notified transaction was examined under the normal merger review procedure.”
At $55 billion, the EA acquisition would become the largest private leveraged buyout ever completed. It would also rank behind only the Microsoft purchase of Activision Blizzard among gaming deals.
EA executives say the publisher will retain creative control. However, critics question how much independence can remain once Saudi funding becomes central to company ownership.
Those concerns have already followed SNK. Fatal Fury: City of the Wolves added Cristiano Ronaldo and DJ Salvatore Ganacci as guest fighters. Ronaldo plays in the PIF-funded Saudi Pro League, while Ganacci has performed in Saudi Arabia.
Games Done Quick also ended a sponsored Metal Slug anniversary broadcast early after criticism over its work with PIF-owned SNK.
Saudi Arabia presents gaming investment as part of a plan to reduce economic dependence on oil. Critics instead compare the strategy with its spending on LIV Golf and the Saudi Pro League. They argue that entertainment investment helps shift attention away from human rights abuses, migrant worker conditions, anti-LGBTQ laws and the killing of journalist Jamal Khashoggi.
The Commission limited its decision to competition questions.
“The transaction relates primarily to the production and distribution of video games for mobile devices, PCs and consoles, as well as the organisation and commercialisation of video game competitions, commonly referred to as electronic sports events.”
The deal still needs to close, but regulatory barriers are falling. The larger question now concerns how much influence the new owners will have over EA games, staff and creative decisions.