Asmodees parent company sells $1B in stock to Saudi Arabian government
In a move to raise capital, The Embracer Group has issued $1B in stock to Savvy Gaming Group, which is an extension of the Public Investment Fund, itself an extension of the Saudi Arabian government. Why does this matter, you say?
The Embracer group is the owner of our own favorite gaming megacorporation, Asmodee. Asmodee, whom we think of as the big company, spent much of the past decade absorbing other board game groups - Plan B, Z-Man Games, Days of Wonder, Fantasy Flight Games, Board Game Arena, and many others are all under the Asmodee umbrella. But Asmodee itself was purchased first by the investment group Eurazeo in 2013 for $140M, then by PAI Partners in 2018 for $1.2B, and finally by The Embracer Group in March 2022 for $3B.
The Embracer Group has several holdings within video and tabletop gaming, as well as other media such as Dark Horse Comics. After the purchase, Savvy Gaming will own approximately 8% of the shares and 5% of the votes within The Embracer Group.