Embracer CEO defends taking $1B from Saudi Arabia

Embracer Group announced last week that the kingdom of Saudi Arabia, through its Savvy Gaming Group, had made a $1 billion investment (opens in new tab) in the company, granting it an 8.1% stake in Embracer Group. It was the most recent in a series of big moves into the industry made by Saudi Arabia through SGG and the Electronic Gaming Development Company, which have been controversial because of the nation’s notorious repression of human rights and, more specifically and recently, the implication of its de facto ruler in the murder and dismemberment of a journalist.

In a subsequent message (opens in new tab), Embracer CEO Lars Wingefors defended the move, saying that he understands people have “different views on this topic.” The decision to accept the investment was not taken lightly, he said, and will not change how the company is run.

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