Saudi Arabia's PIF reportedly running low on investable cash as it slows gaming investments

It has been reported that Saudi Arabia's Public Investment Fund (PIF) is facing a significant cash shortage for new investment opportunities, resulting in it slowing down its plans to further expand in the gaming industry. 

The details:

• According to a recent report from The New York Times, the group told investors that it cannot commit significant new capital to its global expansion without stabilizing its existing ventures. This is a major contrast to the PIF’s aggressive expansion into several industries, including sports, esports, and gaming, where it has billions acquiring stakes or even entire ownership of companies such as Nintendo, Ubisoft, Scopely, EA, ESL FACEIT, and Premier League club Newcastle United.
• It claimed that its current investments are in “financial distress,” highlighting ventures such as the futuristic Neom city project, which has been delayed on several occasions due to issues with planning. However, it appears that none of its concerns lie within the gaming industry.
• The PIF currently values its assets at around $1 trillion USD. However, a significant portion of these assets have no public valuation and are difficult to sell, leading the group to put a hold on future purchases. Despite this, Marwan Bakrali, a spokesperson for the PIF, confirmed that it still has $60 billion in cash and “similar financial instruments.”