Saudi Arabia’s ambitions to become a global gaming powerhouse are set to clear another major regulatory hurdle.

The European Commission is expected to clear the Saudi-led consortium’s acquisition of Electronic Arts under both foreign subsidy and merger rules. This brings one of the kingdom’s biggest gaming investments closer to completion.

A consortium led by Saudi Arabia’s Public Investment Fund (PIF) is expected to receive European Union approval for its proposed USD 55 billion acquisition of video game publisher Electronic Arts (EA), according to Reuters. If finalized, the deal would become the largest leveraged buyout in history and further cement Saudi Arabia’s growing footprint in the global gaming industry.

Why You Should Care

The anticipated approval signals that Saudi Arabia’s sovereign wealth fund can continue deploying capital into strategic global assets, even as Europe tightens oversight of foreign state-backed investments.

 For founders, investors, and gaming companies across MENA, it highlights the region’s expanding influence in one of the world’s fastest-growing entertainment sectors and reinforces gaming as a long-term pillar of the kingdom’s economic diversification strategy.

The Details

The consortium, which also includes Affinity Partners, the investment firm founded by Jared Kushner, and private equity firm Silver Lake, announced the acquisition in September 2025.

The European Commission is expected to approve the transaction under the EU’s Foreign Subsidies Regulation (FSR) after its preliminary review concludes on July 30. The regulation is designed to ensure that financial support from non-EU governments does not distort competition within the bloc.

The acquisition is also expected to receive unconditional clearance under the EU’s merger rules, with a preliminary decision due on July 22. Together, the approvals would remove two significant regulatory hurdles for the landmark transaction.

The deal reflects PIF’s continued push into gaming, complementing investments across esports, game development, and digital entertainment. It also aligns with Saudi Arabia’s broader Vision 2030 strategy to diversify its economy beyond oil by expanding into sectors including technology, tourism, sports, and entertainment.

The acquisition comes as the global gaming market begins to recover following several years of slower growth, positioning PIF to capitalize on the long-term value of established gaming franchises.

The Ripple

The expected approval could set an important precedent for future Gulf investments in Europe. Recent acquisitions involving Middle Eastern state-backed companies, including ADNOC’s purchase of Covestro and UAE telecom operator e&’s acquisition of assets from PPF, faced more extensive regulatory reviews before gaining approval.

If the Electronic Arts deal proceeds without conditions, it may indicate that European regulators are becoming more comfortable approving sovereign-backed investments when competition concerns are limited. That could encourage additional cross-border acquisitions by Gulf sovereign wealth funds in technology, media, and digital infrastructure.

For the gaming industry, the transaction also underscores the growing role of sovereign investors in shaping the future of interactive entertainment, particularly as publishers seek long-term capital following an industry slowdown.

What to Watch

The European Commission’s final decisions later this month will determine whether the acquisition moves into its final stages without additional conditions. Beyond this deal, investors will be watching whether the ruling shapes how European regulators approach future investments by Gulf sovereign wealth funds, particularly in strategic sectors such as technology, gaming, and digital media.