The deal is done: Electronic Arts is now officially owned by Saudi Arabia

And now it’s official: Electronic Arts, one of the most storied publishers in videogame history, has been fully acquired by a consortium made up of Saudi Arabia’s Public Investment Fund and investment firms Silver Lake and Affinity Partners. EA said in a press release that the takeover “brings long-term capital, sector expertise, and strategic support” to the company, which is now “positioned to accelerate creativity and innovation to shape the future of entertainment.”

“This moment recognizes the extraordinary people whose creativity, ambition and passion have made EA one of the world’s leading interactive entertainment companies,” Electronic Arts CEO and chairman Andrew Wilson said in a statement.

“We’re entering this next chapter from a position of strength with partners who share our vision and ambition. Together, we’ll invest boldly, accelerate innovation, and build the next generation of games and experiences for the hundreds of millions of players and fans who inspire us every day.”

While EA’s new ownership is nominally a consortium, the deal leaves Saudi Arabia firmly in control of the company, with an ownership stake of 93.4%. That’s caused some concern among observers who worry that the kingdom’s notorious repression of human rights, particularly among women and the LGBTQ+ community, leave the company’s future support for inclusive games like The Sims—or anything that’s not “guns and football,” as former BioWare lead writer Trick Weekes put it—in jeopardy.

Wilson has previously said the company’s values will “remain unchanged” under its new owners, but Saudi Arabia hasn’t been shy about using videogames to sportswash its reputation in the past, and I see little reason to expect that to change now that it has full control of one of the world’s biggest and best-known game publishers.

Still, money talks, as the saying goes, and an awful lot of it was thrown around in this deal. Saudi Arabia’s purchase of EA is the biggest leveraged buyout in private equity history, which imposes significant financial risks alongside all the moral ones. No one really knows what to expect from EA going forward, but—again, invoking Weekes—it does seem that anything not EA Sports FC or Battlefield is subject to at least some uncertainty.

The specter of an increased focus on AI has also loomed over this deal, as EA has spent the last year and change laying off game devs—a move possibly aimed at helping lighten the $20 billion debt load EA has taken on to finance the deal. That didn’t stop the company from giving Wilson $38 million for a year of whatever he does, though—$8 million more than he got last year.

In any event, Silver Lake CEO and managing partner Egon Durban effectively confirmed that EA is indeed looking to AI as the future. “EA’s franchises are some of the most beloved in entertainment, combining exceptional creative talent with a relentless focus on players,” Durban said. “As long-term investors in technology, we admire how EA’s innovation fuels imagination and human connection.

“We’re proud to join with PIF and Affinity Partners to invest heavily in EA’s growth, including what AI can do to enhance game development and player experience, and excited to partner with Andrew and the EA team as they raise the bar for fans everywhere.”

And yes, Jared Kushner, son-in-law of US president Donald Trump and owner of Affinity Partners, had similarly upbeat comments on the whole thing: “EA has created stories, characters, and communities that have become part of everyday life for hundreds of millions of people. We’re excited to support the company as it continues to reach new audiences, inspire the next generation of creators, and expand the ways people around the world connect through play.”

While a minority player on the financial side, Kushner was presumably key in getting the deal done: Along with being Trump’s son-in-law, he has significant financial ties with Saudi Arabia through the PIF’s $2 billion investment in Affinity Partners. Kushner is also a US diplomatic envoy to the Middle East.

With the purchase complete, Electronic Arts will be delisted from the NASDAQ.