Chinese investors wouldn’t just be dipping their toes into Hollywood’s waters, the ever expanding video game industry would see Chinese money swim their way. The rise of eSports and computer games in general over the last decade had come in no small part due to the popularity of games like League of Legends. Its creator, Riot Games, would start life as an independent game developer but that independence would be lost in 2011 when Chinese holding company Tencent came knocking.
It cannot be denied that the multiplayer online battle arena game League of Legends is a huge property, released on October 27, 2009, it has morphed into a brand with merchandise, toys, accessories, and all manner of apparel.
Tencent Holdings Ltd, which was founded in 1998, saw the potential profits that could be made owning this world conquering game, so, they would pay an initial $400 million for a majority of Riot Games before buying the company outright in 2015 for an as yet unknown sum.
Much like with the Dalian Wanda Group’s acquisition of the AMC theater chain and the Legendary Entertainment Group, Tencent would not just rest with owning Riot Games. They also hold large stakes in Activision-Blizzard, who created the mammoth successes Call of Duty and World of Warcraft to name a few.
They also have a 48.4% stake in Epic Games who created the hugely popular Fornite and Gears of War.