Saudi wealth fund's Savvy Games Group to invest $37.8 billion
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October 25, 2022 at 7:52 pm #123817gabrielagarsiaParticipant
<br>’And it’s nice when I walk down the hallway and I hear, ‘Waddup Beast?” For whatever reason, he calls me ‘Beast’ all the time. I don’t think I give off the beast vibe, but and we’ll just take it day by day.'<br><br>Sept 29 (Reuters) – Saudi Arabia’s Savvy Games Group, owned by sovereign wealth fund PIF, will invest 142 billion riyals ($37.8 billion) in initiatives aimed at making the kingdom a global hub for gaming, state news agency SPA said on Thursday.<br><br>”We are harnessing the untapped potential across the esports and games sector Poker Pkv to diversify our economy, drive innovation in the sector and further scale the entertainment and esports competition offerings across the Kingdom.”<br><br>’A girl was given treatment at the scene for non-life threatening injuries before being conveyed to Worcestershire Royal Hospital.<br>A man, a woman and a second boy were also taken to the same hospital as a precaution for further checks.'<br><br>’Two paramedic officers, four ambulances, two critical care paramedics from the Midlands Air Ambulance charity, HART paramedics and the Midlands Air Ambulance helicopter from Cosford with medics on board attended the scene.<br><br>Another 20 billion riyals will be invested in mature industry partners who bring expertise to Savvy’s portfolio and 2 billion riyals will target industry disruptors “to grow early-stage games and esports companies.”<br>The driver is understood to have been an accomplished off-road driver who knew the site ‘like the back of his hand’, with roll-bars fitted to the off-road vehicle said to have prevented an even greater tragedy.<br><br>The investments will include 70 billion riyals to take several minority stakes in companies that support Savvy’s game development agenda and 50 billion riyals to acquire “a leading game publisher to become a strategic development partner”.<br><br>”Savvy Games Group is one part of our ambitious strategy aiming to make Saudi Arabia the ultimate global hub for the games and esports sector by 2030,” Crown Prince Mohammed bin Salman said, according to SPA.<br><br>It has five independent subsidiaries, including esports arm EFG, as well as Nine66, which “is building an ecosystem for game developers and studios”, and VOV company, which is building gaming and competition venues. ($1 = 3.7580 riyals) (Reporting by Ahmed Tolba and Enas Alashray in Cairo; writing by Yousef Saba in Dubai; editing by David Evans, Alexandra Hudson)<br>
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- This reply was modified 2 years ago by bretkinney.
- This reply was modified 2 years ago by bretkinney.
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