Saudi Wealth Fund apos;s Savvy Games Group To Invest 37.8 Billion

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.

Police also arrested and charged a 45-year-old man from North Batemans Bay with a number of offences related to illegal firearms, ammunition and possessing a gaming machine that isn't approved.
He was also granted a conditional bail.

It will be the first time a professional Australian e-sports team joins a global league on a permanent basis, NBL Oz Gaming to be based in the United States and join fellow expansion sides from Shanghai and Mexico City in the 25-team competition.

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)

Star Entertainment could have its gaming licences torn up at two of its Queensland Casinos with an inquiry set to hand down a damning report on Thursday alleging money laundering, tax fraud and Vip-Sms.Blogsky.Com offering gifts for suspected criminals.

Three of those turnovers came in the first quarter before Simmons had managed a single assist, the Heat defence anticipating a pass from the Australian who has faced intense criticism over his reluctance to shoot.

Star managing director Matt Beiker resigned inside the third week of hearings after an auditor said he'd been berated by the casino boss for reporting the organisation was not doing enough to comply with anti-money laundering and counter-terrorism financing laws.
Police intercepted a package sent from Batemans Bay, in New South Wales, to Queensland last month, with officers finding white powder hidden inside the toy from the international smash hit children's show on the ABC.

They allegedly recovered seven firearms, gel blasters, a replica handgun, a kilogram of tobacco, steroids, cannabis, a crystalised substance believed to be MDMA, a prohibited laser pointer and $1,600 cash.

"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.

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."

'Other than when I was 12 years old, I have never, ever, ever - and I would never do that, that is the worst thing that I could ever do - cheat in a tournament with prize money,' Niemann said afterwards.

"We are harnessing the untapped potential across the esports and games sector to diversify our economy, drive innovation in the sector and further scale the entertainment and esports competition offerings across the Kingdom."

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".

However, an extensive investigation into Neimann's online play by Chess.com found he likely broke the rules in tournaments as recently as 2020, noting 'many remarkable signals and unusual patterns in Hans' path as a player', according to a .

Senior management admitted junket operator Suncity continued operating inside Star despite a Hong Kong Jockey Club report in 2019 linking the group to triads, 'large scale' money laundering and drug trafficking.

The damning report comes after Niemann made headlines in September when chess champion Magnus Carlsen (pictured) suggested Niemann was a cheater, which culminated in rumors the 19-year-old was using vibrating anal beads to communicate with his coach

A clearly frustrated Niemann quickly cut the interview short, telling the interviewer:  'You can leave it to your own interpretation but thank you, that's it,' before walking out, much to the incredulity of commentators.

Mr Gotterson has recommended casinos introduce gambling cards with a person's identity as well as $1000 cash transaction limits to reduce the likelihood of money laundering and to help gambling addicts.

Chess.com explained that they applied statistical analysis to Niemann's games, comparing his moves to those a chess engine would make in the same position. A high correlation between the two strongly points towards cheating.

His scan before the first round of the US Chess Championships yesterday endured considerably longer than those of other contestants and the guard even turned him around to scan his behind - prompting laughter from commentators. 

Hans Niemann, 19, was accused of cheating by world champion Magnus Carlsen last month after the teen managed to beat the Norwegian - widely considered to be the world's best chess player - seemingly without concentrating.