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Saudi Arabia has launched an annual Esports World Cup, which will include the most popular games in the world and have the largest prize pool in esports history.
In Monday night’s announcement, the Kingdom indicated that its city of Riyadh will host the annual competition.
The competition will start from the summer of 2024, a statement from Saudi Crown Prince Mohammed bin Salman said.
Participating clubs will compete for honors in various gaming disciplines for the right to become the over all Esports World Cup champion, the statement said.
“The Esports World Cup is the natural next step in Saudi Arabia’s journey to become the premier global hub for gaming and esports, offering an unmatched esports experience that pushes the boundaries of the industry,” the Crown Prince said in a statement.
The Kingdom has invested hundreds of billions of dollars in a bid to diversify the kingdom’s economy and reduce its oil dependence.
Part of the windfall will go into setting up 250 gaming companies in the Kingdom alone. This, the Group says, will create 39,000 jobs, and raise the sector’s contribution to Saudi GDP to 50 billion riyals by 2030.
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