Saudi, Chinese companies announce deal on esports

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Saudi, Chinese companies announce deal on esports

STORY: Saudi, Chinese companies announce deal on esports DATELINE: Feb. 18, 2023 LENGTH: 0:01:12 LOCATION: Riyadh CATEGORY: SOCIETY SHOTLIST: 1. various of the investment signing ceremony 2. SOUNDBITE (English): DANNY TANG, CFO and Co-Founder of VSPO STORYLINE: According to an investment deal revealed on Thursday, Savvy Games Group owned by Saudi Arabia's sovereign wealth fund will invest 265 million U.S. dollars in Chinese esports company VSPO. Savvy, wholly owned by Saudi Arabia's Public Investment Fund, will become VSPO's single largest equity holder through the deal. The two companies said that the deal symbolizes a "landmark commercial partnership" between China, the world's biggest esports market, and Saudi Arabia as it implements Vision 2030 to become a leading global hub for gaming and esports. SOUNDBITE (English): DANNY TANG, CFO and Co-Founder of VSPO "We're very excited about the partnership with Savvy Games Group and about joining forces with them to elevate esports to a global level. When w

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