Gamers Without Borders: Gaming for Good

How Gamers Without Borders gave back to the world through renowned humanitarian aid partners by “Gaming For Good”

Now in its fourth edition, this year Gamers Without Borders provided a humanitarian aid prize pool of $10 million for the elite competitions taking place across six weeks of action.
Now in its fourth edition, this year Gamers Without Borders provided a humanitarian aid prize pool of $10 million for the elite competitions taking place across six weeks of action.
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Gamers Without Borders: Gaming for Good

Now in its fourth edition, this year Gamers Without Borders provided a humanitarian aid prize pool of $10 million for the elite competitions taking place across six weeks of action.
Now in its fourth edition, this year Gamers Without Borders provided a humanitarian aid prize pool of $10 million for the elite competitions taking place across six weeks of action.

Do you know how special it is seeing a refugee child’s face come to life as they relish the simple but wonderful thrill of playing a video game? Being able to witness renewed confidence instilled in women in need by gaming alongside other women, be it online or in person, in a similar situation? Or how powerful it is for an anxious, teenage gamer to realize that the pocket money they so generously donated is making a difference to the lives of people across the world?

“Gamers Without Borders: Gaming For Good”, the world’s largest charitable esports event, which is organized by the Saudi Esports Federation, is more than a gaming competition. It is an event that celebrates the power and joy of gaming while ensuring that gaming can be an immensely powerful force in helping people wherever they might be in the world. And with more than three billion active video gamers in the world – just under half the global population – the gaming and esports industry is one which has the opportunity and capability to impact a huge amount of people.

Now in its fourth edition, this year Gamers Without Borders provided a humanitarian aid prize pool of $10 million for the elite competitions taking place across six weeks of action. The proceeds are being donated to humanitarian aid partners Direct Relief, International Medical Corps (IMC), UNICEF, King Salman Humanitarian Aid and Relief Center, World Food Program (WFP) and UNHCR.

But there’s more than that. In addition to the donations made through the elite competitions, Gamers Without Borders offered the chance for everyone to donate and make a difference by choosing a charity and a cause they wanted to support.

The three previous editions of Gamers Without Borders also raised an incredible total of more than $10 million each year. The first edition raised the sum for COVID relief, the second for vaccine distribution, and the third, like this year, for various humanitarian aid partners.

This year, from a six-week period which began on April 10 this year, Gamers Without Borders hosted five tournaments across four major gaming titles: StarCraft II, Counter-Strike: Global Offensive (CS:GO), Rocket League, and Tom Clancy’s Rainbow Six Siege.

Recently, the first all-women CS:GO tournament at Gamers Without Borders took place, an event that Prince Faisal bin Bandar bin Sultan, chairman of the Saudi Esports Federation, said would play “a significant role in furthering women’s involvement in esports”.

With figures issued last year by Saudi Arabia’s Ministry of Communications and Information Technology showing 48 percent of the Kingdom’s 23.5 million gamers are female, the tournament was the latest in numerous initiatives by the federation to ensure that women are equally represented across the esports ecosystem.

As a huge incentive for the elite teams and the multitude of fans across the globe who adore watching them play, this year’s Gamers Without Borders saw an added and exciting twist. The winning teams and players from StarCraft II, Rocket League, and Tom Clancy’s Rainbow Six Siege, as well as two sides from the men’s CS:GO tournament, advanced to the finals at Gamers8: The Land of Heroes, the biggest gaming and esports festival worldwide.

The entertainment extravaganza – which also includes live concerts from global, regional, and local music stars, activities, attractions, and education platforms – will take place in Riyadh for eight weeks from July 6. A $45 million total prize pool is on offer across the elite gaming titles being hosted in the Saudi Arabian capital at the purpose-built venue at Boulevard Riyadh City this summer.

It also continues to showcase how popular and powerful gaming – with a global worth of around $170 billion, more than Hollywood and the music industry combined – can be. And what can be achieved through organizations such as Direct Relief, IMC, UNICEF, King Salman Humanitarian Aid and Relief Center, World Food Program (WFP) and UNHCR through “Gaming For Good”.



Toyota Industries Sinks after Parent's Takeover Bid Misses Expectations

A Toyota Logo is seen at a Toyota dealership in Zaventem, Belgium, November 25, 2022. REUTERS/Johanna Geron/File Photo
A Toyota Logo is seen at a Toyota dealership in Zaventem, Belgium, November 25, 2022. REUTERS/Johanna Geron/File Photo
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Toyota Industries Sinks after Parent's Takeover Bid Misses Expectations

A Toyota Logo is seen at a Toyota dealership in Zaventem, Belgium, November 25, 2022. REUTERS/Johanna Geron/File Photo
A Toyota Logo is seen at a Toyota dealership in Zaventem, Belgium, November 25, 2022. REUTERS/Johanna Geron/File Photo

Investors gave a thumbs-down to Toyota Motor's $33 billion take-private offer for Toyota Industries on Wednesday, highlighting concerns minority shareholders would be short-changed in a landmark restructuring for Japan Inc.

Shares of Toyota Industries, a key Toyota Group company, fell 12% in Tokyo trade a day after the world's top-selling automaker unveiled plans to take the subsidiary private. The complex 4.7 trillion yen ($33 billion) transaction includes an offer price of 16,300 yen a share for Toyota Industries.

While that represents a 23% premium to the price before word of the deal broke in April, it is well below the 18,400 yen price before the offer was formally announced. Shares closed at 16,205 yen on Wednesday.

"To be clear, we welcome the attempt to clear up the parent-subsidiary governance issue. We don't like the price," said David Mitchinson, founding partner and chief investment officer of Zennor Asset Management, which owns Toyota Industries shares, Reuters reported.

When asked if Zennor would tender its shares, he said: "We will have to see how this develops as there seems strong opposition from many shareholders".

The deal will see a number of Toyota Group companies unwind cross-shareholdings, something Japanese regulators and the Tokyo Stock Exchange have long urged for better governance.

Toyota Industries has been one of Japan's most prominent examples of so-called "parent-child listings", where both a parent company and its subsidiary are listed. Governance experts say such cases are inherently unfair to minority shareholders and a drag on corporate value.

Still, the transaction comes up short in terms of corporate governance, as it both undervalues Toyota Industries' substantial real estate holdings and strengthens the founding Toyoda family's control over the broader group, market participants said.

"There's huge hidden asset value in the land and other holdings at Toyota Industries. And the price should have been much higher," Nicholas Benes, a governance expert and the CEO of the Board Training Institute of Japan, told a briefing on Wednesday.

The deal was a "prime example" of a squeeze-out of minority shareholders at an unfair price by founders and management, he said.

In a statement, Toyota Motor said the interests of Toyota Industries' minority shareholders were being considered. "Taking into account shareholder returns and the tax benefits for Toyota Industries, we have adopted a share buyback scheme" through a tender offer, it said.

It said the deal was part of a broader realignment of capital structures within the Toyota Group as it moved toward becoming a mobility company.

A new holding company will be set up for the deal. Group real estate company Toyota Fudosan will invest 180 billion yen, while Akio Toyoda, Toyota Motor's chairman, will invest 1 billion yen. Toyota Motor will invest 700 billion yen in non-voting preferred shares.

Media reports had indicated the tender offer would be around $42 billion, a substantial premium to the actual offer.

Toyota Motor and group companies Aisin, Denso and Toyota Tsusho will all sell their shares in Toyota Industries and acquire their own shares now held by it.

Toyota owned about 24% of Toyota Industries as of September last year, while Toyota Industries held around 9% of the automaker and more than 5% of Denso.

Toyota Industries, formerly Toyoda Automatic Loom Works, was founded in 1926 to make automatic looms. An automotive division within the company was set up and later spun off as Toyota Motor.