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Embracer Group adds a precious IP with Lord of the Rings

Washington Post - Technology News

In June, Embracer's resources were further strengthened through a controversial $1 billion investment by Savvy Gaming Group (SGG), an arm of Saudi Arabia's Public Investment Fund which in turn is owned and operated by Crown Prince Mohammed bin Salman. The investment was met with backlash due to Saudi Arabia's history of human rights abuses and the prince's suspected role in the assassination of Saudi journalist Jamal Khashoggi (Khashoggi was also a columnist for The Washington Post). Embracer CEO Lars Wingefors that the financial support from SGG would not influence how Embracer is run in any way, stating that the company is "built on the principles of freedom, inclusion, humanity and openness," in a subsequent press release.