BLAST May Have 30% of Its Investment Lost in 2023

BLAST may lose a large amount of investment in 2023.

Tournament operator BLAST may lose investment from the Danish government in 2023. Denmark owns 30% of BLAST shares and has already invested more than $10 million. The refusal of a further investment may be connected with the BLAST Premier World Final 2022 tournament held in Abu Dhabi and cooperation with several Arab companies.

What is the Conflict?

Danish MPs and Amnesty International Denmark condemned BLAST for cooperating with the governments of the UAE, Saudi Arabia, and Bahrain. According to independent sources, human rights are often violated in these countries, which is why the deputies and Amnesty International do not consider cooperation acceptable.

They are not against the cooperation of private companies with these states, but they will not allow Danish taxpayers' money to go to such organizations.

Who Does BLAST Cooperate With?

The Danish government sponsors BLAST through the Vaekstfonden and invests taxpayers' money in the tournament operator. As a result, Denmark controls 20-30% of BLAST, which is a considerable share.

At the same time, BLAST often works with Arab countries. In 2019, the tournament operator was criticized for holding the tournament in Bahrain, in 2020 it sought to conclude a cooperation agreement with NEOM, a smart city construction project in Saudi Arabia.

And right now, BLAST has a three-year contract with Abu Dhabi Gaming, within the framework of which BLAST Premier World Final 2022 was held. All these companies are state-owned, which causes dissatisfaction.

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What Will Happen With BLAST?

Previously, the Danish government did not pay attention to the public dissatisfaction with the work of BLAST. However, dissatisfaction has been expressed from within the government, which may hit the tournament operator.

If BLAST loses the government's investment, it will hit the organization hard, but it will release it from its obligations to the state, which will untie BLAST's hands. Moreover, it will start holding much more tournaments in Arab countries because they invest the most in eSports at the moment.

But, BLAST will likely be able to agree with the Danish government and remain a European tournament operator.