HA NOI (VNS) — Grandmaster Le Quang Liem is competing in the Open Category of the Millionaire Chess Tournament which kicked off this morning at Planet Hollywood Resort and Casino in Las Vegas, Nevada.

At least 27 chess grandmasters and a slew of hopeful and enthusiastic amateurs are among more than 500 players from 43 countries who have each paid a US$1,000 entrance fee to play in the world's first Millionaire Chess tournament.

They will compete in six categories ranging from U14 to U22, as well as the Millionaire Chess Open with a $1-million grand prize. The final rounds for all categories will take place on Monday.

The first seven rounds of each category will serve as qualifying rounds for the finals. Four finalists will move on to play two knock-out rounds to determine who wins the top prize.

The last two rounds of the Open category, also scheduled on Monday, will determine who ranks fifth and below and give players a chance to acquire norms.

Millionaire Chess is the brainchild of Maurice Ashley, a Jamaican immigrant who made headlines as the first African-American grandmaster in 1999, and Amy Lee, a businesswoman from Vancouver, Canada. — VNS