Embattled Stockholm-listed online gambling group Global Gaming AB has confirmed the appointment of Tobias Fagerlund as President & CEO with immediate effect.
Fagerlund has acted as Global Gaming’s interim CEO since April 2019, following the resignation of former incumbent Joacim Möller.
Appointing Fagerlund, Global Gaming terminates its executive search for a new leader, as corporate governance focuses on the suspension of flagship property Ninja Casino from the Swedish igaming market for ‘serial care-of-duty deficiencies’.
This June, Swedish regulator Spelinspektionen revoked Ninja Casino’s igaming licence, detailing that operating company SafeEnt, a Global Gaming subsidiary had breached multiple AML safeguards, player protections and responsibility standards.
Global Gaming maintains that it has operated Ninja Casino, in-line with Spelinspektionen licensing requirements and expectations, and is in the process of appealing of Swedish inspectorates’ enforcement.
Tobias Fagerlund commented: “It is with confidence and humility that I have agreed to take on this role. I would have naturally preferred to be appointed under different circumstances, but I have no reservations in accepting it. I have a great deal of faith in Global Gaming and stand by what I have said in recent weeks: the regulator’s decision to revoke our licences is incorrect and disproportionate. We are confident that we are compliant with the requirements of the Swedish legislation, and I have faith in the judicial process and look forward to its outcome.
“The current situation is damaging to us, our customers, our employees and approximately 6,000 shareholders for every day that goes by. We will do everything in our power to restore as much confidence as possible in us, in order to be able to offer our brands to our customers in Sweden again soon.”
Closing its statement, Global Gaming governance confirms that Fagerlund will remain a member of the Board of Directors.