Tobias Fagerlund appointed permanent CEO of Global Gaming
Embattled operator strengthens management ahead of Swedish licence appeal hearing
Malta-licensed operator Global Gaming has appointed Tobias Fagerlund as its new president and CEO, the company announced today.
Fagerlund has been acting CEO of the company since 29 April following the departure of previous CEO Joacim Möller, who was sacked for failing to meet revenue targets.
A partner in provider Relax Gaming, Fagerlund has occupied C-level roles at several Swedish based firms.
Last month, Global Gaming became the first operator to be stripped of its Swedish licence following an investigation by the Swedish Gambling Authority which revealed “serious failings” in its anti-money laundering and social responsibility policies. The operator has since launched an appeal.
Fagerlund said he would have “naturally preferred to be appointed under different circumstances” but had no reservations in accepting the role on a permanent basis.
“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,” Fagerlund said.
Global Gaming lost its initial claim for so-called injunctive relief, which would have allowed it to continue to operate its Ninja Casino brand while its appeal was being heard in the courts.
Highlighting the damaging situation to customers, shareholders and employees, Fagerlund pledged to do everything in his power to restore confidence in Global Gaming and its Swedish operations.
Global Gaming’s share price fell sharply following the news of its Swedish licence revocation
“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,” Fagerlund added.
The operator is seen as unlikely to win its appeal and could be forced to sell the Ninja Casino IP to another operator or platform.