Stockholm-listed Global Gaming is closing down its B2B operations less than six-months after appointing its first head of B2B to lead the division.
The company said that it is terminating its white label operations to concentrate resources on its successful B2C business, which includes the NinjaCasino and SpelLandet brands. The B2B business will cease during the current quarter.
The decision to end the B2B business comes less than six-months after the company appointed Lars Kollind to the newly-created role of head of B2B.
"B2B business accounts for a small portion of the group’s revenue, roughly 2 per cent in the third quarter of 2018. After profit sharing with our partners, Global Gaming’s share is so small that it no longer justifies the cost of running, maintaining and developing white label operations ," said Global Gaming chief executive Joacim Möller.
"All of our resources will be focused on optimising and developing our fantastic brands, which we are convinced will have a positive impact on the group."
Shares in Global Gaming 555 AB (STO:GLOBAL) were trading down 0.50 per cent at SEK31.64 per share in Stockholm Monday morning.