Shares in Ninja Casino operator Global Gaming were trading 3 per cent higher in Stockholm Tuesday morning after the company announced the appointment of Tobias Fagerlund as acting chief executive.

The company’s board said that new Swedish gambling legislation had impacted all operators in the market, not least Global Gaming, but noted that the company is fundamentally strong with great potential to continue to be a significant player in the Swedish market.

“In order to succeed, the company’s adaptation needs to be further intensified. It is the board’s opinion that the extensive work and the way forward needs a new leadership,” said the board.

Fagerlund assumes leadership of the company from chief executive Joacim Möller, who will leave the business with immediate effect.

Fagerlund has served on the board of Global Gaming since 2016 and holds extensive experience from leading operational and board positions in the gaming industry.

The company added that it will begin the search for a permanent CEO immediately.

Shares in Global Gaming 555 AB (STO:GLOBAL) were trading up 3.2 per cent at SEK7.41 per share in Stockholm Tuesday morning, having set a new 52-week low of SEK6.70 per share on April 24th.

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