Stockholm-listed operator Global Gaming has appointed Tobias Fagerlund as chief executive on a permanent basis.
Fagerlund has served as acting CEO since the departure of former CEO Joacim Möller in April, and has served on the company’s board since 2016.
Over the past two weeks he has battled the revocation of Global Gaming’s Ninja Casino operating license in Sweden after regulator Spelinspektionen stepped in due to what it described as “serious deficiencies” in the company's operations. The license revocation is currently under appeal.
“It is with pleasure and complete confidence that we confirm Tobias Fagerlund as president and CEO of Global Gaming,” said Global Gaming chairman Peter Eidensjö. “His long experience of both the industry and change management, coupled with his deep understanding of our current situation and the fact he possesses the personal qualities required by the situation, clearly make him the right person to shoulder the great responsibility and challenge entailed by being the CEO of Global Gaming in the future.”
Fagerlund said of his permanent appointment: “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 licenses 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.”
Shares in Global Gaming 555 AB (STO:GLOBAL) were trading up 0.39 per cent at SEK5.09 per share in Stockholm Tuesday.