Since this past summer, Global Gaming has been fighting for their right to resume online casino services in Sweden. Back in June, the gambling regulatory body of Sweden, Spelinspektionen, revoked a gambling license held by SafeEnt Ltd. The subsidiary of Global Gaming operated Ninja Casino, a Swedish facing site. The operator has tried to see the gaming license reinstated, but to no avail.
Spelinspektionen revoked the gaming license after stating that Ninja Casino failed to adhere to anti-money laundering practices and social responsibility regulations. Earlier this week, Global announced that the Supreme Administrative Court of Sweden rejected their appeal of the license renewal. No information was provided as to why the appeal was denied.
CEO of Global Gaming, Tobias Fagerlund, commented that the company was disappointed of the outcome and are now reviewing the decision in detail and assumes that an appeal of the decision will be taken to the Administrative Court of Appeal in the future.
Along with the license loss, Ninja Casino is facing another court action in Sweden. The brand is in trouble for their promotions, being accused of failing to follow a requirement where moderation should be followed based on advertising. The case against the online casino brand is a first and is being considered as the way to establish parameters for the definition of moderate advertising activity.
Hit Hard by Loss of License:
When the Swedish license was revoked, the Q2 revenue for Global Gaming plummeted. The company saw a drop of 42% year-on-year to SEK 132.2m ($13.8m). The drop was reported in August and according to Mr. Fagerlund, the first three months after the license loss was ‘turbulent and difficult’ for the company.