Just two weeks after SafeEnt Limited had its license which enabled it to operate as a subsidiary of Global Gaming revoked, Tobias Fagerlund was appointed as the CEO and President of the company. The license was said to have been revoked as a result of various violations of the laws governing gambling in the country, as well as poor anti-money laundering controls.
The chairman of global gaming, Peter Eidensjo said it was with pleasure and absolute confidence that Tobias Fagerlund was confirmed as the new CEO and President of Global Gaming. He ascribed it to his extensive experience and understanding of the industry and change management. Peter pointed out how Fagerlund’s possession of qualities required to handle the current situation the company was going through makes him the person needed for such a role as demanding and challenging as that of the president and CEO of Global Gaming.
The appointment which was announced on July 2nd, was to take effect immediately. Before this new development, Fagerlund had been the acting CEO and President of the company from April 29th, 2019 when he assumed position succeeding Joacim Moller and has been functioning effectively and capably.
In the sequence of events, the company made known its willingness to appeal a license revocation which was imposed on the company’s subsidiary SafeEnt by the Swedish regulator Spelinspektionen. Global Gaming who also owns Ninja Casino requested that the court allows it continue its operations in Sweden. The Linköping Administrative Court took sides with the gambling regulator in a ruling issued sometime last month.
What’s currently on ground
On his recent appointment, Mr Fagerlund established his agreement to execute and carry out his new role with humility as well as confidence. He stated that he naturally would have rather been appointed under dissimilar circumstances but there really are no reservations he has in accepting the responsibility.
As regards the Swedish license of Global Gaming which was revoked by Spelinspektionen, Fagerlund stated that the act was “incorrect and disproportionate” as the company remains complaint with the Swedish gambling requirements. He stated the fact that the decision was going to bring so much damage to the company as its customers, its employees, and over 6,000 shareholders would be affected in one way or another.
Prior to his appointment, the board concluded that the company’s adaptation be further intensified and that in order to work more extensively and move forward as a body, a new leadership was required.
Mr. Fagerlund served as CEO of the Spiffx betting exchange before he joined Global Gaming and a partner in online casino content provider, Relax Gaming. Despite joining Global Gaming. Fagerlund still remains a member of the board of the Spiffx betting exchange.
On his appointment as the President and CEO of Global Gaming, Mr. Fagerlund expressed his optimism as regards the judicial process faced by the company as he looked forward to positive outcomes by saying: “ 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 licences 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.”