Global Gaming, the parent company of Ninja Casino, has had their operating license in Sweden revoked. The company bid to be able to remain in operation in the country while they appealed the decision but that has been denied.
No Operation:
The Administrative Court of Link?ping denied the bid by Global Gaming subsidiary, SafeEnt Ltd., to remain in operation online in Sweden while appealing their license loss. The regulatory body of Sweden, Spelinspektionen, revoked the license of SafeEnt earlier this week after finding the company was not adhering to anti-money laundering practices. The company was also found in violation of social responsibility regulations.
Global was hoping that the appeal would allow them to continue to offer sports betting and online casino gaming in Sweden with the pending appeal. The court did recognize that the license suspension was an invasive one but stated that the company could only offer services in Sweden if acceptable protection for excessive gambling as well as anti-money laundering measures were correctly in place.
The court decided to stay the revocation of the license because they could not say with great extend that the appeal by SafeEnt Ltd. would be approved.
According to CalvinAyre…
Tobias Fagerlund, the acting CEO of Global, commented on the decision by stating that the company was disappointed by the ruling. The company now has plans to meet with the Administrative Court of Appeal on the matter. According to Fagerlund, the decision to revoke the license and then not allow the company to operate during the appeal was an incorrect one.
The acting CEO stated further that the company, its employees and shareholders are suffering every minute that the business is not operational. He feels it is only fair to allow the online gaming operations to continue during the process of appeal to limit damage to those affected.