The board of directors of Global Gaming has confirmed the appointment of Tobias Fagerlund as the president and CEO with immediate effect.

Coming in the midst of a tumultuous period for the Sweden-based gaming company, it cements the position that Fagerlund has held in an acting capacity since Monday 29 April of this year.

Peter Eidensjö, chairman of Global Gaming, said of the confirmation: “It is with pleasure and complete confidence that we confirm Tobias Fagerlund as President and CEO of Global Gaming. 

“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.”

Global Gaming recently confirmed its decision to appeal a licence revocation imposed by the Swedish regulator Spelinspektionen on one of the company’s Maltese subsidiaries SafeEnt.

Stressing that it had discovered “serious deficiencies” in the company’s operations, the decision, labelled “unexpected” by the firm, is currently in the appeal process.

Of his new role and the company’s current situation, Fagerlund added: “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.

“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.”