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Stockholm-listed online gambling group Global Gaming AB seeks a new auditor, as incumbent KPMG sanctions an ‘early termination’ of its existing contract.
Yesterday, Global Gaming CEO Tobias Fagerlund issued a corporate statement, informing investors that KPMG account auditor Jonas Nihlberg had called for a termination of services.
An embattled Global Gaming finds itself at the centre of a Swedish market dispute, as this June its flagship Ninja Casino was suspended by gambling inspectorate Spelinspektionen for significant ‘care of duty deficiencies’ related to player protection, AML and social responsibility failures.
“Today’s message from our auditors at KPMG came as a surprise,” said Fagerlund. “Whilst we understand that the case against the Gambling Authority might raise questions and concerns, it is our conviction that the ongoing case will ultimately show that the Gambling Authority ‘s decision was incorrect and disproportionate. It is unfortunate that their decisions should have side effects of this kind.”
Global Gaming has previously communicated that it will contest the Spelinspektionen suspension of Ninja Casino, stating that – despite shortcomings – the online casino had been compliant with its Swedish license requirements.
However, seeking relief from its troubles, Global Gaming was served further bad news this month as an Administrative Court representing the Chamber of Commerce rejected the group’s appeal to ‘withdraw its suspension.’
Founded in 2009, Global Gaming AB has branded itself as an ‘online casino challenger brand’, promoting its Ninja Casino brand as a ‘No Registration’ and ‘Instant Cashout’ casino property.
In November 2017, Global Gaming floated on the Stockholm Nasdaq, as corporate governance aimed to secure a ‘deeper pool of professional investors’ to help the company develop its European and Nordic profiles.
