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(PRESS RELEASE) — Global Gaming 555 AB’s subsidiary SafeEnt Ltd, which operates the internet casino Ninja Casino, lost its Swedish license for commercial online gambling and betting on Monday, 17 June.

The appeal was sent to the Administrative Court the same afternoon, as both the company and its legal counsel are of the opinion that the decision lacks support in the Gambling Act and the Company is confident that all demands to hold a license are complied with.

During the afternoon, the Company has received a ruling from the Administrative Court, which denies the appeal of the Swedish Gambling Authority’s decision to revoke the licenses. The Company will appeal the Administrative Court’s decision to the Administrative Court of Appeal.

“We are of course disappointed by the Administrative Court’s decision and have appealed this. Our considered position to the principle claim is clear and that the Gambling Authority decision to revoke our licenses is incorrect. We look forward to the judicial testing of their decision,” says Tobias Fagerlund, acting CEO at Global Gaming 555 AB. He continues, “Our business, our 170 employees and approximately 6,000 shareholders are suffering every minute business cannot be conducted and it is our opinion that, in order to ensure a fair hearing of the case and to limit the continuing damage to us, we shall be able to conduct our business activities until the judicial review is completed. The Swedish Gambling Authority’s reasoning in that part is incorrect and it is my hope that the Administrative Court of Appeal will now come to a different decision of that of the Administrative Court. “

Source: Online.CasinoCity.com


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