A worldwide gaming firm’s permit in Sweden has been rescinded, and the ruling is now legally enforceable. While the firm was granted the opportunity to file a fresh appeal in the Administrative Court of Växjö in January, its appeal against the decision was dismissed in October. Following a takeover bid by Enlabs, and Enlabs’ subsequent acquisition of 95.8% of Global, the company’s reorganized board decided to forgo further challenges to the ruling. The firm explained that it “inherited” the legal case from the previous leadership and therefore lacked sufficient justification to withdraw the challenge. The Swedish gaming regulator Spelinspektionen revoked the Swedish operating license of Global’s subsidiary SafeEnt last June, as Spelinspektionen discovered significant shortcomings in the company’s responsible gambling and anti-money laundering procedures. Global subsequently contested the decision in Swedish courts, but its efforts ultimately proved unsuccessful.
Moreover, the firm underscored that they have dedicated considerable resources to making regulatory adherence a top priority and improving standards throughout all operational departments.
The company’s stock will be removed from the Nasdaq First North stock market after the takeover by Enlabs.
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