“Dark times” for Global Gaming as Q3 revenue falls 76%

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Global Gaming’s Q3 revenue fell a staggering 76% year-on-year to SEK 60.3m ($6.3m).

Operating profit for the Swedish company also dropped from SEK 60.3m to a loss of SEK 37.6m.

For the year-to-date, Global Gaming fared a little better in terms of revenue, with numbers only roughly halving to SEK 354.6m.

But the operator made a year-to-date operating loss of SEK 92.1m, compared to profit of SEK 130.6m for the corresponding period.

Global Gaming’s results were, of course, hit by the revocation of its Swedish license and, during Q3, its appeal against the decision was rejected.

After the period, the Administrative Course also rejected the appeal.

CEO Tobias Fagerlund, appointed in July, said: “Saying it was dark times would be a gross understatement.

“The regulator’s eagerness to show decisiveness, instead of offering guidance and support in how the new regulations should be interpreted, has led to the present situation.

“Fundamentally, I am very positive about the Swedish re-regulation but, like many others, am of the opinion the so-called channelisation does not work satisfactorily.

“The number of operators who attract Swedish players with unauthorised methods and offers is increasing, while the Swedish Gambling Authority insists on focusing on those who have applied for and obtained a license to comply with and adapt to the new legislation.”

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