Enlabs proposes appointments for Global Gaming board

5 August 2020

Baltic-facing operator Enlabs has put forward a number of proposed individuals to be appointed to a new board of directors at Global Gaming, following its recent acquisition of a significant stake in the Ninja Casino operator.

In June, Enlabs agreed to purchase a further 11.3m shares in Global at a price of SEK8 per share, valuing the deal at around SEK90.4m (£7.9m/€8.8m/$10.4m).

The acquisition meant that Enlabs now holds a total of 12.2m shares in Global, becoming its largest shareholder with a 29.9% stake in the operator.

As such, Enlabs has now submitted proposals for a number of suggested appointments to the operator's board of directors.

Among these was Niklas Braathen, current chairman of the Enlabs board, with the recommendation that he also become chair of the new-look Global board.

Enlabs also proposed that Christian Rasmussen, who has run his own business in corporate finance since 2010 and participated in a series of transactions in the gaming industry, join Global’s board and serve as chairman of its remuneration committee.

Michael Niklasson, who has served as a lawyer since 1995 and also as an advisor to companies within the gambling sector since the 1990s, was also put forward, as was Jonas Bertilsson, chief executive of investment company Rugosa and the current chairman of board at Nordic eTrade AB.

In addition, Enlabs proposed Arne Reinemo, who only joined the Global board in May of this year, be reappointed to the new-board.

The proposals come as Global Gaming today (5 August) published its financial results for the first half of the year, during which it was able to reduce its losses, despite seeing revenue decline 55.9% year-on-year.