Global Gaming auditor KPMG moves to terminate assignment
Global Gaming is seeking a new auditor after KPMG requested an early termination of its assignment with the Ninja Casino operator.
The operator’s chief executive Tobias Fagerlund said the request came as a surprise, noting that the auditing work carried out in the year to date had not given rise to any issues.
Fagerlund noted that Swedish regulator Spelinspektionen’s decision to revoke its operating licence in the country would have raised “questions and concerns”, but added that he believed the operator would ultimately prevail in its appeal against the decision.
“[It] is our conviction that the ongoing case will ultimately show that the Gambling Authority ‘s decision was incorrect and disproportionate,” he said. “It is unfortunate that their decisions should have side effects of this kind.”
The operator will now begin the process of finding a new auditor, calling an extraordinary general meeting with a view to selecting a company as soon as possible.
Global Gaming was stripped of its Swedish licence after the regulator identified serious failings in its player protection and anti-money laundering controls. The operator contends that it had worked to address these shortcomings, and as such the punishment was unjustifiably strict.
However it failed in a bid to have the revocation suspended until an appeal could be heard. The Administrative Court of Linköping rejected its assertions that its failings had not placed players’ health at risk and that there was no risk of its sites being used to launder money. The court will now proceed to hear the appeal, though has given no indication as to when the process will be completed.