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Sweden’s Administrative Court docket rejects World Gaming 555’s enchantment









 

Sweden’s Administrative Court docket rejects World Gaming 555’s enchantment


19 October 2020




(PRESS RELEASE) — The Swedish Gaming Inspectorate selected 17 June 2019 to revoke World Gaming 555 AB’s subsidiary SafeEnt Ltd’s license to supply betting and business on-line gaming in Sweden. The Swedish Gaming Inspectorate’s choice was appealed to the Administrative Court docket, which rejected the enchantment, a choice which was additionally appealed by SafeEnt Ltd to the Administrative Court docket of Attraction, which has as we speak introduced a choice to uphold the Administrative Court docket’s judgment.

The Board of World Gaming has determined to not enchantment the choice of the Court docket of Attraction.

Remark from the board of World Gaming;

“This has been a course of that the corporate’s present newly appointed board inherited.

The Board has taken observe of as we speak’s ruling, and totally shares the views expressed by each the Administrative Court docket of Attraction and the earlier court docket and thus additionally the Swedish Gaming Inspectorate within the case.

The Board want to level out that they took workplace just a few weeks earlier than the listening to within the Court docket of Attraction, and within the then and nonetheless ongoing bidding course of that World Gaming is present process, measures that may be interpreted are of such a nature that they might undermine the worth of the shares. On this case, corporations beneath acquisition, not appropriate or could also be prohibited.
Because of this, there was no affordable alternative for the board to cease the continuing case even earlier than the listening to within the Court docket of Attraction.

General, the Board welcomes the truth that they’ve now been introduced, and a consequence of that is that clear and distinct situations for World Gaming’s future operations now additionally exist.
The Board is of the opinion that in depth work has been occurring inside World Gaming for a very long time with the purpose of being an organization with the very best concentrate on regulatory compliance in all elements, and the Board is of the opinion that World Gaming as we speak has a really excessive degree of high quality in all areas. regarding this.

Because the summer time of 2019, the corporate has made changes to its operations because of the Swedish Gaming Inspectorate’s choice, which is why the Court docket of Attraction’s choice as we speak has no affect on World Gaming’s present or deliberate operations.”

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