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NEWS 20 February 2020

Global Gaming looks towards “brighter future” as FY revenue falls 55%

By Owain Flanders

Global Gaming revenue was SEK 412.1m ($42m) for the full year 2019, a decrease of 55% year-on-year.

Operating loss was SEK 118.7m, a fall in profit of 180%, while cash flow from operations for the year amounted to a loss of SEK 129m, also a fall of 180%.

The online casino operator’s Q4 results followed the downward trend of previous quarters, with revenue of SEK 57.5m, a drop of 76% from the previous year.

Operating loss was SEK 26.6m for the quarter, down 248%.

Last year, the Swedish Gambling Authority (SGA) revoked Global Gaming subsidiary SafeEnt’s license, halting the operator’s activities in Sweden.

Since then, Global Gaming’s appeal against the decision has been rejected by the Administrative Court and the SGA has rejected a request to add the operator’s brand ninjacasino.se onto Viral Interactive Limited’s license.

Despite last year’s setbacks, the operator insists it is looking towards a "brighter future" in 2020.

Tobias Fagerlund, Global Gaming CEO, said: "There is a good bit left for us before we have recovered from the 2019 setbacks and certainly there is much that can go against us.

"My most important message now, given the difficult starting position, is that there is a lot that is going well.

"We firmly believe the processes we control ourselves will go according to plan and we firmly believe that when we sum up 2020 in a year, it is something quite different from the year we have now left behind."

RELATED TAGS: Online | Financial | Industry
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