Fagerlund became Acting CEO on 29 April, replacing Joacim Möller as the company sought new leadership while undergoing significant change, and has vowed to fight the Swedish regulator’s recent decision to revoke its license.

In its trading update for 2018, Global Gaming announced a new action plan to balance the firm’s costs and Fagerlund, a board member since 2016, has been deemed the man to carry that process on long term.

Global Gaming is currently appealing the decision to have its Swedish license revoked.

Fagerlund said: "I would have naturally preferred to be appointed under different circumstances, but I have no reservations in accepting.

"I have a great deal of faith in Global Gaming and stand by what I have said in recent weeks: the regulator’s decision to revoke our licenses is incorrect and disproportionate.

"We are confident we are compliant with the requirements of the Swedish legislation, and I have faith in the judicial process and look forward to its outcome."