Aspire Global Comments on KO’s (The Swedish Consumer Agency) Intention to File a Lawsuit Against Karamba
Over a press release on October 1, 2019, Aspire Global has been notified of The Consumer Agency's (Konsumentombudsmannen or “KO”) intention to file a lawsuit against Aspire Global for violating the marketing provisions of the Gaming Act and the Marketing Act. The company has not yet been sued but has only taken part in the authority's press release.
The Swedish Consumer Agency intends to file a lawsuit against Karamba for their advertisements, which KO claims are violating the Gambling act, specifically when it comes to moderation and use of bonuses and free spins as a marketing tool. The main purpose of KO's action is to bring about case law in form of precedence from the Patent- and market court, in order to get a definition of how the requirement for moderate marketing should be interpreted in relation to bonus offers that exist in the gaming market.
“We dispute that the bonus offerings contravene the requirements of moderate marketing in the Gaming Act and we are critical to having been chosen as the subject to KO’s enforcement in this manner. If the court issues a lawsuit, Aspire Global will object to KO's interpretation of the law”, says Tsachi Maimon, CEO of Aspire Global.
For more information, please contact:
Tsachi Maimon, CEO, Tel: +356-79777898 or email: tsachi@aspireglobal.com
Motti Gil, CFO, Tel: +356-9924 0646 or email: mottigi@aspireglobal.com
About this information
This is information that Aspire Global is obliged to make public pursuant to the EU Market Abuse Regulation (MAR). The information was submitted for publication by the contact person above at 16:30 pm (CEST) on October 1st 2019.
About Aspire Global
Founded in 2005, Aspire Global offers a comprehensive iGaming solution for operators and white labels, including a complete suite of services for casino and sportsbook, multilingual CRM, payments and risk control, support call center, VIP management, acquisition optimization and a robust, market-leading platform. Aspire Global also holds licenses in regulated markets including Denmark, Ireland, Malta, Portugal, Sweden and the UK. Aspire Global is listed on NASDAQ First North Premier under ASPIRE. Certified Advisor: FNCA Sweden AB, info@fnca.se, +46-8-528 00 399. Please visit www.aspireglobal.com.