Paf - Copyright: oxygen64 / 123RF Stock Photo

Profitable Paf provides €18 million to the Åland community

Paf has made a significant contribution to the Åland community after allocating €18 million of its 2017 revenues to the Finnish province’s regional government.

The gaming company’s annual turnover reached €116.5 million for the full-year, up 2.6% year on year (YOY) from €113.5 million in the corresponding 2016 period.

This increased turnover led to the firm posting an operating profit of €27.6m, a rise of more than 80% on the €15.2m recorded in 2016.

Paf CEO Christer Fahlstedt said: “2017 was a very strong year for Paf. Our net result nearly doubled during the year and we saw a steady growth in all markets.

“We are proud to have performed so well despite the sale our Italian subsidiary in February 2017. This shows that our strategy, which focuses on key markets and cost effectiveness, has already born fruit.”

The gross gaming revenue for online operations rose from €81.9m to €84.5m, while GGR for physical gaming, on land and aboard ships, increased from €31.5m to €31.9m.

“We are extra proud of our good result in 2017 because we have invested heavily in responsible gaming measures at the same time,” continued Fahlstedt. “During 2017, we have made many concrete improvements in order to better support responsible gaming.

“For example, we follow up our customers’ gaming patterns, and based on this we contacted a significantly higher number of customers than before in order to prevent problem gaming.”

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