Connect with us
paf’s-annual-report-for-2022 paf’s-annual-report-for-2022

Latest News

Paf’s annual report for 2022

Published

2 years ago

on

Reading Time: 2 minutes

 

A successful year makes big dividends of Paf funds possible, with both revenue and profit increasing. The Nordic gaming company Paf continues to invest in responsible gaming measures and the newly published figures for Paf’s customer segments show that the investments are having an effect.

The Nordic gaming company Paf has had a good year, the international successes continue and the Land & Ships business has recovered a great deal after the pandemic. The group turnover for 2022 increased from EUR 135 million to EUR 165.7 million, which is an increase of 23% and a new turnover record.

“We are pleased with last year, it is a good result and a testament to our ability to deliver. We are doing much better in Sweden, Switzerland and Spain. In addition, our ship operations have largely recovered,” says Paf’s CEO Christer Fahlstedt.

Paf’s profit increased from EUR 34.3 million to EUR 44.4 million, with around EUR 8 million of the positive result being due to a temporary reduction in lottery tax in Finland. The result paves the way for a larger distribution of Paf funds.

“Paf’s purpose is to generate funds for the benefit of society and with the strong result we can distribute EUR 33.1 million. From the Board’s point of view, we are really pleased with how the employees have managed to perform and develop the company over the past year,” says Chairman of the Board Jan-Mikael von Schantz.

Since its foundation in 1966, Paf has donated over €400 million to societal benefits, totalling €416 million.

Major investments in responsible gaming

In autumn 2022, Paf chose to lower the mandatory loss limit for young players aged 18-24. In the spring of 2023, Paf chose to invest heavily in responsible gaming again, when it lowered the loss limit for all customers to EUR 17,500 per year. In addition, Paf introduced a specific loss limit for young players aged 18-19, 1800 euros per year.

“We estimate that our measures cost about €7 million in total. For Paf as a company, this is a significant sum, but it is the right thing to do. We should provide entertainment in a sustainable way,” says Christer Fahlstedt.

The loss limits have put an end to the revenues from the most intensive playing customers.

Verified published customer segments

We believe in openness and that in the long run it makes Paf a more trustworthy gaming company. Paf started openly publishing figures for customer losses and winnings already five years ago, in 2019. In this year’s numbers with Paf’s customer segments, the figures for the Swedish Speedy companies are included in the 2022 column.

“We have increased the more sustainable green revenues by 22% from 2021 to 2022, which is a big step in the right direction. The other segments have also increased, which can mostly be explained by our recent acquisition of the Speedy companies in the Swedish market,” says Christer Fahlstedt.

The figures for Paf’s customer segments have been reviewed and verified by an external accounting firm in connection with the review of Paf’s annual report.

Related Topics:
Continue Reading
Advertisement
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Latest News

DreamPlay consolidates its status as a global player in the iGaming industry and opens an office and campus in Cyprus

Published

17 hours ago

on

April 4, 2025

By

dreamplay-consolidates-its-status-as-a-global-player-in-the-igaming-industry-and-opens-an-office-and-campus-in-cyprus
Reading Time: 2 minutes

DreamPlay’s ambitions go far beyond simple game development. With a new office in Limassol, the international iGaming solutions provider is expanding its presence in Europe and laying the foundations for a new philosophy of the iGaming business.

The location in Limassol was not chosen by chance – Cyprus has long become the European center of iGaming. It is here that key market players, large operators and financial structures supporting the industry are concentrated. And the high concentration of technology and talented developers allows DreamPlay to form its own ecosystem of talent.

If in the 2010s Cyprus became a hub for classic iGaming operators, today it is a point of attraction for technology companies that are betting on metaverses and the integration of games into a wider digital ecosystem. DreamPlay is one of those shaping this trend.

Google-style campus for game development talents

The DreamPlay office and campus in Limassol are part of the company’s international network of corporate campuses. Similar hubs already operate in Thailand, Bali, Peru, the UAE and Poland. They offer employees comfortable working conditions and the ability to move between locations, accommodation, meals, legal support for stays in different countries. And all this is at the expense of the company. -And the flexible work format and 4-day work week in the company helps DreamPlay talents maintain a healthy work-life balance. It’s all about well-established business processes and taking care of the team.

It’s nice to know that you can come to the country, and there is a Dream Campus where friends, like-minded people and someone who can simply take care of you are waiting for you. They will meet you at the airport, give you a tour, accompany you on medical or legal issues. It’s all part of the team.

“iGaming is an industry of emotions. Therefore, the people who create it should work where they feel best. Therefore, in our campuses we create an environment where the team can feel maximum freedom for creativity, focus on creating new breakthrough products. And not be distracted by everyday issues. And we are sure that this gives us a strategic advantage, because we are sure that our employees have received better conditions than their colleagues in other companies. Comfort, flexibility and freedom are part of our global philosophy of DreamPlay,” shares DreamPlay CEO Alex Tkach.

 

What does this mean for the market?

Opening a DreamPlay office in Cyprus is a wise decision, as the company is preparing to enter new markets and partner with the largest iGaming players. It is also a signal to the entire market that the company is moving into the league of global players who dictate trends, rather than following them.

If today Cyprus is another platform for international expansion, then tomorrow DreamPlay may turn into one of the first technology companies in iGaming, operating on the principle of large IT holdings.

And this is where the main intrigue lies: will DreamPlay become the one who fundamentally rethinks the very nature of the industry?

The post DreamPlay consolidates its status as a global player in the iGaming industry and opens an office and campus in Cyprus appeared first on European Gaming Industry News.

Continue Reading

International Game Technology PLC

IGT Wheel of Fortune Video Poker Makes Global Debut at Downtown Grand Hotel & Casino in Las Vegas

Published

21 hours ago

on

April 4, 2025

By

igt-wheel-of-fortune-video-poker-makes-global-debut-at-downtown-grand-hotel-&-casino-in-las-vegas

 

International Game Technology PLC announced that it recently introduced its much-anticipated Wheel of Fortune Video Poker game in the world’s most prolific video poker market: Las Vegas, Nev. Guests of Downtown Grand Hotel & Casino (Downtown Grand) in Downtown Las Vegas became the first players in the world to enjoy legendary IGT multi-hand video poker paired with the puzzle-solving, wheel-spinning fun of Wheel of Fortune via IGT’s Wheel of Fortune Video Poker game.

“Becoming the first casino in the world to offer IGT’s Wheel of Fortune Video Poker was an exciting moment for Downtown Grand and one that generated palpable buzz and significant play on our gaming floor. For decades, our players have enjoyed IGT video poker and Wheel of Fortune slots, so combining the DNA of those two products to create something new is an exciting proposition for our players,” said Rick Coltor, Slots Manager at the Downtown Grand Las Vegas.

“Launching IGT Wheel of Fortune Video Poker in Las Vegas, the world’s largest video poker market, marked another important milestone in the rollout of our expanded Wheel of Fortune games portfolio. Our Wheel of Fortune Video Poker game delivers an ideal blend of proven multi-hand poker, jackpot excitement and the signature elements of Wheel of Fortune games that have propelled the theme’s success for more than 25 years,” said Nick Khin, IGT President, Global Gaming.

IGT’s Wheel of Fortune Video Poker is currently available on the CrystalCurve cabinet. Wheel of Fortune Video Poker incorporates the franchise’s famous puzzle-solving features and the iconic “Wheel Bonus” that has had players chanting “WHEEL-OF-FORTUNE!” for decades. The multi-hand poker game is available in triple-play, five-play and ten-play configurations and can award players 30,000, 50,000 or 100,000 credits, respectively, for a dealt royal flush.

The post IGT Wheel of Fortune Video Poker Makes Global Debut at Downtown Grand Hotel & Casino in Las Vegas appeared first on Gaming and Gambling Industry in the Americas.

Continue Reading

Frank Arthofer

MLB Players Sign Licensing Agreement with PENN Entertainment

Published

21 hours ago

on

April 4, 2025

By

mlb-players-sign-licensing-agreement-with-penn-entertainment

 

MLB Players Inc., a commercial affiliate of the Major League Baseball Players Association, and OneTeam Partners announced they’ve reached a licensing agreement with PENN Entertainment.

The agreement designates PENN’s sports betting platforms – ESPN BET in the U.S. and theScore BET in Canada – as Officially Licensed Sportsbooks of MLBPI.

PENN now has the rights to use MLB player names, images and likenesses on its sports betting platforms, marketing assets and promotional campaigns.

The deal also includes PENN’s retail sportsbook operations (32 retail sportsbooks at its casino properties, including 19 under the ESPN BET brand).

Last fall, FanDuel and MLBPI reached a similar licensing agreement after the MLB players’ union sued FanDuel and Underdog Fantasy in New York Supreme Court, accusing them of using the names and likeness of ballplayers on their players without permission.

”As baseball season gets underway, we’re excited to offer fans an enhanced betting experience that includes player likenesses, expanded wagering options and a more dynamic product. Partnering with MLB Players Inc. strengthens our connection to the league and its star players and creates additional opportunities to engage fans throughout the season,” said Jason Birney, Vice President of Operations at PENN Interactive.

OneTeam Partners specializes in commercializing group licensing rights for professional athlates, and is a joint venture between the NFL Players Association, MLB Players Association, Women’s National Basketball Players Association, MLS Players Association, and U.S. Women’s National Team Players Association.

“By integrating MLB player rights into PENN Entertainment’s platforms, this partnership brings fans closer to the game while unlocking new business opportunities in sports betting. It highlights the growing influence of players in shaping premium, fan-focused betting experiences while enhancing player NIL rights and widening distribution,” said Frank Arthofer, President of OneTeam Partners.

The post MLB Players Sign Licensing Agreement with PENN Entertainment appeared first on Gaming and Gambling Industry in the Americas.

Continue Reading

Trending