Paf acquires Speedy from Hero Gaming

Paf has bought the Sweden-facing brands Speedy and Speedy Originals, making it one of the six largest operators in the Swedish gaming market.

Sweden.- Paf has bought Speedy and Speedy Originals, two no-registration gambling brands catering to the Swedish market, from Hero Gaming.

The operator will implement its global €20,000 per year loss limit on the brands’ Speedy Casino, Speedybet and Speedyspel sites but will maintain their existing branding.

Paf chief executive Christer Fahlstedt said: “We do not have an interest in taking over the gaming sites unless their customers are largely at a gaming level that we accept.

“Customers will notice that we value responsible gaming very strongly, and expect any acquisitions to have the same level of responsible gaming that we have on Paf’s other gaming sites.”

Paf, which is based in the autonomous Finnish territory of the Åland Islands, between Sweden and Finland, said it had deliberately pursued the deal in order to reach the milestone of becoming one of the six largest operators on the Swedish market.

Fahlstedt said: “We want to grow in Sweden and we have a determined ambition to be a leading player in the Swedish licensed market.”

In May, Paf reported a decline in revenue of 1.1 per cent to €113m for the 12 months ending December 2020. 

Results were impacted by a steep decline in land-based revenue due to the Covid-19 pandemic. The growth in online revenue was held back by Paf’s decision to reduce its loss limits for online gaming.

Last October, Paf’s Mandalorian Technologies won its appeal against a shortening of its licence term for breaching bonus regulations.

Founded in 2013, Hero Gaming continues to operate the Casino Heroes brand and Boom Gaming, which launched in 2019.