Paf buys Bell Casino to expand shipboard gaming portfolio
Together, Paf and Bell Casino will provide gaming entertainment onboard around 80 ships, operating around 1,500 gaming machines.
Finland.- Paf, the gaming operator owned by the autonomous government of the Åland Islands, has announced that it’s acquiring Bell Casino. The acquisition expands Paf’s presence in shipboard gaming to additional ferry routes and destinations across Europe.
Bell Casino was founded in Sweden 1973 by Morgan Eliasson and remained owned and managed by Eliasson and his son, Marcus Eliasson. It operates gaming on more than 50 ships operating routes between Sweden, Germany, Poland, the Baltic countries, the United Kingdom, Ireland and the Netherlands.
Today, Paf’s shipboard gaming operations cover 26 vessels, primarily operating in the Baltic Sea and North Sea regions. Through the acquisition of Bell, Paf broadens its operational reach to new routes, markets and destinations across Europe. Together, Paf and Bell will provide gaming entertainment onboard approximately 80 vessels, operating around 1,500 gaming machines and 450 arcade games.
“We are very pleased to bring this deal to a successful conclusion. The acquisition is strategically important for our Land & Ship business, as it gives us the right conditions to continue developing our operations over the long term,” said Christer Fahlstedt, CEO of Paf.
“Our combined business gives us scale advantages when investing in modernisation and new technology. Together with Bell’s business, we will have the right foundation to continue investing and growing in the years ahead,” added Lasse Danielsson, Chief Operating Officer, Land & Ship. “Bell complements Paf’s existing business both geographically and commercially. I look forward to the positive opportunities and synergies that our combined operations can create.”
Bell will continue operating with the same employees, customers, brand and business model. The company employs 28 people. Morgan will continue in the company as senior adviser, while Marcus will continue as CEO of Bell Casino AB.
“Naturally, there is a sense of nostalgia in handing over a company that I have helped build since the very beginning. At the same time, I feel both reassured and confident about the future when Bell is a part of the Paf Group. Paf is a company in our industry with a long-term perspective and both feet firmly on the ground,” Morgan said.
Paf results
Paf’s financial results show full-year revenue up 12 per cent year to a record €214.5m. Profits rose by 5.3 per cent to €57.2m. That’s despite the Åland-based operator’s focus on customer safety as it continues to lower its mandatory loss limits.
Meanwhile, the operator has applied for a licence to expand into Finland’s regulated online gambling market, which is expected to open in July 2027. Debate continues over whether Finland should sell Veikkaus, the state-controlled gambling operator, which currently has a monopoly over gambling in the country.
