Paf prepares for expected Finnish gambling liberalisation with Kimi Räikkönen deal
The Åland Islands-owned gambling operator is stepping up its presence on home turf.
Finland.- The Finnish Gambling Act has yet to received parliamentary approval, but Paf clearly expects it to receive a smooth passage. It’s signed up the Finnish Formula 1 star Kimi Räikkönen as a brand ambassador to ensure a strong presence in the upcoming regulated market, which the government hopes to see go live by 2027.
Finland currently has a monopoly market, with state-owned Veikkaus the only legal gambling operator. Paf is owned by the nearby autonomous Åland Islands and provides gambling offerings online in Sweden, Estonia, Latvia and Spain, on cruise ships in the Baltic Sea and North Sea and via physical slot machines on Åland.
As a Scandinavian operator, Paf already has a cultural and linguistic advantage when Finland opens its gambling market to competition. It will be hoping the high-profile deal with Räikkönen will give it a head start breaking into the market.
Räikkönen was F1 world champion in his first year with Ferrari in 2007. The deal is dependent on Paf first gaining a licence under the future regulatory framework for gambling in Finland.
Paf manager Thomas Näsman said: “We’re proud to welcome Kimi to the Paf team. He’s a true Finnish icon, and we value his honesty and no-nonsense approach – qualities that perfectly align with our brand.
“Paf is committed to being the world’s most responsible gaming company while continuing to contribute to the public good. As Finland transitions to a licensed market, we’re thrilled to have Kimi join us on this journey.”
Räikkönen suggested that Paf’s public interest approach (its profits are distributed to public interest initiatives) influenced his decision to sign on.
He said: “To be honest, we received inquiries from a few gaming companies that didn’t spark our interest, but Paf’s approach did Paf’s history, transparency, responsibility, and strong Finnish identity were key factors in my decision—not to mention the straightforward, determined, and efficient approach of the people behind the agreement.
“With new opportunities arising for Paf in mainland Finland, I hope our partnership proves beneficial for the company.”
Meanwhile, Veikkaus itself has begun preparing for market liberalisation, launching a live casino offering at the end of last year. The company is to be split, with one part to maintain a monopoly over lottery and land-based sports betting and the other to compete on the regulated online market.
Sweden’s horse racing betting operator has also made a move on the upcoming Finnish gambling market, establishing a joint venture with the Finnish Trotting Association, Suomen Hippos.
