Paf reports record full-year revenue
The Nordic gambling operator has reported record revenue despite its focus on social responsibility.
Finland.- Paf, the gambling operator belonging to the regional government of the Åland Islands, has reported record revenue of €165.6m for 2022. Revenue was up 22.7 per cent year-on-year and profit rose 30.4 per cent to €44.8m.
Paf also reported that it delivered €14.9m in good causes funding. That included €3.8m for social activities and €3.1m for cultural activities. The operator has delivered more than €400m to good causes since it started the initiative in the 1960s.
Paf CEO Christer Fahlstedt said: “The turbulence of recent years has taught us to adapt and we are happy and proud to say that 2022 was the best year in Paf’s 56-year history.”
He noted that this was despite Paf lowering its loss limit for players aged between 18 and 24. It plans to further revise its loss limits in the summer
“During the year, Paf has chosen to introduce a new, lower limit for younger players. Players aged 18-24 can now lose a maximum of €10,000 in a calendar year. Research shows that younger players are overrepresented among problem gamblers and we have therefore chosen to introduce a tighter limit in this age segment.”
Paf recently completed its acquisition of 888’s assets in Latvia. It bought the sites MrGreen.lv and WilliamHill.lv that 888 acquired in its purchase of William Hill from Caesars last year. Paf says it will keep the brand names and that customers will see no immediate changes. Paf has been present in Latvia since 2018, and this acquisition will make it the Baltic nation’s third-biggest online gambling operator.
