Increased profit for Paf during 2017

In 2017, the Åland-based gaming company Paf made an operating profit of €27.6 million and the total turnover reached €116.5 million. It is proposed that €18 million will be allocated to the Regional Government of Åland to be distributed to good causes within the Åland community.

- 2017 was a very strong year for Paf. Our net result nearly doubled during the year and we saw a steady growth in all markets. We are proud to have performed so well despite the sale our Italian subsidiary in February 2017. This shows that our strategy, that focuses on key markets and cost effectiveness, has already born fruit, says CEO Christer Fahlstedt.

The total turnover of the Paf Group increased from €113.5 to €116.5 million, and the operating profit grew from €15.2 in the preceding year to €27.6 million. It is proposed that €18 million will be allocated to the Regional Government of Åland to be distributed to good causes.

The GGR for online operations increased from €81.9 to €84.5 million. The GGR for physical gaming operations on land and aboard ships increased from €31.5 to €31.9 million. The numbers for onboard operations were affected positively by the new collaboration with the Norwegian shipping company Color Line as well as by new technology introduced aboard several ferries.

- We are extra proud of our good result in 2017 because we have invested heavily in responsible gaming measures at the same time. During 2017, we have made many concrete improvements in order to better support responsible gaming. For example, we follow up our customers’ gaming patterns, and based on this we contacted a significantly higher number of customers than before in order to prevent problem gaming.

Paf’s annual report can be found in digital form at:

https://www.paf.com/press-room

Other events at Paf during 2017:

  • In January 2017, Paf received the award for Most Responsible Gaming Operator at the EGR Nordic Awards in Malta.

  • In February, Paf started gaming  operations on board six Color Line passenger ferries that operate in the North Sea.

  • In early 2018, Paf was nominated as one of the 40 most inspiring working places in Finland. The nomination was based on the employee survey results from around 400,000 employees working within companies in Finland. The survey is carried out annually by HR intelligence company Corporate Spirit.

For more information please contact:

Aino Waller
Head of Media Relations, Paf
aino.waller@paf.com
+358 (0)40 756 9608

Anders Sims
Chief Communications Officer, Paf
Anders.sims@paf.com
+358 (0)457 342 8228

About Us

Paf (Ålands Penningautomatförening) was founded on Åland in 1966 to generate profit for the benefit of society. Paf was one of the very first gaming companies to go online in 1999. Paf.com offers slots, casino games, poker, betting, bingo, lotteries and fantasy sports. Many of our games are exclusive to Paf and developed by our in-house Games Studio. Paf is an award-winning industry leader in responsible gaming. In 2018 we became the first international gaming company to introduce an annual yearly limit that applies to every customer. In 2017, the Paf Group had a total revenue of 116.5 million euros and a profit of 27.6 million euros. The Paf Group has roughly 400 employees from 34 countries, and our offices are located on Åland, in Helsinki, Stockholm, Riga, Tallinn and Madrid. Paf (Ålands Penningautomatförening) is licensed and controlled by the Regional Government of Åland. More information at aboutpaf.com

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