Latest News
Paf’s results for 2023
The Nordic gaming company Paf’s annual report for 2023 shows that it has been a good year which means a good sum of Paf funds for society. Paf’s published customer segments show more sustainable revenue in the past year. The Paf board gets a new member.
The Paf Group’s revenue for 2023 increased from €165.7 million to €177.1 million, an increase of 7%. The growth in revenue results in an increase in profit from €44.8 million to €55.1 million, which is a record for Paf.
“We can be happy and proud with the past year. We have gained a larger customer base and the number of active customers has increased by 27%, which explains some of it, but we are also well aware that the temporarily low gaming taxes in Finland have helped the result,” says Christer Fahlstedt, CEO.
Paf’s result is the best result in Paf’s 57-year history and an increase of 23% compared to the previous year. However, gaming taxes in a number of countries will be increased in 2024, which will create different conditions going forward. In Finland, the temporary reduction of the lottery tax has increased from 5% to 12%, in Sweden the gambling tax will increase from 18% to 22%, in Estonia from 5% to 6% and in Latvia from 10% to 12%.
“The trend of increasing gaming taxes will continue, and we expect to see more much-needed demands for increased responsible gaming measures. The changes will result in reduced profitability and many operators will find it more difficult. But Paf is well prepared for the times ahead,” says Christer Fahlstedt.
31.4 million euros in Paf funds
The annual distribution of Paf funds will be €31.4 million. Paf funds are used for the benefit of society, including a number of third sector organisations that work to promote society in social activities, culture, youth work, sports, environmental activities and more.
“It’s undeniably great that Paf is achieving a great result, allowing us to distribute a total of €31.4 million in the form of Paf funds. The employees have done a phenomenal job over the past year, and the Board would like to thank all Paf employees who have made this possible,” says Jan-Mikael von Schantz, Chairman of the Paf Board.
Sustainable entertainment
In 2023, Paf chose to invest heavily in responsible gaming, and the loss limit for all customers was lowered to EUR 17,500 per year. In addition, in spring 2023, Paf introduced a specific loss limit for young players aged 18–19, €1,800 per year. In spring 2024, Paf chose to lower the loss limit for young people aged 20–24. Young people of that age already had a lower loss limit at Paf but it was further reduced from €10,000 to €8,000 per year.
“This is an important continuation of the direction we are striving to take at Paf for our responsible gaming. Now young customers can only gamble with us for sums that are at more sustainable levels and within the framework of the customer segment we have defined ourselves as the green segment,” says Christer Fahlstedt.
Paf’s customer segments 2017–2023
The published table shows the development of gaming in different customer segments from 2017 until 2023. The red segment for customers who have lost more than €30,000 in one year is at zero in recent years, as Paf’s loss limits stop large losses. The white segment shows the number of players who ended the year in profit.
“It is encouraging to see that we have once again increased the green revenues with more sustainable revenues by a full 7.6%. It is possible to change an outdated business model in the industry and we will continue our strive to be a gaming company that provides sustainable entertainment in everyday life,” says Christer Fahlstedt.
The figures for Paf’s customer segments have been reviewed by auditors as part of the audit of the financial statements.
“Our published and open customer segments show what our investments in responsible gaming measures have achieved over the years. The publication gives credibility to our efforts at a level that no other gaming company has been able to show,” says Christer Fahlstedt.
Daniela Forsgård new on the board
Paf gets a new board member when Daniela Forsgård takes a seat on the board. At the same time, Birgitta Eriksson is stepping down after many years on Paf’s board.
“I really want to thank Birgitta for the solid contribution she has made to Paf’s Board over the years.”
“Daniela Forsgård’s merit-based knowledge of finance, combined with the international experience she possesses, will fit in well with the Board. In addition, Daniela has personal experience of Paf as she previously worked at Paf,” says Jan-Mikael von Schantz.
The Paf Board now consists of Chairman Jan-Mikael von Schantz, Board members Gunnar Westerlund, Denise Johansson, Roger Nordlund and Daniela Forsgård.
Latest News
7-Eleven selects Jackpot.com as their official lottery partner
Online Lottery Courier Service Jackpot.com Announces Exclusive Collaboration with 7-Eleven, Inc.
Jackpot.com will serve as the official lottery courier service of 7-Eleven, Inc., initially launching in Ohio and Massachusetts
Jackpot.com – the online lottery courier service that allows consumers to purchase official state lottery tickets on their phone, tablet, or computer – announced today an exclusive collaboration with 7-Eleven Inc., the largest convenience store chain in the world, to serve as their official lottery courier service.
As part of the collaboration, 7-Eleven customers in Ohio and Massachusetts will be able to sign up and play lottery games and scratchers on the Jackpot.com app or website. The program will initially be launched in over 600 7-Eleven and Speedway stores in Ohio and Massachusetts, with a special launch promotion that gives 7-Eleven customers a free lottery ticket on their first deposit by using promo code, “7Eleven”.
“We’re thrilled to work with 7-Eleven, the leading retailer of lottery tickets in the country,” said Akshay Khanna, CEO and co-founder of Jackpot.com. “Leveraging our technology and innovation, we can provide additional convenience for their customers, while adding an additional source of revenue. A true win-win relationship for all.”
By launching in Ohio and Massachusetts in 2023 and 2024, respectively, Jackpot.com aims at adding another avenue for player convenience with one of the most widely recognized brands in the convenience-retailing space. With a presence in Ohio, the nation’s seventh-largest lottery market, and Massachusetts, whose state lottery produced $1.2 billion in net profit for the Commonwealth during the 2024 fiscal year, Jackpot.com’s collaboration with 7-Eleven represents an added layer of accessibility for players.
Jackpot.com remains committed to responsible play and has significantly invested in protocols by allowing customers of legal age to set spend limits and limits on daily deposits, all while providing access to local and national responsible gambling resources, self-exclusion, self-suspension and automated notifications that offer help should problematic behavior be detected. Jackpot.com is also the only lottery courier service to launch with an iCap certification from the National Council on Problem Gambling.
To learn more, visit jackpot.com. First-time users can also download the official Jackpot.com Lottery App on the iOS or Android App Stores, where available.
eSports
The World Esports Summit 2024 Is Here!
The IESF World Esports Summit returns this December to Busan, South Korea. Hosted at the Busan Esports Arena (BRENA) from December 5-6, the Summit will bring together prominent figures from Esports, global brands, government officials, and sports executives for a deep dive into the current Esports trends, its rapid transformations, and future challenges.
This year’s theme, “Building Bridges, Not Barriers, Through the Power of Esports,” will highlight the role of Esports in uniting cultures, ideas, and industries. Under the slogan “We Empower Success,” the
Summit provides a great platform for Esports experts to engage in meaningful discussions and sessions, sharing their insights on trends and presenting forward-looking ideas for our industry.
The event, strategically timed at the close of the competitive season, presents a perfect environment for reflection on the year’s biggest events, industry shifts, and the next steps for Esports. Attendees can follow the expert’s perspectives on topics like:
- (R)Evolution in Esports
- East Meets West
- Esports Integrity: The Role of Referees
- The Rise of International Esports Competitions
- (In Korean) Korea’s Secret Sauce etc.
Also, featured at this year’s event are the IESF World Esports Training Camp and the World Esports Referee Academy.
These are very important IESF programs that are aimed at advancing the skills and professional standards of the next generation of Esports leaders.
Join us in Busan for two days designed to inspire, connect, and empower the international Esports community.
Registration for the World Esports Summit is free and open to all interested attendees.
To register, please complete our online registration form: iesf.formstack.com/forms/wes2024_participation_registration
See you in Busan!
eSports
Akhil Sarin CMO at Easygo named as key note at ICE Esports Conference
Clarion Gaming has confirmed that Akhil Sarin CMO at Easygo, the technology powerhouse behind the success of global brands Stake and Kick will headline the Esports & Games Conference (EGC) taking place on 21 January as part of the ICE Barcelona experience. As a key member of the executive team, Akhil Sarin has been instrumental in securing the high-profile partnerships that have accelerated Stake’s growth, including the Stake F1 team, UFC, Drake, and Premier League Everton FC.
Through these strategic alliances he has amplified Stake’s brand presence at the same time as creating unique, immersive player experiences, in the process setting new industry benchmarks.
Announcing the high profile speaker Will Harding, Head of Esports at Clarion Gaming said: “Securing Akhil Sarin as EGC key note at ICE Barcelona represents a remarkable opportunity for our attendees to gain invaluable insight into cutting-edge strategies in digital and influencer marketing .
“Akhil’s expertise with Stake and Kick.com embodies the forward-thinking, innovative approach that defines the digital marketing landscapes. His participation underscores the calibre of knowledge-sharing that we are committed to delivering at ICE and he is sure to both inspire our attendees and elevate their strategic perspective.”
Looking ahead to ICE Barcelona, Akhil Sarin stated: “Collaborating with Clarion Gaming at ICE Barcelona is an exciting opportunity to showcase Stake’s journey and continued focus on bold partnerships and creative marketing strategies that resonate with audiences.”
He added “The EGC is a vital platform for exchanging transformative ideas and shaping the future of gaming and entertainment. I look forward to discussing Stake’s vision and collaborating with industry leaders to inspire growth and innovation across the sector.”
-
Latest News1 day ago
Make every pixel personal: Opera GX facelift lets you match your browser to your setup down to the smallest detail
-
Latest News1 day ago
Casino Management System Market to Reach USD 29.09 Billion by 2032 | Enhanced Security and Operational Efficiency Drive Growth | Research by S&S Insider
-
Balkans6 days ago
EGT Digital’s iGaming platform X-Nave and successful titles to deliver high-quality experience to BetHub’s customers
-
Asia7 days ago
Mascots Xiyangyang and Lerongrong ready for China’s 15th National Games
-
Australia7 days ago
ACMA: Tabcorp Pays $262,000 Penalty for Illegal In-Play Bets
-
Latest News6 days ago
AGREEMENT BETWEEN ZITRO AND GRUPO OSGA TO PROMOTE THE LABOT INTEGRATION OF PEOPLE WITH DISABILITIES
-
Latest News6 days ago
Week 46/2024 slot games releases
-
Latest News1 day ago
Fast Track Celebrates Third Year as a Great Place to Work Certified™ Tech Company