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
Huge Jackpot at King Billy Casino: C$3,658,306!
King Billy Casino, launched in 2017, has had some impressive players wins during the “reign of King Billy”. A few of them include Live Game winnings of €135,223, daily winnings from 2 or more slots of $164,000, and €250,000 won on a single spin. However, the latest win by a King Billy Casino player dwarfs every big win that has come before this. Actually, it’s bigger than all previous big wins combined for the operator!
Because, we are talking about C$3,658,306.
This amazing six-digit number was the result of a player going on a safari in her (and millions of other players) beloved Mega Moolah progressive slot from Games Global. In an autumn, the player stepped into eternal summer by wagering a small C$6,25 bet and winning 562.816 times her bet! This is the power of Mega Moolah, as evidenced at King Billy.
King Billy people had only warm words for the occasion. A representative of the casino has stated: “We are elated, for this huge big win. We can never forget that our first big win, many years back, was more than 200,000 Canadian dollars, so we have special ties with the region. And it’s now amazing to see our VIP-player making such a cashback and echoing that big win! Congratulations to our player”.
A few words about Mega Moolah. It was an Internet sensation when it was launched with its beautiful graphics and sounds, and immersive gameplay and it is a sensation today, still going strong after almost 20 years. The slot, which has spawned more than 20 variations, and has given millions in cash to players all over the world (including 5 millionaires in 2024 alone) features 4 types of jackpots that make it stand out from the competition.
About Games Global
Games Global is a supplier of the online gaming industry delivering force and direction to gaming with more than 1,300 top class games. The company has made a commitment to deliver the industry’s more disruptive ideas and compelling data-driven gaming experiences. Games Global features a total of 40+ partnered and in-house studios, services 600+ branded websites and boasts record-breaking jackpots with its worldwide network.
About King Billy Casino
Established on St Patrick’s Day in 2017, King Billy is a renowned new generation casino with more than 26 awards and accolades. The casino is available in English, German, French and Finnish, and created a unique user experience, building on the theme of King Billy and his Kingdom. King Billy ensures that all its players, “Citizens” in the casino language, receive the care and attention they deserve.
Latest News
ZITRO INTRODUCES CASH TOTEMS: A MYTHICAL JOURNEY TO ANCIENT FORTUNES
Awaken the power of ancient gods in Zitro’s new game release, Cash Totems. With two exciting themes—Tomahawk and Vikings—this slot title transports players to a mystical world where Ancient Gods hold the key to incredible fortunes.
Cash Totems offers a Free Games bonus with 10 initial free spins and introduces 3 combinable metamorphic features, each supported by its own scatter symbol. The left accumulator features Sticky Wilds, where players can earn credits with the corresponding scatter symbol. The right accumulator offers Rainy Multiplier Wilds, granting extra spins with each corresponding scatter symbol, enhancing winning opportunities.
Finally, the central accumulator unveils a thrilling Jackpot feature, where each corresponding scatter symbol reveals two potential prizes (Low/High) and awards players one of the following: Credits, Extra Spins, or the chance to spin the Jackpot Wheel. Landing on the jackpot symbol activates the wheel, offering one of four jackpots: Mini, Minor, Super, and Mega.
Unveil the hidden fortune within Cash Totems!
Latest News
Betway Customer Wins £53,000 from £1 eSoccer Bet
Betway is thrilled to announce a new milestone in its eSoccer platform, as one lucky customer scored a huge eSoccer payout – walking away with an incredible £53,000 from just a £1 stake. The winning bet, a six-fold accumulator, has set a new record for eSoccer payouts at Betway, marking a historic moment for both the customer and the platform.
eSoccer, a fast-growing sector at Betway, blends the thrill of football with the high-energy world of esports. In these virtual matches, two players go head-to-head in EA Sports FC 25 (formerly known as FIFA), with games running in short, action-packed formats of 8, 10, or 12 minutes. Every game Betway offers has a stream on the inplay site with streams also available on YouTube and Twitch to the public.
Mike Reading, a spokesperson for Betway, commented, “Football is a passion we share with our customers, and eSoccer has become one of our fastest growing products. We are delighted to see a lucky customer turn a £1 bet into an incredible £53,000! It’s moments like these that highlight the thrill of eSoccer for our players and we’re looking forward to celebrating more big winners in the future.”
This record-breaking win reflects Betway’s commitment to offering an exciting range of products and delivering unforgettable experiences for its customers.
-
Asia6 days ago
VSPO, the largest esports company in Asia, rebranded Hero Esports to support global growth strategy
-
Latest News6 days ago
Week 45/2024 slot games releases
-
Central Europe6 days ago
Evoplay enters Czech market with exclusive Fortuna collaboration
-
Industry News6 days ago
iGB Affiliate attracts registrations from 55 nations in just six weeks
-
Industry News6 days ago
Endorphina Affiliate Hub: Huge Benefits for Affiliates
-
eSports7 days ago
Hilton Riyadh Hotel & Residences Named Official Main Partner for World Esports Championship 2024
-
Compliance Updates6 days ago
Aviatrix lands in the Netherlands
-
Compliance Updates6 days ago
Comtrade Gaming Receives UKGC Approval to Distribute Gaming Content