The group highlighted Covid-19 restrictions as a major reason for the decrease in revenue, with large sections of Paf’s operations shut down or operating under severe restrictions throughout the year.
Paf’s Land & Ship operations were the main area that affected the decline in results, with revenues decreasing by 59%. Internet operations meanwhile were impacted by cancelled sporting events and restrictions in various markets, while the group’s self-imposed work to reduce the revenue from its biggest players also affected revenue.
“2020 was an extreme year in so many ways,” a statement from Paf read. “Despite the financially strained situation, Paf chose to lower its loss limit even further for 2021. This year is the third year in a row that Paf has openly published its customer segments – an openness that is still unparalleled in the gaming industry.”
Paf CEO Christer Fahlstedt noted: “If we look at our openly published customer segments for Paf.com, we can declare that we have now completely stopped taking revenue from the ‘high rollers’. This is an important turning point in our pursuit of sustainable revenues.
“At least we have recently noticed that some other gaming companies in Sweden are now talking about transparency and the possibility of showing some actual numbers, if they only knew how to do it. Well here are our numbers, we have published them for three years in a row now.”
