Finnish gambling operator Paf has revealed its 2022 annual report – showing that it made €165.7m ($179m) in gross turnover, compared to €135m for 2021.
The 23% rise in turnover represents a record for Paf, as profit also rose from €34.3m to €44.4m – a sum that Paf pointed out was higher due to an €8m temporary reduction in lottery tax.
The company also highlighted that it had donated over €400m to societal benefits. Furthermore, it also voluntarily lowered its yearly loss limit to €1,800 for players aged between 18-24 and imposed a €17,500 annual loss limit on all players.
Speaking of the move, Christer Fahlstedt, CEO of Paf, said: “We estimate that our measures cost about €7m in total. For Paf as a company, this is a significant sum, but it is the right thing to do. We should provide entertainment in a sustainable way.”
Meanwhile, Chairman of the Board, Jan-Mikael von Schantz, added: “Paf's purpose is to generate funds for the benefit of society and with the strong result we can distribute €33.1m. From the Board's point of view, we are really pleased with how the employees have managed to perform and develop the company over the past year.”
Fahlstedt also highlighted Paf’s sustainable responsibilities, stating: “We have increased the more sustainable green revenues by 22% from 2021 to 2022, which is a big step in the right direction.”
Paf’s report shows that players lost €176.5m overall for the year, with nobody individually losing over €30,000; due to Paf’s loss limits, no customer has lost over €30,000 in the space of a year since 2020.
