Paf revenue up 7% for 2023

Profit yielded a record total for the company. 

positive results
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Paf has released its results for 2023, highlighting a positive year of growth for the operator. 

For the full year, revenue increased 7% year-on-year to a figure of €177.1m ($191.7m), which resulted in a rise in profit from €44.8m to €55.1m, a record total for the company. 

Paf has underlined that 2023 was its best result in its 57-year-history, but mentioned that gaming taxes in a number of countries will be increased in 2024 and this will lead to different conditions going forward, such as the gambling tax increasing from 18% to 22% in Sweden

As a result of these positive results, the annual distribution of Paf funds is set to be €31.4m, which goes towards society, including a number of third-sector organisations. 

Looking at Paf’s customer segments, the customers within the section who have lost more than €30,000 in one year remained at exactly 0% again, while the number of players who ended the year in profit was 27.02%, up from 21.66% in 2022. 

In addition to its results, the operator announced that Daniela Forsgård will be taking a seat on the board, with Birgitta Eriksson stepping down from the board. 

Paf CEO Christer Fahlstedt said: “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. 

“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.” 

Chairman of the Paf Board Jan-Mikael von Schantz added: “It’s undeniably great that Paf is achieving a great result, allowing us to distribute a total of €31.4m 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.” 

In other company news, Paf recently announced the reduction of its loss limit for players aged 20-24 years with the loss limit being reduced from €10,000 to €8,000. 


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