Big-money players fall as Paf announces 4% profit growth

By Iqbal Johal

Paf has seen revenue made from customers who lost at least €30,000 ($32,630) in 2019 fall 67% year-on-year to €3.2m.

The number of customers who lost €30,000 or more last year gambling with the operator dropped from 0.13% to 0.04%.

Last October, Paf announced it was setting mandatory loss limits of €25,000, down from €30,000. The initiative saw the operator become the first to set maximum loss limits, first announced in 2018.

Revenue from those losing between €0.01 and €8,000 increased 10% to €79m. Total gross gaming revenue (GGR) for the operator rose 4% in 2019 to €102.8m, with total profit increasing to €25.6m, also a rise of 4%.

The operator also announced its to provide a dividend of €40m, comprising of profits from 2019 and previous years, which will go to government of Åland, to help with the impact of the coronavirus.

Paf Chairman Jan-Mikael von Schantz, said: “We would like to express our sincere thanks to the management and staff for their excellent work. The importance of Paf’s contribution to society appears to be extraordinarily high in situations such as these.”

Speaking about revenue from high-earning players decreasing, CEO Christer Fahlstedt, added: “We believe in openness and that openness gives strong credibility to discussions about responsible gaming. We are proud and happy that our development is going in the right direction.”

Paf won the Global Gaming Award for corporate responsibility at the Global Gaming Awards London 2020 for its player loss limits.

However, critics have suggested Paf's scheme curbs VIP revenue from those who can afford it but does little to reduce problem gambling at the lower end of the revenue scale.

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