Paf’s Record-breaking Year in 2023
The Nordic gaming company Paf’s annual report for 2023 reveals a successful year, translating into significant funds for society. The report highlights sustainable revenue growth and the addition of a new member to the Paf board.
Revenue and Profit Growth
In 2023, the Paf Group’s revenue surged from €165.7 million to €177.1 million, marking a 7% increase. This rise in revenue led to a boost in profit from €44.8 million to €55.1 million, setting a new record for Paf.
Christer Fahlstedt, CEO, expressed satisfaction with the outcomes, attributing the success to an expanded customer base with a 27% increase in active customers. He acknowledged the role of Finland’s reduced gaming taxes in contributing to the favorable results.
Changing Gaming Tax Environment
Despite the remarkable performance in 2023, the upcoming year presents challenges as several countries plan to raise gaming taxes. Finland, Sweden, Estonia, and Latvia are set to increase their respective tax rates, posing potential profitability and operational hurdles for operators like Paf.
Fahlstedt anticipates heightened demands for responsible gaming measures due to the tax changes but assures that Paf is well-prepared for the evolving landscape.
Investing in Society
Paf’s commitment to society is exemplified by the earmarking of €31.4 million in Paf funds for various social initiatives. These funds support organizations engaged in activities spanning social welfare, culture, youth work, sports, and environmental conservation.
The board commended the employees for their contributions to achieving such a substantial fund distribution.
Focus on Responsible Gaming
Emphasizing responsible gaming, Paf implemented lower loss limits for customers in 2023, with further reductions for young players in 2024. These measures aim to ensure sustainable levels of gambling and promote a culture of responsible entertainment.
Fahlstedt reiterated Paf’s commitment to fostering a green segment of customers engaged in sustainable gaming practices.
The data on Paf’s customer segments underscores the company’s success in promoting sustainable revenues and responsible gaming practices. The inclusion of Daniela Forsgård as a new board member reinforces Paf’s continued pursuit of excellence in the gaming industry.