Paf (company)

Paf
Native name
 Ålands Penningautomatförening
Government agency
Industry Gambling & Casinos
Founded 1966
Headquarters Mariehamn, Åland Islands, Finland
Area served
 Worldwide except Non-Regulated Countries
Key people
 Christer Fahlstedt CEO
Products Slots, bingo, casino, poker, betting online, live betting, lotteries
Services Online Gambling, Physical Slots in Baltic region, Club Paf Casino, Poker, Sunborn Casino Gibraltar
Revenue EUR 110 million (2015)
Profit EUR 22,7 million (2015)
Number of employees
 345 (2015)
Parent Ålands Penningautomatförening
Subsidiaries Winga.it paf.es
Website https://www.paf.com

Ålands Penningautomatförening or Paf is a Finnish company that operates a legal gambling monopoly on the Åland Islands, Finland. Paf also has an Internet-based gambling and gaming operation, in addition to operating and maintaining casino and gaming activities on a large number of cruise ferries. The purpose of Paf is to generate funds for humanitarian and social causes on the Åland Islands. Paf serves players from countries including Finland, Sweden, Estonia, Spain and Italy. Paf is licensed and controlled by the local Åland government.

An independent allocation board distributes all the Paf profit to non-profit associations, organizations and good causes on the Åland Islands. In 2015, Paf distributed a total of 20,7 million euros in different grants and loans.[1][2]

Loans and investments

Paf's counterpart in Mainland Finland is the not-for-profit gambling company RAY ("Raha-automaattiyhdistys" in Finnish). Disputes over jurisdiction between the two associations are ongoing.

Paf is going to start a four-year research cooperation with the Department of Psychology at Stockholm University. The study focus on setting limits, customer contact and feedback on gaming habits. The research project is led by Professor of Psychology Per Carlbring, and Paf is funding the study with 320 000 euros.[3]

Paf arrange every other year a multi-national Responsible Gaming Summit. Purpose of the conference is to increase awareness about responsible gaming. The conference is aimed to gaming operators, partners, academics and decision makers to learn from each other and share best practices. The conference arranged at 29 September 2015. The first conference was arranged in 2013.[4]

History

Paf was founded in 1966 in Åland. The founding organizations were Folkhälsan på Åland, Save the Children, Finnish Red Cross and Dagens Barn -foundation.[5]

In 1973 Paf started to operate on the sea in car ferries registered to Åland. In the end of 1990s, Paf began to provide its services on the internet.[5]

In February 2005, Paf was sentenced for violation of gambling law for actively promoting its online gambling activities to Mainland Finland. In December, Paf was yet again placed under investigation, as Finland's interior minister Kari Rajamäki alleged that Paf had continued its gambling in Finland while ignoring its last sentence. Representatives for Paf disputes Rajamäki's claims and contend Paf operate within the boundaries of the law.

In 2015 Paf expanded to the Italian market by acquiring Italian[6] online gaming operator Winga.[7]

Paf and Sunborn hotel opened Sunborn Casino in Gibraltar in spring 2015.[8]

January 29, 2016, Paf's Board of Directors decided to part ways with CEO Anders Ingves.[9] On May 18, 2016, Christer Fahlstedt was appointed as CEO and will be based at the head office in Jomala, Åland Islands.[10]

Operations

Paf operates in EU and UK region with offices in Åland Islands as well as in Helsinki, Stockholm, Tallinn, Madrid and Milan with Sunborn Casino in Sunborn Hotel Gibraltar. Paf employs around 400 people from some 20 different countries.

Paf acquired Italian gaming operator Winga in 2015. Winga is the only operator in Italy which allows its customers to play and interact with a channel owned Television that broadcasts live part of the offer. Winga offers its customers an almost complete, including poker, bingo, the skill games, the Casino and walking will in fact enriched with Sportsbook. Where most of these are accessible both from that from Mobile Tablet.

Awards

Paf was named the most socially responsible gaming company in the eGaming Review Operator Awards in 2014.[11]

Records

According to Guinness World Records, the biggest jackpot in a slot machine game is 17.8 million euros, which was won from Paf's Mega Fortune game in 2013.[12]

Wikinews has related news: Police investigates Paf in Finland

References

  1. ↑ "Paf raises €21 million for the public good in 2014". News Powered by Cision. Retrieved 2016-01-13.
  2. ↑ "Paf Annual Report 2014" (PDF). Retrieved 2016-01-13.
  3. ↑ "Tukholman yliopisto tutkii nettiviestinnän keinoja pelirajojen asettamiseksi". Turun Sanomat. Retrieved October 30, 2015.
  4. ↑ "Peliyhtiö Paf investoi 320.000 euroa peliriippuvuuden tutkimukseen". MEDICINE NUNTIUM. Retrieved October 30, 2015.
  5. 1 2 "The history of Paf". Paf. Retrieved September 8, 2015.
  6. ↑ "Unibet enters B2B market, strikes sports deal with Paf". Calvin Ayre News. Retrieved 2016-01-13.
  7. ↑ "Paf expands into Italy with Winga acquisition". iGamingBusiness. Retrieved September 8, 2015.
  8. ↑ "Paf teams up with Sunborn to open new casino in Gibraltar". GamingIntelligence. Retrieved September 8, 2015.
  9. ↑ "Åland-based gaming company Paf parts ways with CEO Anders Ingves". Åland-based gaming company Paf parts ways with CEO Anders Ingves. 28 January 2016.
  10. ↑ "Christer Fahlstedt is the new CEO of Paf". Christer Fahlstedt is the new CEO of Paf. 18 May 2016.
  11. ↑ "Paf wins award for social responsibility". Intergame. Retrieved August 24, 2015.
  12. ↑ "Largest jackpot payout in an online slot machine game". Guinness World Records. Retrieved August 25, 2015.
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