The Swedish-licensed gaming companies Speedy Ltd and Speedy Originals, previously owned by Hero Gaming, are now part of Paf’s portfolio.
Paf Becomes One of Sweden’s Top Six Gaming Companies
Åland Islands-based gaming company Paf has bought the Swedish licensed gaming companies Speedy Ltd and Speedy Originals from Hero Gaming. Thus, Paf is adding the gaming sites Speedy Casino, Speedybet, and Speedyspel to its portfolio. The deal is aimed at positioning the gaming operator as a leader in the global industry. The acquisition will send the operator to the list of the top six largest gaming companies in Sweden.
The newly acquired sites will have to implement Paf’s universal loss limit of $23,757 per year in order to promote responsible gaming. The deal will not affect the websites’ branding.
“We do not have an interest in taking over the gaming sites unless their customers are largely at a gaming level that we accept. Customers will notice that we value responsible gaming very strongly, and expect any acquisitions to have the same level of responsible gaming that we have on Paf’s other gaming sites.”
Christer Fahlstedt, CEO, Paf
Fahlstedt added that the deal demonstrates the company’s confidence in the opportunities offered by the Swedish market, as well as its capacity to acquire strong partners. The CEO of Hero Gaming Tomas Bäckman said the acquisition will Paf’s doors to the global market. Bäckman highlighted Paf’s long-term strategy and responsible gaming work and added that after the acquisition Hero Gaming will be able to focus on its development in the global market.
Paf Cuts Loss Limits in 2021
Paf’s revenue for the period January — December 2020 stood at $127.6 million, which corresponds to a 1.1% decline from $135.54 million in the previous year. However, the company experienced an 18.8% year-over-year increase to $119.16 in its online gambling segment in 2020.
The betting operator said the uptick was due to the acquisition of Mandalorian Technologies in February 2020, which brought in $21.83 million in online revenue.
Paf said its internet revenue was affected by the decision to further cut loss limits for online players. The threshold in 2020 was $29,670 per customer, down from $35,600 in 2019, while in 2021 it went down one more time to $23,730. As a result, the average revenue per online customer declined by 17% in 2020.