Extra big dividend from Paf to help society
Paf is providing a larger dividend of 40 million euros this year. The money will be used to alleviate the negative effects of the coronavirus. Paf’s customer segments for 2019 show that the number of big players has decreased by 67%.
The profit generated by the Åland gaming company Paf during the financial year 2019 was €25.6 million, an increase from €24.6 million in 2018. Total turnover also increased from €111.8 million to €114.2 million.
“We had a good year in 2019 and the decision to give an extra dividend means that Paf contributes a total of 40 million euros this year. Paf’s purpose is to generate surplus for the benefit of society and this year it feels especially good that we have the opportunity to make an even greater contribution,” says Paf’s CEO Christer Fahlstedt.
€40 million to be distributed
The Board of Directors has proposed that €40 million from this year’s profit of €25.6 million and earlier profits be given to the Government of Åland for distribution for socially beneficial purposes. Yesterday the financial statements were approved by the government and the board was granted the right to discharge.
“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,” says Paf Chairman Jan-Mikael von Schantz.
Paf’s openly publishes customer segments again
Last year Paf decided to openly publish its customer segments’ profits and losses – a unique initiative in the gaming industry. This year we keep our promise of continued openness (see the appendix).
In brief, the figures for 2019 show that we reduced the revenues from the red segment of big players by 67%. At the same time we have also managed to increase revenue from players in the green customer segment who play for smaller amounts by 9.8%.
“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,” says Christer Fahlstedt.