Paf loss-limit drops revenues by €4m
Åland-based operator hails effectiveness of “industry-first” scheme
Paf’s industry-first loss-limit is reducing revenues by approximately €4m annually, the firm has announced.
The €30,000 cap on online losses per customer has been gradually implemented since September 2018, with the company hailing the effectiveness of the scheme.
“It is a lot of money, but it is unsustainable money that we are no longer receiving,” said Christer Fahlstedt, CEO of Paf.
“As one of the few truly Nordic gaming companies with the basic idea of protecting society, this is the right way to go for Paf. The foreign gaming operators from southern Europe have too strong a focus on profits,” Fahlstedt added.
The company said it would have fully implemented the scheme by 2020.
Christer Fahlstedt
The company generated online revenues of €84.5m in 2017, suggesting the downturn is in-line with its 5% prediction.
Paf had previously called for all licensed operators in the re-regulated Swedish market to implement such a limit but its proposals were not included in the licensing regime.
“Regardless of that… we hope our competitors will follow and the authorities will set a common limit,” Fahlstedt said when the limit was first announced.
As part of its responsible gambling pledge, Paf said it will eb improving its tools for detecting risky gambling behaviour.