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Paf (company)

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Paf
Native name
Ålands Penningautomatförening
TypeGovernment agency
IndustryGambling & casinos
Founded1966
HeadquartersMariehamn,
Åland
,
Finland
Area served
Worldwide except non-regulated countries
Key people
Christer Fahlstedt (CEO)
ProductsSlots, bingo, casino, poker, online betting, live betting, lotteries
ServicesOnline gambling, slot machines, casino services
Revenue€214.5 million (2025)
€57.2 million (2025)
Number of employees
295 (2025)
ParentÅlands Penningautomatförening
Subsidiariespaf.es
Websitewww.paf.com

Ålands Penningautomatförening (commonly abbreviated Paf) is a government-owned gambling operator in the autonomous Finnish region of Åland.[1] Established in 1966, it has legal authority under Åland’s gambling framework to provide gambling on the islands, online, and on passenger vessels operating from the region.[1][2]

Paf’s operations include online gambling, gambling on board passenger ships in the Baltic Sea and surrounding Nordic sea routes, and land-based gaming such as slot machines on Åland.[2][1]

History

[edit]

Paf was founded in 1966 by a group of non-profit organisations in Åland, including Folkhälsan på Åland, Rädda Barnen (Save the Children), the Röda Korset (Finnish Red Cross), and the Dagens Barn foundation.[3]

The company began operating on Åland-registered ferries in the early 1970s, and launched its first online games in 1999.[3]

In 2015, Paf and Sunborn Hotel opened Casino Sunborn in Gibraltar.[4] The casino was sold to Admiral in 2018.[5]

In 2021, the Supreme Court of Finland sentenced Paf to a community fine of €250,000 in a case concerning negligent money laundering.[6]

In 2024, Paf announced a commitment to achieving net-zero greenhouse gas emissions by 2040, a target validated by the Science Based Targets initiative (SBTi).[7]

Markets and brands

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Paf conducts licensed gaming operations in several European markets through a portfolio of consumer brands that varies by country. Its core brands include Paf.com, Paf.se, Paf.es and Paf.ee. In Sweden, the company also operates SpeedyBet.com, SpeedyCasino.com, X3000.com, GoldenBull.se, 1x2.se and CasinoEpic.se. In Spain, it operates GoldenBull.es, SpeedyBet.es and PiñataCasino.es, while in Latvia it operates 11.lv, PafBet.lv and X3000.lv.[8]

In addition to its consumer brands, Paf provides the gaming platform for mycasino.ch in Switzerland through a partnership with Grand Casino Luzern.[9] In 2025, mycasino.ch was the market leader in Switzerland's online casino market and reported gross gaming revenue of CHF 95.4 million.[10]

Distribution of surplus

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Paf's surplus is distributed by the Government of Åland and an independent allocation council to public-benefit associations, organisations and charitable causes. Since Paf was founded in 1966, more than €527.9 million has been distributed through this system.[11][12]

One example of the surplus distribution took place in 2024, when the Government of Åland allocated €3 million from Paf's surplus to the Olena Zelenska Foundation. The funding was intended to restore and equip school shelters in Ukraine.[13] Ukraine's First Lady Olena Zelenska visited Åland on 20 March 2025 in connection with the donation.[14]

Responsible gambling initiatives

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In 2018, Paf became the first international gaming company to introduce a mandatory annual loss limit, initially set at €30,000 per customer.[15] The limit has been progressively lowered since then. As of 2026, the limit stands at €15,000 per year for customers aged 25 and over, €6,000 for those aged 20–24, and €1,800 for customers aged 18–19 – representing a 50% reduction from the original cap.[16] Paf has stated a long-term ambition to lower the limit further to €8,000 per year.[17]

Awards and recognition

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  • 2014 – Social Responsibility Award, eGaming Review Operator Awards.[18]
  • 2017 – Social Responsibility Award, eGaming Review Nordic Awards.
  • 2018 – Best Marketing Campaign, eGaming Review Nordics Awards.
  • 2018 – Named one of Finland's 40 most inspiring workplaces by consulting firm Corporate Spirit Ltd.[19]

References

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  1. 1 2 3 Lerkkanen, Tuulia; Hellman, Matilda (2021). "Resilience and autonomy at stake: The public construct of the Paf gambling company in the Åland Islands community" (PDF). Island Studies Journal. 16 (1): 341–362. doi:10.24043/isj.144. Retrieved 25 December 2025.
  2. 1 2 Nikkinen, Janne; Pihkala, Anni; Marionneau, Virve (2023). "Between offshore competition and a duopoly: Gambling provision on and from the Finnish Åland Islands" (PDF). Nordic Journal on Law and Society. 6 (1): 1–20. doi:10.36368/njolas.v6i01.319. Retrieved 25 December 2025.
  3. 1 2 "The history of Paf". Paf. Retrieved 8 September 2015.
  4. ↑ "Casino Sunborn License Granted". Essential Marbella Magazine. Archived from the original on 2015-05-14. Retrieved 3 January 2021.
  5. ↑ "Sunborn and Casino Admiral join forces on new venture". Chronicle.gi. Retrieved 3 January 2021.
  6. ↑ "Penningtvätt av oaktsamhet". Finlex Data Bank (in Swedish). Finland's Ministry of Justice. 3 February 2021. Retrieved 9 March 2022.
  7. ↑ "Paf commits to Net-Zero emissions by 2040". Gambling Insider. 1 March 2024. Retrieved 1 July 2026.
  8. ↑ "Annual Report 2025". aboutpaf.com. Retrieved 12 June 2026.
  9. ↑ "Greentube launches in Switzerland on mycasino.ch". iGaming Business. 14 October 2019. Retrieved 12 June 2026.
  10. ↑ "Grand Casino Luzern Group heralds mycasino online brand as the 'backbone and growth driver for the entire group'". G3 Newswire. 12 May 2026. Retrieved 12 June 2026.
  11. ↑ "Paf Contributes More Than Half a Billion Euros for Benefit of Society Since its Foundation in 1966". EEGaming. 26 May 2026. Retrieved 12 June 2026.
  12. ↑ "Paf passes societal contributions milestone amid record profits". Intergame Online. 26 May 2026. Retrieved 12 June 2026.
  13. ↑ "Inget krav på Ålandsbesök av Zelenska". Ålandstidningen. 21 March 2025. Retrieved 12 June 2026.
  14. ↑ "Ukrainas första dam Olena Zelenska besökte Ålands lagting". Ålands lagting. 21 March 2025. Retrieved 12 June 2026.
  15. ↑ "Paf.com First International Gambling Company to Introduce Loss Limit". PRNewswire. 13 June 2018. Retrieved 12 June 2026.
  16. ↑ "Paf reduces loss limit again amid Finnish regulatory changes". SBC News. 12 February 2026. Retrieved 12 June 2026.
  17. ↑ "Paf targets €8,000 annual player loss limit after latest reduction". iGaming Business. 12 February 2026. Retrieved 12 June 2026.
  18. ↑ "Paf wins award for social responsibility". Intergame. Retrieved 24 August 2015.
  19. ↑ "Paf is one of the most inspiring workplaces in Finland – wins "Most Improved" prize". News Powered by Cision. Retrieved 3 January 2021.
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