Paf Makes €40 Million Available To Socially Beneficial Initiatives

It should come as no surprise that the wellbeing of their community is close to the heart of PAF given that they were founded on the Åland Islands by the Finnish Red Cross, Save the Children, Dagens Barn foundation and local health charity Folkhälsan.

This support for society has continued throughout the years with initiatives like gambling therapy insurance, yearly player limits and an ongoing fundraising program which has generated hundreds of millions for charity since 1967.

 A Friend In Need

With the current state of local and global affairs, the Paf Board of Directors hasn’t held anything back in their pursuit of the wellbeing of the community. They approved the massive sum of €40,000,000 for distribution to programs and initiatives that are socially beneficial.

Paf CEO Christer Fahlstedt said:

“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,”

To put their contribution in context the “good year” Fahlstedt refers to a profit of €25.6 million. This means that in addition to emptying their 2019 reserves the board approved a further outlay of €14.4 million in a time when most companies are tightening their belts.

Open Book Policy

As a further insight into Paf’s code of ethics, the company has begun to publicly showcase their profits per customer segment and from 2017 to 2019 they have proven that it is possible to successfully grow a gambling business from low volume play.

Christer Fahlstedt said:

“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,”

Even with the introduction of player limits, Paf has managed to grow their profits while reducing their reliance of big spenders by 67%. This means fewer players at risk of financial hardship and problem gambling, while increasing the enjoyment of casino games as a pastime.