Gaming operator Paf will pay an extra €40 million in dividends to help combat the novel coronavirus (Covid-19).
Based on the Åland Islands, an autonomous archipelago under Finnish sovereignty, Paf has also revealed its year-on-year profits for 2019.
The initiative forms one of many strives to give back to both wider society and online players.
Contributing to the cause
The €40 million that Paf will donate is to come from the profits generated both during and prior to 2019. It will be paid to the government of Åland. The financial statement has already been approved by the territory’s authorities.
CEO Christer Fahlstedt shared his thoughts on the initiative, with his words being as follows.
“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.”
The company’s chairman, Jan-Mikael von Schantz, also spoke about the contribution. His words are below.
“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.”
Year-on-year growth in 2019
Last year, Paf’s profits rose to €25.6 million. This was 4% higher than 2018’s total, which was €24.6 million.
Total turnover also went up. Compared to €111.8 million in 2018, last year’s figure stood at €114.2 million.
Paf also connected with four other operators last October to promote responsible gambling.
Other social initiatives
The company has also announced the latest figures in its attempt to lower reliance on VIP schemes for revenue.
Player losses of more than €30,000 have lowered by 67%. As a result, Paf is moving its ‘mandatory loss limit’ down to €25,000.
Last month, the operator also revealed that it had bought 15 new bicycles for Åland United – a women’s football team which plays in Finland’s top flight.