Paf, the Aland-based gambling company, saw €20m of its funds go to good causes in the Aland islands following its 2016 accounts when the company made a profit of €15.2m, which was €7.5m down on the 2015 accounts.
Total revenue was up from €110m to €113.5m, a record for the company. Gross gaming revenue for online operations increased seven per cent, but revenues from land-based and shipboard gambling operations fell by the same percentage to €31.5m.
CEO Christer Fahlstedt said that the company would be implementing some organisational changes to "create optimal conditions for moving forward even faster.” During the year the company celebrated its 50th anniversary, moved its headquarters in Aland and started a collaboration with the Norwegian cruise ferry operator Color Line.
The company was originally founded for generating funds for good causes in the Aland Islands, which are part of Finland but which are entirely Swedish-speaking. Since it was founded in 1966 Paf has raised more than €300m for good causes.
