The Åland-based gaming company Paf has sold its Italian business, Winga, to LeoVegas for an undisclosed sum.
Paf CEO Christer Fahlstedt explained the reason behind the sale. “The Italian market is not aligned with Paf’s future strategy,” he said.
“We received a generous offer from the buyer, and the time was right to sell.
“We aim to grow primarily in markets that we know thoroughly as well as markets where Paf can be expected to become profitable in the long term,” he added.
Paf bought Winga in 2015 from Buongiorno, a part of the Docomo business group. Based in Milan, Winga employs 33 and offers a range of real-money gaming products.
Around half of Winga’s profit comes from from live casino games in studio surroundings and from its live casino broadcasts on Italian television and Sky TV.
