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Åland-based gaming company Paf has reported an operating profit of €27.6m for 2017, a rise of more than 80 per cent on the €15.2m recorded in 2016.

Total turnover reached €116.5m in the period, up from €113.5m year on year. A total of €18m will be allocated to the regional government of Åland to be distributed among good causes within the Åland community.

Paf CEO Christer Fahlstedt said: “2017 was a very strong year for Paf. Our net result nearly doubled during the year and we saw a steady growth in all markets.

“We are proud to have performed so well despite the sale our Italian subsidiary in February, 2017. This shows that our strategy, which focuses on key markets and cost effectiveness, has already born fruit.”

The gross gaming revenue for online operations rose from €81.9m to €84.5m, while GGR for physical gaming, on land and aboard ships, increased from €31.5m to €31.9m.

“We are extra proud of our good result in 2017 because we have invested heavily in responsible gaming measures at the same time,” said Fahlstedt. “During 2017, we have made many concrete improvements in order to better support responsible gaming.

“For example, we follow up our customers’ gaming patterns, and based on this we contacted a significantly higher number of customers than before in order to prevent problem gaming.”