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Paf’s results for 2023

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The Nordic gaming company Paf’s annual report for 2023 shows that it has been a good year which means a good sum of Paf funds for society. Paf’s published customer segments show more sustainable revenue in the past year. The Paf board gets a new member.

The Paf Group’s revenue for 2023 increased from €165.7 million to €177.1 million, an increase of 7%. The growth in revenue results in an increase in profit from €44.8 million to €55.1 million, which is a record for Paf.

“We can be happy and proud with the past year. We have gained a larger customer base and the number of active customers has increased by 27%, which explains some of it, but we are also well aware that the temporarily low gaming taxes in Finland have helped the result,” says Christer Fahlstedt, CEO.

Paf’s result is the best result in Paf’s 57-year history and an increase of 23% compared to the previous year. However, gaming taxes in a number of countries will be increased in 2024, which will create different conditions going forward. In Finland, the temporary reduction of the lottery tax has increased from 5% to 12%, in Sweden the gambling tax will increase from 18% to 22%, in Estonia from 5% to 6% and in Latvia from 10% to 12%.

“The trend of increasing gaming taxes will continue, and we expect to see more much-needed demands for increased responsible gaming measures. The changes will result in reduced profitability and many operators will find it more difficult. But Paf is well prepared for the times ahead,” says Christer Fahlstedt.

31.4 million euros in Paf funds
The annual distribution of Paf funds will be €31.4 million. Paf funds are used for the benefit of society, including a number of third sector organisations that work to promote society in social activities, culture, youth work, sports, environmental activities and more.

“It’s undeniably great that Paf is achieving a great result, allowing us to distribute a total of €31.4 million in the form of Paf funds. The employees have done a phenomenal job over the past year, and the Board would like to thank all Paf employees who have made this possible,” says Jan-Mikael von Schantz, Chairman of the Paf Board.

Sustainable entertainment
In 2023, Paf chose to invest heavily in responsible gaming, and the loss limit for all customers was lowered to EUR 17,500 per year. In addition, in spring 2023, Paf introduced a specific loss limit for young players aged 18–19, €1,800 per year. In spring 2024, Paf chose to lower the loss limit for young people aged 20–24. Young people of that age already had a lower loss limit at Paf but it was further reduced from €10,000 to €8,000 per year.

“This is an important continuation of the direction we are striving to take at Paf for our responsible gaming. Now young customers can only gamble with us for sums that are at more sustainable levels and within the framework of the customer segment we have defined ourselves as the green segment,” says Christer Fahlstedt.

Paf’s customer segments 2017–2023
The published table shows the development of gaming in different customer segments from 2017 until 2023. The red segment for customers who have lost more than €30,000 in one year is at zero in recent years, as Paf’s loss limits stop large losses. The white segment shows the number of players who ended the year in profit.

“It is encouraging to see that we have once again increased the green revenues with more sustainable revenues by a full 7.6%. It is possible to change an outdated business model in the industry and we will continue our strive to be a gaming company that provides sustainable entertainment in everyday life,” says Christer Fahlstedt.

The figures for Paf’s customer segments have been reviewed by auditors as part of the audit of the financial statements.

“Our published and open customer segments show what our investments in responsible gaming measures have achieved over the years. The publication gives credibility to our efforts at a level that no other gaming company has been able to show,” says Christer Fahlstedt.

Daniela Forsgård new on the board
Paf gets a new board member when Daniela Forsgård takes a seat on the board. At the same time, Birgitta Eriksson is stepping down after many years on Paf’s board.

“I really want to thank Birgitta for the solid contribution she has made to Paf’s Board over the years.”

“Daniela Forsgård’s merit-based knowledge of finance, combined with the international experience she possesses, will fit in well with the Board. In addition, Daniela has personal experience of Paf as she previously worked at Paf,” says Jan-Mikael von Schantz.

The Paf Board now consists of Chairman Jan-Mikael von Schantz, Board members Gunnar Westerlund, Denise Johansson, Roger Nordlund and Daniela Forsgård.

The post Paf’s results for 2023 appeared first on European Gaming Industry News.

George Miller (Gyorgy Molnar) started his career in content marketing and has started working as an Editor/Content Manager for our company in 2016. George has acquired many experiences when it comes to interviews and newsworthy content becoming Head of Content in 2017. He is responsible for the news being shared on multiple websites that are part of the European Gaming Media Network.

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Gaming Americas Weekly Roundup – November 24-30

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Welcome to our weekly roundup of American gambling news again! Here, we are going through the weekly highlights of the American gambling industry which include the latest news and new partnerships. Read on and get updated.

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VGO Promo, a long-standing platform known for bridging the worlds of cryptocasinos, cryptocurrency exchanges and CSGO skins gaming, has announced a comprehensive expansion of its verification framework designed to bring transparency to online promotional offers. The updated system enhances how users evaluate bonuses across three intersecting ecosystems. Founded during the peak of the CSGO skins economy, VGO Promo originally provided referral codes for case opening websites and virtual item platforms. As the industry evolved towards blockchain based gaming, Bitcoingambling and crypto trading, VGO Promo expanded its scope to support modern platforms including Roobet, Stake, Rollbit, CSGORoll, Duelbits, Binance, OKX, ByBit, Bitget and various case opening services within the CSGO community. The updated verification framework applies a structured, cross industry methodology to help users navigate rapidly changing promotional conditions.

FanDuel has announced the launch of Pass The Leg, a first-of-its-kind in-app feature that transforms traditional parlay betting into a shared, social experience just in time for holiday gatherings. Pass The Leg allows customers to build a single group parlay collaboratively, with each participant adding their own leg before placing individual bets using their own funds. Designed to bring friends and family together around one of the biggest football days of the year whether near or far, the feature allows users to start or join a Group Build, invite others to contribute picks, and then add the completed parlay to their personal betslip. Each contributor can also take advantage of a dedicated Pass The Leg Profit Boost, amplifying the excitement and potential payout of the shared pick. Available exclusively for the three NFL games taking place on Thanksgiving Day, Pass The Leg marks the first true multi-user parlay-building experience offered by a major U.S. sportsbook operator.

Partnerships

The St. Louis Blues announced an agreement designating DraftKings an Official Sports Betting and Daily Fantasy Operator of the Blues. The announcement comes ahead of the launch of legal sports betting in Missouri scheduled for Dec. 1, 2025. DraftKings has been an Official Sports Betting, Daily Fantasy Sports and iGaming Partner of the National Hockey League since 2021. As part of the agreement, DraftKings will spotlight responsible gaming through a pregame, in-arena feature, encouraging fans to play responsibly, have fun and access DraftKings’ comprehensive suite of responsible gaming tools and resources. DraftKings will have rights to use St. Louis Blues intellectual property — including team trademarks and logos — across marketing and promotional materials. The collaboration will feature in-arena signage, brand integrations across television and radio and exclusive hospitality experiences throughout the season, all designed to elevate fan engagement at the Enterprise Centre and beyond.

Signature Systems Inc (SSI) has announced a new partnership with Yellow Dog Software. The integration connects Yellow Dog’s advanced inventory capabilities with SSI’s PDQ POS system, enabling operators to streamline operations, improve cost control and gain real-time visibility across their properties. The partnership was initiated to meet the inventory needs of Osage Casinos, a major name in tribal gaming. The integration, which went live in September, was first deployed to support convenience store reporting and ordering across the properties.

The post Gaming Americas Weekly Roundup – November 24-30 appeared first on European Gaming Industry News.

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Scaling With Purpose: RedCore’s Tech Vision Explained

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At SiGMA Central Europe in Rome, European Gaming Media sat down with Yevhenii Yankovyi, Vice President of Technology and Deputy CTO at RedCore, for a deep look into what truly powers RedCore’s large-scale engineering operations.

RedCore is known for innovating at enterprise level, yet moving with the agility of a fast-growing tech company. In this conversation, Yevhenii breaks down how the organization manages that balance: how engineering teams maintain both speed and reliability, how automation empowers creativity, and why culture must remain a daily practice rather than a one-time achievement.

 

Can you introduce yourself and RedCore’s approach to engineering at scale?

Sure. My name is Yevhenii, I’m the Vice President of Technology at RedCore and Deputy CTO. RedCore is a large company with many products and projects, so everything we do operates at a significant scale. And when people hear “enterprise-level engineering,” the usual assumption is that scale automatically means slowness: slow decision-making, slow implementation, slow testing, slow time to market.

That’s the mindset we challenge. We don’t believe speed and stability are opposites. In our experience, at this level of complexity, the two actually reinforce each other. When you build the right processes, the right technical foundations, and the right organizational structure, speed becomes a natural result of stability – not something that contradicts it.

We plan for scaling from day one. For us, that’s a fundamental requirement. We build products with the expectation that they will grow, and growth means scale. So we design with that in mind from the very first line of architecture.

But that doesn’t mean disappearing for six or ten months to design the “perfect” system. That’s the common mistake people make when they hear “design for scale.” Our approach is different: we keep the long-term vision in mind, but we move fast, iterate, and make sure the product can evolve without slowing the team down. Stability and speed working together – that’s the engineering culture we build at RedCore.

How does RedCore balance speed and stability in daily engineering?

I will explain this with a simple metaphor: think about a car. Everyone talks about acceleration and top speed, but none of that matters if you can’t take a corner. Speed alone is not the winning formula – you also need control.

That’s exactly how we look at engineering at RedCore. We want to accelerate, make decisions quickly, and develop fast. But we also need the ability to slow down at the right moment, change direction, and stay agile. Balancing speed with stability is the only way to move at scale.

There are many layers to this – it’s a topic I could talk about for days – but in a nutshell:

at a big scale, you must have strong standards, clear policies, and a high level of automation. We rely heavily on automation: infrastructure as code, CI/CD pipelines, automated testing, and all the tools that remove repetitive, routine work from engineers’ daily lives. When the routine disappears, people can focus on what humans actually do best: creativity, problem-solving, and innovation.

However, automation doesn’t build the software for you. It creates a safety net. It catches mistakes, guards quality, and supports engineers when their creativity pushes boundaries. In other words: tools give freedom, and also protect that freedom.

And of course, this includes AI and many other modern tools. We use whatever helps us keep the balance: give people space to think, create, and experiment, while ensuring the system stays stable, predictable, and high-quality.

How does RedCore’s management keep teams aligned yet fast?

First of all, we provide clear goals. As I mentioned earlier, we always design for scale from day zero – but you can only do that if you know exactly what you’re building, for whom, and why. We have a very strong business team that understands the market and what needs to be delivered. The technology team works side by side with them, reinforcing them.

Once the goals are clear, we begin small. If you try to build a huge system from the beginning and get it wrong, you create a nightmare: something no one can support, change, or grow. Complexity grows exponentially, and humans don’t think exponentially; we think linearly. That’s where companies often get lost.

So we avoid that by validating early and validating often. We start with small steps, keep a close eye on every direction we take, and confirm that what we’re building is truly needed by the market. When we see that the direction is right, then we scale – and by that point, the foundation is already in place. It’s like preparing a launchpad so that when the time comes, the team can accelerate immediately.

We build block by block and work in iterations. We take a small team – one, two, maybe three people – and let them experiment for a week. We test the idea fast, get quick feedback, and bring it to the business side: “Do you like it?” If the answer is yes, then we continue, still following all the proper engineering practices before anything goes into production.

This constant loop between business and technology keeps everyone aligned. We give feedback, we receive feedback, and we move together. That’s how we stay both fast and coordinated, always ready to scale when the direction is confirmed.

How does automation empower engineers without slowing them down?

When we talk about automation, we’re really talking about optimization at scale. It doesn’t make sense to over-engineer small things, but at the scale we operate, the cost efficiency and speed gains are enormous. And people often assume that big systems and automation automatically slow everything down. For us, it’s the opposite.

The tools we introduce are not meant to tie engineers’ hands with bureaucracy. We don’t force strict guidelines or heavy processes that kill creativity. Our tools exist to help: to prevent mistakes, to collect feedback quickly, and to give teams the shortest possible path from idea to validation.

Here’s a simple example: we start experimenting with a small feature. We build a tiny prototype to see if the idea works. If it’s promising, the next step is testing, pipelines, deployment – all the things that normally take time. In many companies, engineers would try to do all of this manually because “building the tools will take too long.” But with us, the tools are already there. The infrastructure, the CI/CD, the automation – everything is ready to use. Our engineers are essentially customers of this internal platform that supports fast, safe delivery.

We have many different teams that have different great ideas. If one team tries something new and it works better, great – we learn from it. If another team has a different approach because of product specifics or release schedules, that’s fine too. We give freedom to the teams to work, share their experiences, and then scale.

Of course, there are non-negotiables. When it comes to security and data privacy there is zero tolerance. These are areas where strict rules are absolutely necessary. I always tell the security people: everyone should be a little afraid of you, because these things must be perfect. But outside those critical areas, we don’t impose rules that slow teams down. We experiment, gather feedback, adjust, and keep improving.

We’re constantly researching, experimenting, and customizing our automation depending on the product and the market. But when it comes to system design, we don’t reinvent the wheel. We choose globally recognized tools and industry-validated technologies. So yes, we empower engineers with automation and the right tools, built on a solid, modern foundation.

How does culture work for you – is it an achievement, or part of your routine?

Culture is a critical element in balancing speed and stability. Tools and processes matter, but culture is what truly empowers a team and keeps everything together at scale.

For us, culture starts with giving people freedom: the freedom to experiment, the freedom to make mistakes, and the freedom to challenge ideas. We don’t want engineers to be afraid of trying something new. We build a culture where mistakes are acceptable and manageable. If we try something and it doesn’t work, great – now we know better. We learn, adjust, and move on.

We encourage ideas from every level. Some of our most interesting insights come from developers who notice something while working on a small task. They can come directly to me or to the CTO and say, “I see a problem here.” It’s completely okay. A small detail in one corner of the system can become a huge issue at scale, so we listen. That’s how we avoid blind spots.

We also give teams autonomy. Small teams can make their own decisions and experiment in their own ways. If different teams want to do things differently, that’s fine – as long as they validate everything and share their findings. We want people to help each other and to understand that even top engineers have ups and downs. Even senior management makes mistakes. I constantly ask my team: “If I make a wrong decision, tell me.” It’s not about transparency as a buzzword – it’s about behavior. People observe how you respond, and they learn from that.

The biggest mistake any leader can make is demotivating people. We work with intelligent, educated, passionate professionals. They want to contribute. You just need to give them the space to do it. That’s when you see people shine and bring forward brilliant ideas.

As for the question of whether culture is an achievement or a routine – for us, it’s definitely a routine. People often talk about “building a strong engineering culture” as if it’s a success. We treat it as a routine as a process. Culture is the daily interactions between people in an organization. Those interactions change: people come and go, someone has a bad day, someone disagrees with a decision. Culture is shaped every day by how we communicate, how we argue, how we respect each other, and how we resolve differences.

Going to a colleague in the kitchen and asking, “Hey, what do you think about this?” – that’s culture. Anyone can talk to anyone, openly. And when engineers realize they can make a real impact, that they are heard, that they can influence the product — that motivates them. That’s what keeps the culture alive.

How do you balance standards with creative freedom?

The first thing is that we don’t pressure people. We set strict standards only where they are truly critical for the business. Security, data privacy, stability at scale – those areas demand clear rules. But everywhere else, we try not to push people. And when we do introduce a standard or guideline, we listen carefully to feedback. If the team tells us we made the wrong call, that’s okay – we rethink it and look for better approaches.

The second thing is that as the projects grow, the teams scale as well. Even in the design phase, we don’t start with a huge team. I prefer a small group: one key person who leads the design initiative, plus two or three contributors who constantly review, test, question, and give feedback. If three or four people align in one direction, that’s a good signal we’re on the right track. Then we take that proposal to a larger group – people who might use it or need it.. We refine it again based on their input. The idea evolves, but we don’t need to start from the beginning.

Finally, when we have a strong direction, we present it to the entire tech team. And even then – even if top management already supports the decision – it’s completely acceptable for a mid-level developer to raise concerns. Maybe they’ve seen something before, maybe they read an article, maybe they faced a similar issue. We listen, because at scale, one overlooked detail can cost millions.

So once again, balancing standards with creative freedom is about scaling the processes step by step: we start with a small group, validate in small cycles, and then scale the decision up gradually. This approach protects creativity, ensures high quality, and keeps us aligned. And combined with our culture, it makes the process both fast and safe.

The post Scaling With Purpose: RedCore’s Tech Vision Explained appeared first on European Gaming Industry News.

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Super Group Comments on United Kingdom Autumn Statement

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Super Group (SGHC) Limited, the parent company of Betway, a leading online sports betting and gaming business, and Spin, the multi-brand online casino, notes the United Kingdom Autumn announcement:

In this Autumn Statement, the UK government announced increases to gambling duties: Remote Gaming Duty (iGaming) will rise by +19 percentage points (from 21% to 40%), effective April 2026 and General Betting Duty (Online Sports Betting) will rise by +10 percentage points (from 15% to 25%), effective April 2027.

Neal Menashe, Chief Executive Officer, stated: “Super Group supports the reasonable taxation of online gaming in the UK. We rely on the government to ensure that today’s very substantial increase should be paired with robust and strict enforcement against non-paying offshore operators. This is essential to protect the regulated sector’s investment in jobs, technology, and responsible gaming in the UK.”

Alinda van Wyk, Chief Financial Officer, commented: “Going forward, we estimate that these new tax increases will have an impact of approximately 6% to our 2026 Group Adjusted EBITDA. However, Super Group already has several mitigation levers in motion, which are intended to offset the tax impact. Our strategy remains unchanged: sustainable growth and disciplined capital allocation. We don’t expect today’s news to alter our long-term trajectory nor our capital return priorities.”

The post Super Group Comments on United Kingdom Autumn Statement appeared first on European Gaming Industry News.

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