Gambling operator Paf is going to contribute a larger dividend of 40 million euros to the Åland Government as part of coronavirus relief efforts.
The profit generated by the Åland gaming company Paf during the financial year 2019 was €25.6 million, an increase from €24.6 million in 2018. Total turnover also increased from €111.8 million to €114.2 million.
“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,” Christer Fahlstedt, CEO of Paf, said.
The Board of Directors has proposed that €40 million from this year’s profit of €25.6 million and earlier profits be given to the Government of Åland for distribution for socially beneficial purposes. The financial statements were approved by the government and the board was granted the right to discharge.
“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,” Jan-Mikael von Schantz, Chairman of Paf, said.