{"id":254,"date":"2024-06-27T00:23:45","date_gmt":"2024-06-26T21:23:45","guid":{"rendered":"https:\/\/luckycreek100nodepositbonus.icu\/2024\/06\/27\/paf-reports-record-high-income-in-2023-but-warns-of-tax-impact\/"},"modified":"2024-06-27T00:23:45","modified_gmt":"2024-06-26T21:23:45","slug":"paf-reports-record-high-income-in-2023-but-warns-of-tax-impact","status":"publish","type":"post","link":"https:\/\/luckycreek100nodepositbonus.icu\/2024\/06\/27\/paf-reports-record-high-income-in-2023-but-warns-of-tax-impact\/","title":{"rendered":"Paf Reports Record High Income in 2023, but Warns of Tax Impact"},"content":{"rendered":"<p><iframe loading=\"lazy\" width=\"800\" height=\"450\"\n    src=\"https:\/\/www.youtube.com\/embed\/-9nMdPVMTMA\"\n    frameborder=\"0\"\n    allow=\"accelerometer; encrypted-media; gyroscope; picture-in-picture\"\n    allowfullscreen><br \/>\n<\/iframe><\/p>\n<p>Paf achieved a record high income of \u20ac177.1 million (\u00a3150.8 million\/$191.4 million) in 2023, but the Scandinavian company also cautioned that increased gambling levies could affect its future earnings.<\/p>\n<p>Paf experienced another financially successful year in 2023, with earnings rising by 6.9% year-over-year. The company&#8217;s net profit also expanded by 23.0% to \u20ac55.1 million, another new yearly record.<\/p>\n<p>However, although CEO Christian Fahlstedt welcomed the news and commended Paf&#8217;s performance, he also issued a warning about the future profit outlook. Fahlstedt specifically highlighted that escalating gambling taxes across various markets could impact net profit levels in the years to come.<\/p>\n<p>In Finland, a temporary reduction in lottery tax has ended, and the rate has now increased from 5% to 12%. Meanwhile, gambling taxes in Sweden have risen from 18% to 22%, Estonia from 5% to 6%, and Latvia from 10% to 12%.<\/p>\n<p>&#8220;We are pleased and proud of the past year,&#8221; Fahlstedt stated. &#8220;We have acquired a larger customer base, with a 27% increase in active customers, which explains part of it.<\/p>\n<p>&#8220;However, we are also clearly aware that the temporarily lower gambling tax in Finland aided the results. The trend of increasing gambling taxes will continue.&#8221; <\/p>\n<p>Fahlstedt also highlighted the influence of the calls for enhanced responsible gaming measures, which he characterized as a &#8220;critical need.&#8221; Interestingly, Paf decided this month to further reduce spending limits for players between the ages of 20 and 24 to \u20ac8,000. This move follows Paf&#8217;s comprehensive overhaul of its compulsory online spending limits in April 2023, decreasing them from \u20ac20,000 to \u20ac17,500.<\/p>\n<p>Fahlstedt stated, &#8220;These adjustments will result in a reduction in profitability, and many operators will encounter greater challenges.&#8221; &#8220;However, Paf is well-prepared for the future.&#8221;<\/p>\n<p>Paf&#8217;s online business expansion drives revenue growth<br \/>\nExamining the revenue performance of 2023, it is evident where Paf&#8217;s growth originates. Its online business revenue increased by 8.2% to \u20ac153.8 million, with Paf emphasizing robust growth in Sweden, Spain, and Latvia.<\/p>\n<p>The latter benefited from the acquisition of Latvian-facing William Hill Latvia SIA and SIA Mr Green in June 2023. Paf indicated that these transactions generated an additional \u20ac5.1 million in online revenue.<\/p>\n<p>Paf also reported a 27.3% increase in the number of registered online customers, reaching a record 615,557. The operator anticipates this total to continue expanding in 2024, supported by ongoing marketing initiatives.<\/p>\n<p>Regarding Paf&#8217;s other businesses, land-based and ship-based operations experienced a revenue decline of 0.9% to \u20ac23.3 million. This is despite a 4.0% increase in the total number of ship passengers in 2023.<\/p>\n<p>Here, Paf has established new agreements with Tallink Group and Ecker\u00f6 Linjen, and welcomed Finnline&#8217;s new vessel M\/S Finnsirius. <\/p>\n<p>Paf and Pikseli have joined forces to create the first land-based gaming area in Helsinki. The concept behind this gaming space combines entertainment games with leisure activities.<\/p>\n<p>Paf has also recognized the growing trend of contactless payments, and all amusement games and nearly half of the coin-operated machines now provide cashless payment options. Paf states this move is designed to meet customer demands for more convenient payment methods.<\/p>\n<p>&#8220;With these initiatives and innovations, we expect continued growth and ongoing improvement of our services and goods,&#8221; stated Paf.<\/p>\n<p>Net profits have consistently risen, driven by revenue growth.<br \/>\nIn terms of expenses, material and service costs increased slightly by 7.9% to \u20ac42.6 million. Staff costs remained stable at \u20ac24.2 million, while depreciation and amortization only increased slightly to \u20ac10.6 million.<\/p>\n<p>Other operational expenses decreased by 2.0% to \u20ac52.9 million, while Paf&#8217;s net financial income rose slightly by \u20ac723,605.<\/p>\n<p>As a result, Paf&#8217;s pre-tax profit reached \u20ac60 million, representing a year-on-year increase of 27.9%. After paying \u20ac5.2 million in taxes and accounting for the impact of deferred taxes of \u20ac305,468, net profit for 2023 increased by 23.0% to \u20ac55.1 million.<\/p>\n<p>Paf also noted that higher revenue and profits allowed it to allocate \u20ac31.4 million in 2023. These funds are used for social\u516c\u76ca\u4e8b\u4e1a, including supporting non-profit organizations dedicated to promoting social development in areas such as social activities, culture, youth work, sports, and environmental activities.<\/p>\n<p>&#8220;It&#8217;s definitely reassuring that Paf&#8217;s strong performance has allowed us to allocate a total of \u20ac31 million.&#8221; <\/p>\n<p>Four meters,&#8221; Chairman Jan-Mikael von Schantz announced. &#8220;The staff has performed exceptionally well this past year, and the board conveys its appreciation to all Paf employees who made this achievement possible.&#8221;<\/p>\n<p>Subscribe to the iGaming newsletter. <\/p>\n","protected":false},"excerpt":{"rendered":"<p class=\"text-justify mb-2\" >Paf achieved a record high income of \u20ac177.1 million (\u00a3150.8 million\/$191.4 million) in 2023, but the Scandinavian company also cautioned that increased gambling levies could affect its future earnings. Paf experienced another financially successful year in 2023, with earnings rising by 6.9% year-over-year. The company&#8217;s [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v22.8 (Yoast SEO v22.8) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Paf Hits Record High Income in 2023<\/title>\n<meta name=\"description\" content=\"Paf achieved record income in 2023, but warns of potential impact from increased gambling levies on future earnings.\" class=\"yoast-seo-meta-tag\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/luckycreek100nodepositbonus.icu\/2024\/06\/27\/paf-reports-record-high-income-in-2023-but-warns-of-tax-impact\/\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"og:type\" content=\"article\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"og:title\" content=\"Paf Reports Record High Income in 2023, but Warns of Tax Impact\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"og:description\" content=\"Paf achieved record income in 2023, but warns of potential impact from increased gambling levies on future earnings.\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"og:url\" content=\"https:\/\/luckycreek100nodepositbonus.icu\/2024\/06\/27\/paf-reports-record-high-income-in-2023-but-warns-of-tax-impact\/\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"og:site_name\" content=\"Immerse Yourself in a World of Casino Fun | Licensed &amp; Secure\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"article:published_time\" content=\"2024-06-26T21:23:45+00:00\" class=\"yoast-seo-meta-tag\" \/>\n<meta name=\"author\" content=\"admin\" class=\"yoast-seo-meta-tag\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" class=\"yoast-seo-meta-tag\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" class=\"yoast-seo-meta-tag\" \/>\n\t<meta name=\"twitter:data1\" content=\"admin\" class=\"yoast-seo-meta-tag\" \/>\n\t<meta name=\"twitter:label2\" content=\"Estimated reading time\" class=\"yoast-seo-meta-tag\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" class=\"yoast-seo-meta-tag\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/luckycreek100nodepositbonus.icu\/2024\/06\/27\/paf-reports-record-high-income-in-2023-but-warns-of-tax-impact\/\",\"url\":\"https:\/\/luckycreek100nodepositbonus.icu\/2024\/06\/27\/paf-reports-record-high-income-in-2023-but-warns-of-tax-impact\/\",\"name\":\"Paf Hits Record High Income in 2023\",\"isPartOf\":{\"@id\":\"https:\/\/luckycreek100nodepositbonus.icu\/#website\"},\"datePublished\":\"2024-06-26T21:23:45+00:00\",\"dateModified\":\"2024-06-26T21:23:45+00:00\",\"author\":{\"@id\":\"https:\/\/luckycreek100nodepositbonus.icu\/#\/schema\/person\/7fe3f8540cfe191b1464d5c1c2f0a7f0\"},\"description\":\"Paf achieved record income in 2023, but warns of potential impact from increased gambling levies on future earnings.\",\"breadcrumb\":{\"@id\":\"https:\/\/luckycreek100nodepositbonus.icu\/2024\/06\/27\/paf-reports-record-high-income-in-2023-but-warns-of-tax-impact\/#breadcrumb\"},\"inLanguage\":\"en-GB\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/luckycreek100nodepositbonus.icu\/2024\/06\/27\/paf-reports-record-high-income-in-2023-but-warns-of-tax-impact\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/luckycreek100nodepositbonus.icu\/2024\/06\/27\/paf-reports-record-high-income-in-2023-but-warns-of-tax-impact\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Homepage\",\"item\":\"https:\/\/luckycreek100nodepositbonus.icu\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Paf Reports Record High Income in 2023, but Warns of Tax Impact\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/luckycreek100nodepositbonus.icu\/#website\",\"url\":\"https:\/\/luckycreek100nodepositbonus.icu\/\",\"name\":\"Immerse Yourself in a World of Casino Fun | Licensed &amp; Secure\",\"description\":\"Stay informed and maximize your gambling experience through our regularly updated news, comprehensive reviews, and expert articles. 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