Hero Gaming announced the sale of two Swedish brands it owns. SpeedyCasino and Speedyspel have been under the Swedish gaming company for the past three years leading to immense revenue growth.
PAF agreed to acquire two gaming companies under Hero Gaming. Speedy Originals Ltd and Speedy Ltd collectively own three gaming sites. They are Speedyspel, Speedybet, and Speedy Casino. The platforms boast licenses from the Swedish gaming regulator.
PAF is keen on expanding its reach in Sweden as well as globally. The acquisition now takes the operator to the top six biggest gaming companies in the country. PAF is a gaming operator owned by the Åland Provincial Government.
The acquired sites will now move to implement the company’s universal loss limit capped at $23,757 annually. This is in a bid to create awareness around responsible gaming. But this deal will not interfere with the websites’ branding.
Christer Fahlstedt stated PAF doesn’t intend on taking over the new gaming sites. This is unless the customers on the platforms are at what they term as acceptable gaming levels. Fahlstedt also said customers will spot the company’s emphasis on responsible gaming. That means they will expect the company to offer responsible gaming even on the new acquisitions.
The PAF chief executive officer also added the acquisition of Hero Gaming’s casino brands demonstrates its confidence in the Swedish market. This is in addition to the company’s capacity to acquire leading brands in the industry.
Tomas Bäckman said PAF will have more opportunities on its lap after the acquisition. Bäckman also said the deal to offload the gaming brands will allow it to focus on offering technology solutions to various B2B partners around the world. But the company’s key focus will be non-European markets such as Latin America and Asia.
PAF’s revenue saw a 1.1% decline for the period between January and December 2020 to close at €113 million. This was from the €114.2 million recorded in 2019. But the company saw its online gambling revenue jump 18.8% year on year. The figure stood at €100.4 million.
The gambling operator credited the increase in revenue to its acquisition of Mandalorian Technologies. This acquisition deal was closed in February 2020. The acquired company raked €18.4 million in online revenue.
PAF cutting players’ loss limits was also a key factor in the company’s increase in internet revenue. The cut loss limit in 2020 per player stood at €25,000. This was from 2019’s limit set at €30,000. The company dropped the limit further in 2021 to sit at €20,000. This resulted in a 17% drop in average revenue per online player in 2020.