Paf
Paf is a government-owned gambling operator based in the autonomous Finnish region of Åland.
Last updated August 26, 2026
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Overview
Paf, formally Ålands Penningautomatförening, is a government-owned gambling operator established in 1966 in the autonomous Finnish region of Åland. It was created by a group of Åland non-profit organizations to operate gaming activities under the region's gambling framework and to direct resulting surplus toward public-benefit associations, charitable causes, and other socially beneficial purposes. This public-benefit structure remains central to the organization's identity: the Government of Åland and an independent allocation council distribute Paf's surplus to eligible recipients, and the company states that more than €527.9 million has been distributed since its foundation. Paf's authorization covers several forms of gambling connected with Åland. Its activities include land-based gaming, particularly slot machines on Åland; gambling facilities on passenger vessels operating from the region; and online gambling offered to customers in regulated European markets. The company began operating on Åland-registered ferries in the early 1970s, extending its presence beyond the islands and into the Baltic Sea and surrounding Nordic maritime routes. It entered online gaming in 1999, a move that transformed Paf from a primarily regional and vessel-based operator into a digital gaming business. The Paf brand is used across multiple national and product-specific websites. Core consumer services include Paf.com, Paf.se, Paf.es, and Paf.ee. In Sweden, Paf has also operated brands such as SpeedyBet.com, SpeedyCasino.com, X3000.com, GoldenBull.se, 1x2.se, and CasinoEpic.se. Its Spanish portfolio has included GoldenBull.es, SpeedyBet.es, and PiñataCasino.es, while its Latvian operations have included 11.lv, PafBet.lv, and X3000.lv. Paf has additionally provided the gaming platform for mycasino.ch in Switzerland through a partnership with Grand Casino Luzern. The company has pursued expansion and partnerships outside Åland. In 2015, it opened Casino Sunborn in Gibraltar together with Sunborn Hotel. That casino was sold to Admiral in 2018. Paf has also emphasized responsible gambling as a differentiator. In 2018, it introduced a mandatory annual customer loss limit, described as the first such measure by an international gaming company. The initial ceiling was €30,000 per customer and was subsequently reduced. The limits described for 2026 are €15,000 for customers aged 25 and above, €6,000 for customers aged 20 to 24, and €1,800 for customers aged 18 to 19. Paf has stated an ambition to reduce the highest limit further. Paf's history also includes regulatory and compliance challenges. In 2021, Finland's Supreme Court imposed a €250,000 community fine in a case concerning negligent money laundering. The case forms an important part of the operator's compliance record. Alongside this, Paf has continued to publicize environmental goals. In 2024, it announced a commitment to reach net-zero greenhouse-gas emissions by 2040, with the target validated by the Science Based Targets initiative. The same year, €3 million from Paf's surplus was allocated by the Government of Åland to the Olena Zelenska Foundation for the restoration and equipment of school shelters in Ukraine. Overall, Paf combines regulated gambling operations, a multi-market online portfolio, maritime distribution, and a formal public-benefit surplus model.
History
Paf was founded in 1966 as Ålands Penningautomatförening by several non-profit organizations in Åland. The founding participants included Folkhälsan på Åland, Rädda Barnen, the Finnish Red Cross, and the Dagens Barn foundation. The organization was established within Åland's distinctive public-benefit gambling framework, under which gaming operations could generate funds for associations, charitable work, and other public-interest purposes. During its first years, Paf developed a physical gaming presence on Åland. In the early 1970s it began operating gambling activities on ferries registered in Åland. This maritime channel became a defining part of the business, allowing Paf to serve passengers on vessels operating in the Baltic Sea and nearby Nordic sea routes. Alongside vessel operations, the company maintained land-based gaming on the islands, including slot machines. Paf entered the internet-gambling market in 1999 by launching its first online games. Online distribution gradually became a major part of the company, enabling it to operate consumer-facing gambling websites in multiple regulated European markets. The brand portfolio expanded beyond the core Paf name and came to include country-specific services such as Paf.com, Paf.se, Paf.es, and Paf.ee. Additional brands were operated in Sweden, Spain, and Latvia, allowing Paf to tailor product offerings and market identities to local conditions. The company also pursued physical and partnership-based international expansion. In 2015, Paf and Sunborn Hotel opened Casino Sunborn in Gibraltar. The casino was later sold to Admiral in 2018, marking a retreat from that particular jointly operated venue while leaving Paf's broader online and maritime activities intact. In Switzerland, Paf provided the gaming platform for mycasino.ch in partnership with Grand Casino Luzern, extending its role beyond direct consumer brands into technology and operating infrastructure. Responsible gambling became increasingly prominent in Paf's public strategy. In 2018, the company introduced a mandatory annual loss limit for customers, initially set at €30,000. Paf described the measure as a first among international gaming companies. The limit was subsequently lowered in stages, with different ceilings applied according to age group. The policy reflects an attempt to place a formal upper boundary on customer losses rather than relying exclusively on voluntary tools or customer-initiated controls. Paf has also stated that it would like to reduce the highest annual limit further. Paf's compliance history includes a significant legal case. In 2021, Finland's Supreme Court imposed a €250,000 community fine in a negligent money-laundering case. The judgment is an important part of the company's regulatory record and illustrates the compliance obligations associated with operating across several jurisdictions and channels. The public-benefit function has continued throughout Paf's development. According to the company material summarized in the reference sources, more than €527.9 million had been distributed through the Åland surplus-allocation system since 1966. In 2024, the Government of Åland allocated €3 million from Paf's surplus to the Olena Zelenska Foundation for school-shelter restoration and equipment in Ukraine. Paf also announced in 2024 that it was committing to net-zero greenhouse-gas emissions by 2040, with the goal validated by the Science Based Targets initiative. These initiatives show how Paf's current identity combines regulated gambling, responsible-gaming policies, environmental commitments, and redistribution of operating surplus for public benefit.
- 2024
Net-zero target announced
[1]Paf announces a commitment to reach net-zero greenhouse-gas emissions by 2040, validated by the Science Based Targets initiative.
- 2024
Surplus supports Ukrainian school shelters
[1]The Government of Åland allocates €3 million from Paf's surplus to the Olena Zelenska Foundation.
- 2021
Supreme Court money-laundering judgment
[1]The Supreme Court of Finland imposes a €250,000 community fine in a negligent money-laundering case involving Paf.
- 2018
Mandatory annual loss limit introduced
[1]Paf introduces a mandatory annual customer loss limit, initially set at €30,000.
- 2018
Casino Sunborn is sold
[1]Paf sells Casino Sunborn in Gibraltar to Admiral.
- 2015
Casino Sunborn opens in Gibraltar
[1]Paf and Sunborn Hotel open Casino Sunborn in Gibraltar.
- 1999
First online games launch
[1]Paf enters online gambling with its first internet games.
- 1970
Operations begin on Åland-registered ferries
[1]Paf begins operating gambling activities on Åland-registered passenger vessels in the early 1970s.
- 1966
Paf is established in Åland
[1]Ålands Penningautomatförening is founded by a group of Åland non-profit organizations to conduct gambling activities under the region's public-benefit framework.
Products and positioning
A publicly owned, regulated European gambling operator positioned around Åland's public-benefit surplus model, responsible gambling controls, and a multi-channel presence spanning online gaming, passenger vessels, and land-based gaming.
Online gambling · 1999
Paf online gambling
Paf's online business provides gambling services through country- and market-specific websites, including casino games, sports betting, and other digital gaming products where permitted by local regulation. Its main consumer identities include Paf.com, Paf.se, Paf.es, and Paf.ee. The online operation is the principal channel through which Paf serves customers beyond Åland and the passenger-vessel environment.
Maritime casino and gaming · 1970
Passenger-vessel gaming
Paf operates gambling facilities on passenger vessels connected with Åland, particularly on routes in the Baltic Sea and surrounding Nordic waters. The business originated in the early 1970s on Åland-registered ferries and remains one of the company's distinctive distribution channels. It combines physical casino and gaming activity with the travel and entertainment environment of passenger ships.
Slot-machine gaming · 1966
Land-based gaming
Paf's land-based operations include slot machines and other gaming activity on Åland. These activities are conducted under the region's gambling framework and sit alongside the company's online and maritime channels. Revenue from the overall operation contributes to the surplus distributed for public-benefit purposes.
Gaming platform services
mycasino.ch platform
Paf provides the gaming platform for mycasino.ch in Switzerland through a partnership with Grand Casino Luzern. This arrangement represents Paf's role as technology and platform provider in addition to its direct operation of consumer-facing gambling brands.
Controversies
Brand decisions
2024
Net-zero emissions commitmentStrategyBackground
Paf announced an environmental target as part of its sustainability strategy.
Action taken
The company committed to achieving net-zero greenhouse-gas emissions by 2040, with the target validated by the Science Based Targets initiative.
Aftermath
The commitment added a climate-transition objective to Paf's wider responsible-business agenda.
2018
Introduction of a mandatory annual loss limitStrategyBackground
Paf introduced a formal annual ceiling on customer losses as part of its responsible-gambling policy.
Action taken
The initial mandatory limit was set at €30,000 per customer and was later reduced by age group.
Aftermath
The policy became a defining part of Paf's responsible-gambling positioning. The limits described for 2026 are €15,000 for customers aged 25 and over, €6,000 for customers aged 20 to 24, and €1,800 for customers aged 18 to 19.
2015
Opening of Casino SunbornM&ABackground
Paf expanded into a physical casino venture outside Åland in cooperation with Sunborn Hotel.
Action taken
Paf and Sunborn Hotel opened Casino Sunborn in Gibraltar.
Aftermath
The casino was sold to Admiral in 2018.
Recent events
- 2025
Olena Zelenska visits Åland in connection with Paf-funded donation[1]
Other
Ukraine's First Lady Olena Zelenska visited Åland in connection with the donation supporting school shelters in Ukraine.
- 2024
Paf announces a 2040 net-zero emissions commitment[1]
Other
Paf announced a target of achieving net-zero greenhouse-gas emissions by 2040, with the target validated by the Science Based Targets initiative.
- 2024
Åland allocates Paf surplus to Ukraine school-shelter project[1]
Other
The Government of Åland allocated €3 million from Paf's surplus to the Olena Zelenska Foundation for the restoration and equipment of school shelters in Ukraine.
Sources3 sources
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