For a third year in a row, Åland Islands-based gaming operator Paf has lowered its annual player loss limit by €5,000 (US$5.821) to €20,000 (US$22,384).
In 2018, Paf CEO Christer Fahlstedt with the newly appointed Chief Responsibility Officer Daniela Johansson launched the Finnish industry’s first mandatory player loss limit, setting a €30,000 per year benchmark, and lowered it to €25,000 in 2019.
The latest reduction is expected to cost the company €2 million to €3 million in annual revenues. However, according to SBC News, Paf says its operations will continue to be “earnings effective.” In 2019, for example, the company delivered a 4 percent increase in profits to €26 million.
“We are proud to have been able to lower our loss limit by as much as a third in just two years,” said Fahlstedt. “We see that our maximum limit effectively stops big-spending players and prevents the personal tragedies that can occur when huge amounts are lost.
“Paf is now lowering the loss limit further to show that it is possible to survive as a gaming company without income from the biggest big players.”
In April, Paf confirmed that it had chosen to reserve €40 million in dividends payments, which would be distributed to charities to “alleviate the negative effects of the coronavirus.”
