Italy central to Paf's 2015 growth strategy, CEO says
Anders Ingves says recently acquired Italy-facing Winga business at the heart of à land-based operator's plans to return to growth
à land-based operator Paf has placed the Italian online gambling market at the heart of its strategy to return its online business to growth this year, according to chief executive Anders Ingves.
Last month the operator reported a 45% year-on-year fall in profits for the 12 months ended 31 December 2014, while revenues from Paf.com also declined 11% to 73m during the year.
However, in an interview with eGaming Review, Ingves said he was confident the firm’s recent entry into the Italian market will help boost growth over the next few months.
“We bought [Italian gaming operator] Winga which we will grow the portfolio of this year and streamline some processes, with Paf learning things from Winga and vice versa,” he said.
“Right now we are focused on Italy and although we are looking at new markets to enter, we still need to make a decision on which one will be next,” Ingves added.
In December the operator entered the Italian online gambling market for the first time following its acquisition of Milan-based Winga which now operates as a wholly owned subsidiary of the Paf group.
Last year Paf was also the recipient of the award for most Socially Responsible Operator at the eGaming Review Operator Awards and despite new social responsibility measures hitting profits, Ingves said the operator would not change its business model.
“Our mission is to build profit which goes to the common good and we will do it in a responsible way,” he said.
“This means building long relationships with our customers which we do because it is also good for business,” Ingves added.