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Italy – Paf sells its business in Italy to LeoVegas

By - 22 February 2017

The Åland-based money gaming company Paf has sold Italian Winga in its entirety to Maltese-Swedish gaming company LeoVegas.

Paf bought Winga in January 2015 from Buongiorno SpA, a part of the DOCOMO business group. Winga has its main offices in Milan. The organisation employs 33 persons and offers clients a complete range of money gaming products. Roughly one half of Winga’s profit is generated from live casino games in studio surroundings and from their unique live casino product broadcasted on the Italian television network and Sky TV.

Paf CEO Christer Fahlstedt said: “The Italian market is not aligned with Paf’s future strategy. We received a generous offer from the buyer, and the time was right to sell. The transaction does not mean that Paf is lowering its ambitions when it comes to growing internationally. We aim to grow primarily in markets that we know thoroughly as well as markets where Paf can be expected to become profitable in the long term.”

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