Online Gambling Set to Expand in Ã…lands

Published Monday, July 06, 2009 -

Ålands Penningautomatförening (Paf) and NetEntertainment, the online gambling software provider from Stockholm Sweden, have recently announced a four year agreement that signals the near launch of a downloadable and browser-based online casino. Paf is a Finnish company that operates a legal gambling monopoly on the semi-autonomous Finnish Aland islands. Paf also has a web based gambling and gaming operation, in addition to operating and maintaining casino and gaming activities on a large number of cruise ships. The purpose of PAF is to generate funds for humanitarian and social causes on the Åland Islands. The organization also has subsidiaries in Sweden and Estonia.

Net Entertainment is a leading supplier of digitally distributed gaming software that provides reliable and secure casino games. Established in 1996 the company has a significant presence in the gaming market. The firm employs approximately 160 people most of which are young and full of new ideas.

Originally the agreement was announced back in March of 2009. The deal will enable Paf to further expand into the Nordic market around the Baltic Sea. It is one of the largest operators in that part of the world. The terms of the arrangement state that, Net Entertainment will provide Paf with its downloadable and browser based version of CasinoModule. A full suite of casino games along with administration tools will let Paf effectively manage and maximise the potential of its online casino operations.

Johan Öhman, Chief Executive Officer,for Net Entertainment, said, "The countries around the Baltic Sea are a large and important market for online gaming yet controlled by a handful of operators where Paf is one of the largest" With over 500,000 registered players and gross revenues of at least 66 million euros last year the Paf organization is very successful thus far.

Lars Porko, Chief Executive Office at Paf, said, "We have made an important and strategic decision in choosing Net Entertainment as partner for our online casino operation in order to succeed with our internationalisation ambition,"

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