Paf Director: legal markets are ‘defenceless’, but we can solve it

Paf, the exclusive gaming operator in Finland's autonomous Åland region, has delivered record operating results while simultaneously raising concerns about the competitive imbalance between licensed and unlicensed operators. The company generated over €200 million in revenue in 2025, demonstrating strong market performance even as leadership voices frustration about the vulnerabilities facing regulated gaming businesses.

The company's assertion that legal markets are "defenceless" reflects a widespread industry complaint: licensed operators operate under strict regulatory frameworks, licensing fees, tax obligations, and compliance costs, while unlicensed platforms operate without such constraints. This structural disadvantage has become increasingly acute as digital technologies enable offshore and unregulated operators to reach players in regulated jurisdictions with minimal friction. Paf's leadership suggests that the current regulatory environment leaves compliant operators at a competitive disadvantage, a concern echoed by operators across Europe and beyond.

Despite these challenges, Paf has pursued an aggressive growth strategy, including a significant acquisition announced in June. This expansion signals confidence in the company's market position and suggests that record revenues have provided capital for strategic investments. The company's ability to grow while operating under strict licensing conditions demonstrates that profitability remains achievable for well-managed operators in regulated markets, even amid competitive pressures from unlicensed alternatives.

The company's public commentary on market deficiencies may also reflect advocacy efforts aimed at policymakers. By articulating the competitive disadvantages faced by licensed operators, Paf and similar companies are building a case for regulatory reforms—such as stricter enforcement against unlicensed platforms, adjusted tax structures, or enhanced player protections that could level the playing field. As regulators worldwide grapple with balancing consumer protection against operator viability, such industry perspectives will likely influence future policy discussions.