The two Swedish licensed gaming companies Speed Ltd. and Speedy Originals Ltd. have been acquired by Åland-based gaming operator Paf from Hero Gaming.
The agreement means that Hero Gaming sells the two subsidiaries Speedy Ltd. and Speedy Originals Ltd., which each have a Swedish license, as well as the brands Speedycasino, Speedybet, and Speedyspel. With this purchase, Paf will become one of the six largest gaming companies in Sweden.
Founded in 2013, Hero Gaming has been performing very well with the Speedy iGaming brands. The CEO of Hero Gaming said the deal is a great opportunity for Paf to grow within the global market.
“We see the deal as a good win-win strategy, in that now Hero Gaming can focus more on the global market. It feels good that it is Paf who is buying our Swedish business, they have a long-term strategy and they are well-known for their responsible gaming work,” says Tomas Bäckman, CEO of Hero Gaming.
Paf has confirmed its ambition to be a leader company in Sweden. SpeedySpel, SpeedyBet, and SpeedyCasino will continue to operate under their current brands in the Swedish market.
“We want to grow in Sweden and we have a determined ambition to be a leading player in the Swedish licensed market. This acquisition shows that we have faith in the future of the Swedish market and we also have the capacity to acquire the companies that strengthen us,” says Paf’s CEO Christer Fahlstedt.
The loss limit will be implemented
The three Speedy gaming sites will implement Paf’s tough guidelines for responsible gaming. Among other things, Paf’s annual mandatory loss limit of EUR 20,000 / SEK 200,000 will be introduced.
“We do not have an interest in taking over the gaming sites unless their customers are largely at a gaming level that we accept. But of course, customers will notice that we value responsible gaming very strongly, to the same level of responsible gaming that we have on Paf’s other gaming sites,” says Christer Fahlstedt.
Paul Collins is a freelance journalist from Newport, Wales. Paul has worked within the Gaming Industry since 2009. Paul focuses mainly on sports but also covers regulatory and compliance news pieces.