Paf expands into Italy with Winga acquisition
Åland Islands-based gaming company Paf has completed the acquisition of Italian online gaming operator Winga in a move that will expand its services into the European country.
Under the deal, the terms of which were not disclosed, Winga will become a subsidiary of the Paf Group but will continue its activities under the Winga brand.
Winga, which operates within the regulated Italian market using local gaming licence, offers a range of online, casino and bingo products via its website and television channel.
Headquartered in Milan, Winga generated revenue of approximately €10 million ($11.8 million) in 2014.
“The acquisition of Winga is part of our strategy of continued internationalisation and expansion,” Paf chief executive officer Anders Ingves said.
“We see great potential in Winga’s well-established operational base in combination with Paf’s international industry experience and broad range of products.
“As a first step, we will expand Winga’s product range to include additional casino games and betting in the next few years.”
Assen Diakovski, chief executive officer of Winga, added: “It’s exciting and challenging to lead Winga into a new era.
“Our market niche within casino TV in combination with Paf’s international gaming expertise makes me confident that together we can grow the business in Italy over the next few years.”
Paf has acquired Winga from Buongiorno SpA, a multinational group of companies focused on multimedia and digital entertainment.
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