Net Entertainment signs license agreement with Nordic online gaming dominant – Paf
Net Entertainment has signed a four year license agreement with Ålands
Penningautomatförening, Paf, for delivery of its award winning CasinoModule.
Through the agreement Net Entertainment will further tap into the Nordic market
around the Baltic Sea, where Paf is one of the largest operators and also be a
part of Paf’s internationalisation route now being executed.
“We are delighted to have reached an agreement with such a prominent and
established operator as Paf. The agreement further solidifies Net
Entertainments position as a leading gaming software supplier and is a major
milestone for our continued growth. The countries around the Baltic Sea is a
large and important market for online gaming yet controlled by a handful of
operators where Paf is one of the largest” says Johan Öhman, CEO at Net
Entertainment.
Under the terms of the agreement, Net Entertainment will provide Paf with both
its download and browser based version of CasinoModule™. A full suite of market
leading casino games coupled with an administration tool will allow Paf to
effectively manage and maximize the potential of its online casino operations.
Founded in 1967, Paf is a gaming entertainment operator with an Åland
government granted gaming license that develops and operates gaming both online
and offline in selected markets. Paf’s online operation was launched in 1999
and has today well over 500.000 registered players. In 2007, the online
operation generated a gross gaming yield of 66 million Euro.
“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. After extensive review of available options I am
very confident that we will gain the competitive edge needed to further
strengthen our position in existing markets as well as succeeding with
extending our operation throughout Europe” says Lars Porko, CEO at Paf.
The parties strive to launch the casino during the second quarter 2009.
Net Entertainment develops digitally distributed systems for Internet gaming.
The core product, CasinoModule™, is a complete gaming platform that comprises a
high number of browser based games as well as a powerful administration tool.
Customers are offered a system solution that is adapted to each customer and is
easily integrated with their existing websites. Net Entertainment licenses the
CasinoModule™ on a royalty basis based on the revenues the product generates.
Net Entertainment is listed on NASDAQ OMX Stockholm (NET-B). More information
about Net Entertainment is available on www.netent.com.
For more information about Net Entertainment please contact;
Johan Öhman, CEO; Phone +46 8 55 69 67 05, Cell; +46 70 486 77 15,
johan.ohman@netent.com
For more information about Paf please contact;
Thomas Lundberg, Director, Markets & Sales; Phone +358 40 591 3159 or
Stefan Rumander, Director, Internet Games; Phone +358 457 553 6641,
stefan.rumander@paf.com