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Better Collective Announces Intention to Dual List its Shares on Nasdaq Copenhagen

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Better Collective has announced its intention to carry out a listing of the Company’s shares on Nasdaq Copenhagen (Dual Listing) in addition to the current listing on Nasdaq Stockholm. If carried out, the Dual Listing is expected to occur during the fourth quarter of 2023. The Dual Listing is subject to publication of an exemption document (summary) by the Company, approval by Nasdaq Copenhagen of a listing application, fulfillment of other customary listing conditions, as well as prevailing market conditions. No offering of shares will be carried out in connection with the Dual Listing, and the contemplated Dual Listing will not have any impact on the total number of shares outstanding in the Company.

Jesper Søgaard, Co-founder & CEO of Better Collective, said: “Being a Danish-incorporated company and with our headquarters in Copenhagen, dual listing in Denmark is a natural next step for Better Collective. Since the Swedish IPO in 2018, we have significantly grown the business adding value for our shareholders, while putting forward a new vision to become the leading digital sports media group. Combined with the fact that we experience an increased interest in our company from both current and potential institutional investors in Denmark, we believe now is the right time to dual list in Denmark.”

Jens Bager, Chairman of the Board of Better Collective, said: “Better Collective has delivered significant growth both before and after the IPO in 2018. The company is stronger positioned today than ever before and has embarked on an ambitious journey to become the leading digital sports media group. The listing in Sweden five years ago has been instrumental in contributing to the development of the business as it stands today, and now it is natural to dual list in Denmark where the company has its headquarters. The entire management team led by the founders of the company has managed to build a resilient business and not least a strong organization that will enable Better Collective to further elevate its footprint within the digital sports media world. Now we look forward to initiating dialogue and inviting more Danish investors to take part in that journey.”

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Veikkaus Appoints Jyri Lassi as New General Counsel

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Veikkaus has appointed Jyri Lassi as its new General Counsel and a member of the company’s management team. Lassi joins Veikkaus from electric vehicle charging service company Virta Global.

Lassi will start at Veikkaus on September 1, 2025. He will replace Hanna Kyrki, who is moving to Summa Defence, and whose last working day at Veikkaus will be at the end of July.

Lassi’s appointment strongly supports Veikkaus’ strategy to be a modern and competitive gambling company in the coming years, successful both nationally and internationally. Finland is moving to a partial multi-license market during 2026. After the change in the law, gambling companies other than Veikkaus will also be able to apply for a license in Finland for, for example, sports betting and online casinos.

“Jyri Lassi has very diverse work experience in responsible and challenging legal positions in internationally operating companies. I am convinced that with his expertise we will move forward in a determined and controlled manner in the changing operating environment of the gambling industry,” Olli Sarekoski , CEO of Veikkaus, said.

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Before Virta Global, Lassi has worked in management positions at Varjo Technologies, PayPal and Nokia, among others.

“Veikkaus is in an interesting situation as its monopoly position in Finland is being dissolved. The competitive situation offers the company great opportunities to grow and develop into an even more significant player, even internationally. It is a privilege to soon be part of that journey and to be able to influence Veikkaus’ new direction together with other employees of the company,” Lassi said.

The post Veikkaus Appoints Jyri Lassi as New General Counsel appeared first on European Gaming Industry News.

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partnerships

Octoplay secures a partnership with Danske Spil in Denmark, Expanding Nordic Market Presence

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Octoplay continues its rapid European expansion by partnering with Danske Spil, Denmark’s state-owned gambling operator. This strategic partnership brings Octoplay’s entire premium portfolio to another major Danish operator, significantly expanding the company’s footprint in the country and further strengthening its position across the Nordic region.

This partnership with Danske Spil reinforces Octoplay’s growing reputation in Europe’s regulated markets, as tier-one operators continue to seek out the company’s premium content with its proven performance metrics.

The collaboration follows recent notable launches with state-owned Svenska Spel in Sweden, Dutch market leader JACKS.NL, and Rank Group in the UK. It also adds another key Nordic market leader into Octoplay’s expanding list of partnerships.

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Ralitsa Georgieva, Director of Business Development at Octoplay, states: “Partnering with Danske Spil, Denmark’s most established and trusted gaming brand, represents a significant milestone in our European expansion. This aligns perfectly with our approach of securing direct partnerships with leading operators in each market we enter. With their deep roots and nationwide recognition, Danske Spil provides an exceptional platform to showcase our premium content to Danish players.”

Simon Hoffmann Riis, Senior Games & Analytics Manager at Danske Spil, comments: “We are delighted to welcome Octoplay as a trusted partner whose premium portfolio has consistently proven itself across European markets. Their data-driven approach to creating quality content aligns perfectly with our commitment to offering Danish players the most engaging and responsible entertainment experience possible.”

With active licenses in 10 regulated markets across Europe, the integration adds to Octoplay’s impressive commercial growth, which saw the company complete an average of five integrations per month throughout 2024 and agree commercial deals with over 80 operators. This European expansion runs parallel to the company’s North American growth, where Octoplay recently secured provisional licenses in Michigan and New Jersey, building on its approach of rapid market entry, strategic partnerships with market leaders, and consistent game innovation.

The post Octoplay secures a partnership with Danske Spil in Denmark, Expanding Nordic Market Presence appeared first on European Gaming Industry News.

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Financial reports

Paf’s results for 2024

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It was a strong year

The Nordic gaming company Paf performed well in 2024, despite a slight decline in earnings. Paf’s open customer segment demonstrates that it is possible to be a sustainable entertainment company with decisive loss limits to prevent excessive gambling.

The Paf Group’s turnover increased from €177.1 million to €183.0 million in 2024, a rise of 3%. However, earnings decreased from €55.1 million to €54.3 million.

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“We had a strong 2024, and we can be really pleased with the year. The trend of increased gambling taxes is bringing down earnings, but this was something we were prepared for,” said Christer Fahlstedt, CEO.

Paf’s profit decreased by 1%, primarily due to increased gaming taxes. Paf paid €11.8 million more in taxes in 2024 than in 2023. In particular, the lottery tax increased in Finland from 5% to 12%, and in Sweden from 18% to 22%.

“Paf is well equipped to handle tax increases thanks to our customer base, which generates long-term income from a large number of players who play for smaller amounts. Taxes on gaming companies are necessary, so that other gaming companies also can contribute back to society,” says Christer Fahlstedt.

21.5 million euros in Paf funds

The annual distribution of Paf funds will be €21.5 million. These funds are used for the benefit of society, including social activities, culture, youth work, sports, environmental activities, and more.

“The level of Paf funds that can be maintained year after year, combined with the voluntary measures taken in relation to responsible gaming towards customers, is impressive. There is no other company in the industry that is currently achieving anything similar,” says Jan-Mikael von Schantz, Chairman of the Paf Board.

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Entertainment on sustainable terms

In 2024, Paf lowered the loss limit for young customers aged 20–24. Then, in March 2025, the loss limit for young customers was reduced again, and at the same time, the general loss limit for all age groups was lowered to €16,000.

“We want to be a sustainable entertainment company, and our results show that it is possible to achieve strong results without compromising on responsible gaming. I am genuinely surprised and a little disappointed that our state-owned counterpart Veikkaus in Finland has chosen to raise its loss limit this spring. But we are going our own way and they are going in a different direction,” says Christer Fahlstedt.

Open customer segments 2017–2024

The table below shows the development of gaming in different customer segments from 2017 to 2024. The red segment has been at zero in recent years, as Paf’s loss limits have prevented larger losses. The white segment shows the percentage of winning players who ended the year in profit.

“We are increasing revenue from the green segment by 12.3%, which benefits our development towards more sustainable revenue. We would like to see more operators be as open and transparent with their numbers as we are,” says Christer Fahlstedt.

All the numbers in Paf’s customer segments have been reviewed by auditors as part of the financial statement audit.

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Read Paf’s full Annual Report for 2024 on aboutpaf.com/corporate/annual-reports.

The post Paf’s results for 2024 appeared first on European Gaming Industry News.

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