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Paf Acquisition of Winga
Saturday January 10,2015 : P.A.F. ACQUIRES ITALIAN ONLINE GAMBLING OPERATOR
Acquisition of Winga.it will assist move into Italian market.
In an initiative designed to facilitate its entry into the Italian marker, the Aland-based online gambling group Paf has acquired the four-year-old online gambling operator Winga.it from mobile content provider Buongiorno.
The consideration paid in terms of the deal, which includes television channel WingaTV, has not been disclosed. WingaTV is integrated with the company's online gambling offers and broadcasts daily through both the Italian digital terrestrial television network and online streaming.
Winga is based in Milan, Italy and uses Playtech gaming software. The company generated Euro 10 million in revenues last year and employs just short of thirty people.
Paf CEO Anders Ingves said this week:
“The acquisition of Winga is part of our strategy of continued internationalisation and expansion. 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.”
Winga CEO Assen Diakovski said he was bullish about the future: “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,” he said in a statement.
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