Paf enters Italian market with Winga acquisition

Paf has become the latest egaming firm to enter the Italian online gaming market after the Åland-based firm struck a deal to acquire Milan-based gaming operator Winga.

Winga owns and operates the winga.it domain which offers casino, poker and bingo products and the Italian television channel Winga TV, which broadcasts daily live roulette games across Italy’s digital television networks.

Paf intends to operate Winga as a wholly owned subsidiary of the Paf group and will expand the product range under the brand to include additional casino games, while also hinting at a possible sportsbook launch “in the next few years”.

Winga, which was founded in 2010 and currently has a headcount of 27, achieved total revenue of around €10m last year.

It will continue to trade under its existing brand and domain and Anders Ingves, chief executive at Paf, said the acquisition formed part of his firm’s “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,” Ingves said.

Winga was previously owned by Italy-based multimedia and digital entertainment conglomerate Buongiorno SpA.

While the Italian market has reported strong growth in recent months, a number of smaller operators such as mybet and PKR have withdrawn from the country citing tough competition and stringent product restrictions.