Finnish gaming operator Paf has acquired the Swedish family-owned company Bell Casino AB, marking a significant expansion of its shipboard operations. Bell Casino provides onboard gaming entertainment on approximately 50 vessels operating between Sweden, Germany, Poland, the Baltic countries, the United Kingdom, Ireland, and the Netherlands. Prior to the acquisition, Paf’s shipboard operations were present on 26 vessels, primarily in the Baltic and North Sea regions.

Following the acquisition, Paf will operate gaming entertainment across roughly 80 vessels. The fleet will host about 1,500 gaming machines and 450 arcade games, combining the scale of both companies’ operations. The deal officially integrated Bell Casino into the Paf Group on 1 June 2026.

Paf’s CEO, Christer Fahlstedt, highlighted the strategic importance of the acquisition, stating, “We are very pleased to bring this deal to a successful conclusion. The acquisition is strategically important for our Land & Ship business, as it gives us the right conditions to continue developing our operations over the long term.”

Retaining Bell’s Brand and Team

Bell Casino will continue operating under its existing brand and business model, preserving continuity for both employees and customers. The company employs 28 people, including founder Morgan Eliasson, who established Bell in 1973, and his son Marcus Eliasson. Morgan will continue with the company as a Senior Adviser, while Marcus will remain CEO.

Morgan Eliasson reflected on the transition: “Naturally, there is a sense of nostalgia in handing over a company that I have helped build since the very beginning. At the same time, I feel both reassured and confident about the future when Bell is a part of the Paf Group. Paf is a company in our industry with a long-term perspective and both feet firmly on the ground.”

The acquisition ensures that Bell’s operational model remains unchanged, maintaining service continuity onboard the vessels and supporting existing customer relationships.

Strategic and Commercial Benefits

The integration of Bell Casino provides Paf with several operational advantages. Lasse Danielsson, Chief Operating Officer for Paf’s Land & Ship division, emphasized the benefits: “Our combined business gives us scale advantages when investing in modernisation and new technology. Together with Bell’s business, we will have the right foundation to continue investing and growing in the years ahead.”

Danielsson further noted that Bell complements Paf’s existing operations “both geographically and commercially,” extending the company’s reach into Western Europe and the United Kingdom. The expansion strengthens Paf’s position as a regulated operator with a dual presence in online gaming and onboard shipboard operations.

The acquisition is framed as a long-term strategic investment, distinct from Paf’s consumer-facing online growth plans. While financial details were not disclosed, the deal reflects Paf’s intent to bolster its Land & Ship business and create opportunities for modernization and operational development across European ferry routes.