Paf has acquired Swedish gaming company Bell Casino AB, expanding its onboard gaming operations across European ferry routes.
Bell Casino provides gaming entertainment on approximately 50 vessels operating between Sweden, Germany, Poland, the Baltic states, the United Kingdom, Ireland and the Netherlands.
Prior to the acquisition, Paf’s onboard gaming operations were present on 26 vessels, primarily in the Baltic Sea and North Sea regions. Following the transaction, the combined operations will provide gaming entertainment on around 80 vessels, including approximately 1,500 gaming machines and 450 arcade games.
Bell Casino will continue to operate under its existing brand, business model and workforce. The company employs 28 people, including founder Morgan Eliasson, who established the business in 1973, and his son Marcus Eliasson.
Morgan Eliasson will remain with the company as Senior Adviser, while Marcus Eliasson will continue in his role as Chief Executive Officer of Bell Casino AB.
The acquisition extends Paf’s presence into additional ferry routes and destinations across Europe. Bell Casino AB officially became part of the Paf Group on 1 June 2026.
“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,” says Christer Fahlstedt, CEO of Paf.
“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,” says Lasse Danielsson, Chief Operating Officer, Land & Ship.
“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,” says Morgan Eliasson, founder of Bell Casino AB.
“Bell complements Paf’s existing business both geographically and commercially. I look forward to the positive opportunities and synergies that our combined operations can create,” says Lasse Danielsson.
