The Finnish state-owned gaming monopoly, Veikkaus, has made significant progress in expanding its digital and international gaming business during the first half of 2024.
The company has doubled its business development investments as it prepares for the transition to a partial multi-license gaming system, set to take effect in Finland in 2027 under the new Gaming Act.
Veikkaus' subsidiary, Fennica Gaming, has seen notable growth, signing three major contracts in Brazil, France, and the State of Virginia, USA. With 15 contracts signed, 10 of which are already in production, the company is strengthening its presence across three continents and gearing up for further expansion.
During this period, the domestic gaming margin declined by 21%, impacted by mandatory identification for physical chip games, introduced in the spring of 2023, and a 44% drop in scratch card revenues following the implementation of mandatory identification at the start of 2024. However, Veikkaus has seen an increase in registered customers, reaching 2.5 million, and a greater share of digital channels, now accounting for 60.5% of total gaming revenues.
Financially, Veikkaus' operating income for the first half of 2024 amounted to €483.8 million, a 6.8% decrease from the previous year. Operating profit also fell by 20.4%, amounting to €246.9 million, affected by significant investments and an increase in the lottery tax, which rose from 5% to 12%.
Regina Sippel, CFO of Veikkaus, noted that "the upcoming change in the gaming system is a great opportunity for Veikkaus. We will continue to invest in developing our business and delivering the best customer experience in the industry."
18+ | Juegoseguro.es – Jugarbien.es
