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Industry
September 4, 2024
Veikkaus to Renegotiate Contracts as Finland Readies Licensing Model
Veikkaus, Finland’s gambling monopoly, commented on the country’s upcoming shift to a licensing model. As the operator previously warned, the change would likely lead to job cuts. As a result, Veikkaus is set to renegotiate contracts with almost 620 employees. Veikkaus to Renegotiate Up to 620 Contracts Finland announced its intention to shift from the […]
Industry
August 12, 2024
Finnish Government Advised to Sell Veikkaus Monopoly Ownership
According to local consultant Jari Vähänen, Veikkaus, the Finnish government-owned betting agency holding a monopoly in the country, could gain an important competitive advantage over licensed operators. This could occur in 2027, the year that will mark the legalization of the online gambling market in Finland. Finnish Gambling Consultants (FGC) partner Vähänen implied the government […]
Industry
May 16, 2024
Veikkaus Exec Predicts Finland Will Issue Licenses in September 2026
Currently, Finland’s gambling market operates under a monopoly model. This means that all gambling activities, including sports betting and iGaming, are offered by Veikkaus, the state-owned gambling operator. However, amid talks about a major restructuring of the sector, including a shift from gambling monopoly, the gambling industry is expected to look quite different in a […]
Business
March 8, 2024
Veikkaus Posts 2023 Results in Line with Expectations
The Finnish state-owned and monopoly operator, Veikkaus, released its latest financial report, uncovering details regarding its performance throughout 2023. Overall, Veikkaus Group’s sales revenue last year halted at €1.03 billion ($1.13 billion). This result, compared to the 2022 figure, showed a slight 3.5% decrease year-over-year. On the other hand, profits for the fiscal year reported […]
Casino
February 22, 2024
Playtech Agrees to Deliver Live Casino Games for Veikkaus
The leading supplier of content and technology, powering online gambling operators across the globe, Playtech, confirmed a strategic partnership with the Finnish state-owned and monopoly operator, Veikkaus. The company disclosed details regarding the new collaboration on Thursday. Under the terms of the new agreement, Playtech agreed to power Veikkaus’ offering by delivering an extensive range […]
Industry
January 2, 2024
Finland’s Veikkaus Introduces New Identification Requirements
Veikkaus, Finland’s state-owned gambling monopoly, has officially launched its new identification requirements. As announced in early November, the monopoly will now check the identities of players for all games. In line with the identification protocols implemented for coupon games earlier in 2023, Veikkaus will now verify the identities of all of its players. The measure […]
Industry
November 14, 2023
Veikkaus Announces Major Restructuring Amidst Gambling Monopoly Shift
In a strategic move ahead of the impending end of its gambling monopoly in Finland, Veikkaus, the state-owned gambling operator, has confirmed a significant restructuring plan that includes job cuts and operational changes. Veikkaus Implements Sweeping Changes, Including Casino Tampere Closure Veikkaus revealed that approximately 25% of its workforce, totaling 825 employees, will be affected […]
Lottery
November 7, 2023
Veikkaus Confirms Plans for Identity Checks for Scratch Games
Veikkaus, Finland’s gambling monopoly, announced its plans to implement changes related to the purchase of scratch cards, strengthening its efforts toward responsible gambling. On Tuesday, the monopoly confirmed that starting from January 1, 2024, customers who purchase scratch cards for Ässä and Casino lottery will have to identify themselves. Showing identification would be needed not […]
Industry
October 26, 2023
Finland’s Veikkaus Supports Licensing Model Plans but Layoffs May Be Necessary
Finland might be on the way to introducing a licensing model for online gaming. The country, which is the only EU member to still maintain a monopoly over iGaming, just broke ground by introducing a legislative plan to transition to a licensing system. Finland’s online gaming monopoly, Veikkaus, commented on the matter, expressing its support […]
Industry
September 6, 2023
Veikkaus to Undergo Restructuring ahead of the Upcoming Reforms
Veikkaus, a Finnish entertainment body currently acting as a gambling and lottery monopoly, is preparing for major system changes that will see a licensing model introduced in the country. Soon, Finland will begin the process of expanding its gambling industry, effectively putting an end to Veikkaus’ hegemony over the market. Finland’s government decided to terminate […]