Veikkaus, Finland’s state-owned operator, has set its sights on diversification and expansion as it prepares for a huge paradigm shift in the local gaming sector.
With the launch of a licensed online betting and gaming market scheduled to take place in 2027, the operator detailed in its full year trading report that it will look to move beyond its current monopoly in Finland by seeking to enter more global markets.
A global mindset
To some extent, it is already gaining traction through its Fennica Gaming B2B studio, which has a presence in 17 markets across three continents. Still, the operator’s FY25 report potentially hinted at ambitions to turn Veikkaus itself into a global gaming brand.
“In line with our vision, we want to evolve from a national gaming company into a successful player also on the international stage and strengthen our competitiveness in an increasingly global market,” the report stated. “Our goal is to be a respected and successful international money gaming group by 2030.”
Perhaps a state-owned company targeting a global expansion isn’t that far-fetched as some might view it as, given that Veikkaus will find itself competing with some of the biggest gambling companies in the world once the Finnish market becomes more liberalised on 1 July 2027.
Veikkaus itself stated that the new-look gambling framework will have far-reaching implications for the Finnish market, including shifts in public perception of gambling, increases in advertising, social responsibility requirements as well as overall competitiveness.
But how ready is the operator for an international expansion according to its FY25 results?
Sales revenue for the year ending December 2025 came in at €936m (£808m), down from €959m in the year prior. Operating profit was capped at €431m (FY24: €462m), while profit stood at €447m (FY24: €472m).
The most relevant highlight to the above question, however, were the verticals that the Veikkaus revenue was shared between.
Lottery games, which Veikkaus will retain its monopoly over even after 2027, brought in a total of €497m in revenue, representing 53.1% of the total revenue generated.
Land-based gaming, which includes slot machines and physical table games, came in at €142m, or 15.2% of the whole revenue. Meanwhile, online casino and betting games generated €292m – which equates to 31.2% of the total.
With lottery games currently being the bread and butter of Veikkaus, a global expansion would require a strategy that enables the operator to expand in markets where such products are in demand.
With an increase in competition across both online betting and gaming, Veikkaus will need to assess how it can continue to engage with bettors and, ultimately, create an elevated experience that allows it to stand out.