Finland’s state-owned gambling operator Veikkaus is restructuring ahead of the country’s move to a licence-based gambling market on 1 July 2027. The changes will remove 15 positions and create 17 new roles across data and artificial intelligence, business operations and finance.
Under the new Gambling Act, betting and online casino services will open to licensed operators. Veikkaus will retain exclusive rights to lotteries, scratchcards, physical gaming machines and land-based casino games. Therefore, the company is preparing to operate under two models simultaneously.
One part of the business will manage activities that remain under exclusive rights, while another will compete for customers in betting and online casino. Veikkaus began separating the two areas in May 2026 by creating two subsidiaries, one for exclusive operations and another for the future competitive market. It has also submitted applications connected to both sides of the new framework.
Negotiations over the restructuring are expected to last three weeks. Veikkaus is reallocating expertise toward areas it believes will become more important once competition begins, including data analysis, customer insight, product management, regulation, technology and commercial operations.
Finland’s gambling market will shift from monopoly to mixed competition
Until the end of June 2027, Veikkaus remains the only operator authorised to organise and market gambling in mainland Finland. From July 2027, licensed operators will be allowed to offer online money bingo, betting, slots and casino games.
Veikkaus will continue to control lotteries, scratchcards and physical slot and casino products. The Finnish Supervisory Agency will also take over licensing and supervisory responsibilities handled by the National Police Board.
Licence applications opened in March 2026, and by June the National Police Board had received 50 applications, most from foreign operators. The authority estimated processing would take around six months, while the application fee for 2026 was €29,000.
Veikkaus will pay around €1 billion in market-based compensation under its 10-year licence arrangement, including a significant upfront payment in 2026.
First-half performance gives Veikkaus a strong base before liberalisation
Veikkaus reported sales revenue of €471.3 million in the first half of 2026, up 1 per cent from €466.4 million a year earlier. Operating profit increased to €227.7 million from €220.6 million, while profit for the period rose to €234.2 million from €229.6 million.
Digital channels generated 64.5 per cent of gross gaming revenue, an increase of 3.6 percentage points year on year. The company had nearly 2.7 million registered customers at the end of June.
Those figures give Veikkaus a substantial customer base as it prepares for direct competition in digital betting and casino. The shift toward online gambling is also changing how the company invests.
Veikkaus has replaced its DraftKings sportsbook backend with OpenBet and appointed former Scientific Games executive Chris Armes as EVP of Gaming Technologies. The changes are intended to strengthen sportsbook infrastructure, scalability, product development and customer experience before the market opens.
Fennica Gaming expands Veikkaus beyond the Finnish market
Veikkaus is also increasing its international presence through B2B subsidiary Fennica Gaming. Their revenue rose 80.6% year-on-year to €10.3 million in the first half of 2026.
The business has entered Italy, Canada, Germany, Mexico and the Czech Republic and now operates across 21 markets on three continents. This expansion gives Veikkaus another growth route as its domestic monopoly changes.
The company is also preparing to apply for licences and upgrade more of its technology as part of the transition. Its B2B activity could become increasingly important as the competitive side of the Finnish market develops and Veikkaus looks for revenue outside its traditional domestic position.
Player protection will be tested as competition increases
Responsible gambling is a central part of Finland’s reform programme. The government has said the new system is intended to reduce gambling-related harm and improve the channelisation rate, meaning the proportion of gambling activity taking place with regulated operators.
Licensed companies will be required to follow responsible gambling rules, while customer identification systems will support gambling blockers, spending limits and self-monitoring tools. The framework is designed to give consumers protections across licensed services, which will become more important as international companies enter the market.
Veikkaus will enter that environment with strong brand recognition, millions of registered customers and growing digital revenue, but it will also face operators with established online casino and sportsbook products.
The restructuring shows the company is already adjusting its organisation around that reality, while Finland’s new model will have to show that increased competition can improve channelisation without weakening player protection.
Veikkaus is using the transition period to restructure itself before competition arrives, with technology, data and B2B growth becoming more important. Its major test is to determine if the company can adapt quickly enough to compete against international operators without weakening player-protection.
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