Online Gaming Accounts for 44% of Revenues for Finland’s Veikkaus
Veikkaus have announced a 10% increase in online gaming for the first quarter of 2018 between January and March to reach €76.8m. Veikkaus is fully owned by the Finnish government and has an exclusive legal betting license on lotteries and sports betting in Finland.
The first three months ending March 31 saw Veikkaus generate sales of €805.6m which was down 1% for the same period last year. Net Revenue however improved by 2% to €256m.
In terms of total turnover from games, 56% came from physical stores and 44% from digital channels. President and CEO of Veikkaus Olli Sarekosi said that their main focus was to shift their focus to digital games which were up 10% for the first quarter.
He pointed out that various online game control tools were introduced by Veikkaus which included land-based casino players having to verify their identity before the machines will operate. Until now around 45% of Veikkaus 2.1m registered users had already used the new verified card system.
Other measures adopted were player deposits and spending limitations that can be implemented in advance.
Sarekoski said,” With our offers of versatile games, we want to direct our products to responsible national channels. We also decided to review the company strategy in 2018, to respond to the profound changes in our operating environment. “ Despite claiming to have 90% of the country overall online market Veikkaus is well aware that they have to ensure they can compete with other international online operators which are set to take a piece of their market share.