Veikkaus H1 2025: Figures drop across the board as Finland looks to demonopolise
Revenue fell 4% to to €466.4m.
Key points:
– Finland monopoly operator Veikkaus has released its H1 results
– Revenue and profit were down across the board
– These results were “according to expectations”
Veikkaus has released its financial results for the first half of 2025.
In total, sales revenue came to €466.4m ($547.9m), a dip of 4% year-on-year. Other operating income and lottery tax saw a similar decline, down €0.3m to €1.1m and down €2.4m to €55.3m, respectively.
Overall, operating profit came to €220.6m, down 10.6% year-on-year, with profit for the financial period totalling €229.6m, down 9% year-on-year.
Of the €466.4m total revenue, lottery games generated €246.1m, down 4% year-on-year, while slot machines made €71.3m, down 4.2%. Even online casino and betting games reported a dip in revenue, down 3.7%, though revenue from gaming as a service (GAAS) did see an increase in earnings, from €0.9m to €2.5m.
Despite this, Veikkaus still holds the majority of gaming revenue share in Finland, with 68.8% of lottery and land-based revenue and 31.2% of betting and iGaming revenue. Of course, as the monopoly operator, this makes sense. But, with the market set to demonopolise, and some accusing Veikkaus of anti-competitive practices in the build-up, whether this will remain the case is uncertain.
Good to know: Hippos AGT Oy announced today that it will launch the AGT brand in Finland following the demonopolisation of the market
On the results, CEO Olli Sarekoski said: “Veikkaus performed during the first half of the year according to expectations, and the long-standing decline in gross gaming revenue has been curbed compared to the end of 2024…
“At Veikkaus, we are committed to improving every day. To succeed in a competitive market, we must also evolve in ways that support our long-term competitiveness. This means not only developing our systems but also strengthening our competencies for operating in a competitive environment.”
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