Finland’s state-owned gambling operator Veikkaus is restructuring its organisation ahead of the country’s gambling market opening in July 2027, when betting and online casino will move from a monopoly to a licence-based system.
Veikkaus said its latest changes will terminate 15 existing positions and create 17 new roles, affecting its Data & AI department, two business units and finance teams. Negotiations over the changes are expected to last about three weeks.
The restructuring follows Veikkaus’ decision in May to establish two subsidiaries, one focused on its exclusive operations and the other on the competitive, licence-based market.
Veikkaus has applied for a licence as a private entity and was among about 50 companies that had submitted applications by the end of June.
The operator has also been preparing its technology and operations for greater competition. It has switched its sportsbook backend from DraftKings to OpenBet and appointed former Scientific Games executive Chris Armes as executive vice president of Gaming Technologies. Armes is expected to take up the role in autumn 2026.
Veikkaus has also joined the Finnish Gambling Association as it prepares for the market opening.
Veikkaus reported a 1% year-on-year increase in sales revenue to €471.3 million ($546.8 million) in the first half of 2026.
Operating profit rose to €227.7 million ($264.4 million) from €220.6 million, while profit for the period increased to €234.2 million from €229.6 million.
The company attributed the growth to its digital channels. Digital gross gaming revenue accounted for 64.5% of GGR, an increase of 3.6 percentage points from the previous year.
Registered customers rose by about 50,000 to approximately 2,6 million at the end of June.
Lottery and land-based gaming generated €317.9 million ($369.2 million) in GGR, broadly unchanged from the first half of 2025. Lottery revenue increased to €254.5 million from €246.1 million, helped by a 9.1% increase in digital lottery revenue through the Veikkaus app and products such as Milli.
Revenue from slot machines and physical table games declined to €63.4 million ($73.6 million) from €71.3 million, reflecting a smaller retail network and fewer machines.
Betting and iCasino GGR, meanwhile, increased to €151.6 million ($175.3 million) from €146.5 million. Veikkaus attributed iCasino growth to a broader game catalogue and rapid expansion of live casino offerings.
Veikkaus’ international B2B subsidiary Fennica Gaming continued to grow, with revenue rising 80.6% to €10.3 million ($11.9 million) from €5.7 million. The growth followed launches of eInstants and iCasino products in markets including Italy, Canada, parts of Germany, Mexico, the Czech Republic and Iceland.
Fennica now operates in 21 markets across three continents and has secured an online supplier licence in the United Arab Emirates.
Finland’s new Gambling Act, ratified in January 2026, will end Veikkaus’ exclusive rights to betting and iCasino products from July 2027. The operator will retain exclusivity over lottery games, scratchcards, slot machines and physical table games.
Veikkaus has committed to paying around €1 billion ($1.16 billion) in market-based compensation for its exclusive operations over a 10-year licence period, with a significant upfront payment scheduled for 2026.