Veikkaus

Veikkaus is the Finnish state-owned gambling company and the current holder of the gambling monopoly in mainland Finland. Under the Gambling Act 10/2026 it is expected to continue operating lotteries, pools, scratchcards, physical slot machines and land-based casino games under an exclusive licence after the market partially opens.

Veikkaus is the state-owned operator that has held the Finnish gambling monopoly. From 1 July 2027 it loses exclusivity over betting and online casino, which move to a licence-based market, while retaining exclusive rights to lottery games, scratchcards, physical slot machines and land-based casino games. The division is set out in our guide to how the licensing system works.

Split into two companies

In May 2026 Veikkaus established two subsidiaries: one for the exclusive-licence operations and one for the competitive licence-based market. The separation is required to satisfy EU competition rules on competitive neutrality, and it means the entity competing with international operators from July 2027 is legally distinct from the monopoly business.

It has applied for a licence

Veikkaus has submitted applications covering both parts of the future system, making the incumbent one of the identifiable applicants in our Licence Tracker. Our analysis of what the split means is in this story.

The price of the remaining monopoly

Veikkaus has committed to paying market-based compensation for its exclusive businesses, estimated at around €1 billion over the ten-year exclusive licence period, with much of it front-loaded during 2026. It also loses its corporate income tax exemption and pays the same 22% rate on gross gaming revenue as its new competitors, as set out in our tax guide.

Financial position

First-half 2026 sales were €471.3 million, up 1% year on year. Operating profit rose to €227.7 million from €220.6 million, and profit for the period reached €234.2 million.

Restructuring

The latest round terminates 15 roles and creates 17 new ones across the Data and AI department, two business units and finance, with capability being moved toward data analysis, customer insight, product management, technology, regulation and commercial operations. Veikkaus has also joined the Finnish Gambling Association, the industry body that campaigned for the liberalisation that ends its monopoly.

Ownership debate

Industry consultant Jari Vähänen, a former senior Veikkaus executive, has estimated the business could be valued at up to €4.5 billion following liberalisation, and has said several private firms have expressed interest in acquiring parts of it. No decision has been taken, and it remains one of the unresolved questions in this market.