‘Veikkaus Won’t Fail,’ Says EVP, as Monopoly Prepares to Compete in Finland
Finland’s gambling monopoly Veikkaus is overhauling its technology and poaching industry talent, as it prepares to compete in an open market for the first time.
Jarkko Nordlund, EVP for iCasino and sports betting at Veikkaus, spoke to iGB and stated that he is determined to prove Veikkaus’ doubters wrong.
Finland’s online market will open to private competitors in January 2027 and the legacy monopoly operator is expecting to secure a leading position when that occurs.
“We have not really activated [our technology and product capabilities], but the competition is fierce, and when [the market] opens we must be very competitive. Our aim is to challenge the mentality of our current position,” Nordlund noted.
France’s Gambling Sector Grows in 2024, but Tax Hike Looms
France’s gambling sector returned to growth in 2024, with higher participation among younger bettors and women. However, incoming taxes could negate future gains.
France’s gambling sector shows growth indicators as younger players have entered the market and female participation in sports betting has risen, according to 2024 player activity and revenue data from the l’Autorité Nationale des Jeux (ANJ).
In 2024 active player accounts increased 11 percent year-on-year to 5.7 million. ANJ said that trend was seen across a number of verticals, with player accounts in sports betting up 13 percent, poker up 11 percent and horse racing receiving a 4 percent bump.
In terms of revenue, overall GGR for 2024 hit €14 billion ($15.8 billion), up 4.7 percent year-on-year.
Kindred Subsidiary Handed $1 Million Fine in Sweden
Swedish regulator Spelinspektionen has fined Kindred’s Spooniker SEK10 million ($1 million) and issued a warning to the group for failing to amend its systems after a 2022 review flagged AML failings.
The Kindred subsidiary Spooniker holds commercial online gaming and betting licences in Sweden to operate seven websites, including unibet.se, bingo.se, ottocasino.se and mariabingo.se.
Spelinspektionen had originally found in November 2022 that Spooniker had “shortcomings” within its money laundering and terrorist financing mitigation processes. It was fined SEK10.9 million ($1.1 million) at the time.
Gambling Commission Considers Action Against Allwyn Over Lottery Delays
The U.K. Gambling Commission is reportedly weighing taking regulatory action against Allwyn over its failure to deliver on promises made during its successful bid for the fourth National Lottery licence.
The commission is concerned that Allwyn has not met certain contractual milestones since securing the licence. Czech-headquartered Allwyn assumed control of the U.K. National Lottery in February last year.
Areas of concern to the regulator are said to include delays to digital upgrades. Allwyn is also said to have pledged to reduce ticket prices for the main National Lottery draw from £2 to £1, but this is yet to take place.
Online Slots Drive U.K. Q1 Online GGY, Retail Decline Mirrors Operator Reporting
U.K. online slot gross gambling yield (GGY) reached £689 million in Q1, while the Gambling Commission also reported real event betting growth.
The commission has reported a 7 percent year-on-year increase in online GGY for the first quarter, helped by double-digital growth for online slots.
Data from the commission, released May 7, placed GGY at £1.45 billion ($1.93 billion) for the three months to March 31. This beat £1.34 billion in the same period last year but fell 5.8 percent short of £1.54 billion in Q4.
The rise in GGY was accompanied by a 5 percent increase in the total number of bets and spins to 25.2 billion. In addition, the number of average monthly active accounts was 2 percent higher at 13.5 million.
