Finnish Operator Posts EUR 471.3M in Revenue as Digital Channels and Subsidiary Fennica Gaming Fuel Strong Financial Performance
Veikkaus has reported a promising H1 2026, officially returning to growth supported by strong performance across its domestic digital channels and international B2B operations. For the first half of the year (January to June 2026), the Veikkaus Group generated actual operational revenue of EUR 471.3 million, up from EUR 466.4 million during the same period in 2025.
Profitability also saw healthy gains, with the Group’s operating profit rising to EUR 227.7 million (compared to EUR 220.6 million previously) and total results reaching EUR 234.2 million, up from EUR 229.6 million. By the end of June, the operator’s registered customer base approached 2.7 million users.
Digital Channels and Fennica Gaming Drive Momentum
The financial uplift was heavily propelled by surging digital engagement. The Lottery Games and Slot Machines business group experienced a 9.1% growth in digital gaming margin, while the Online Casino and Betting sector grew by 5.0%. Overall, online sales outpaced general market development in Finland, with digital channels accounting for 64.5% of total gaming margin during the first half of the year.
Meanwhile, Fennica Gaming, the group’s international B2B subsidiary, continued its rapid global expansion. The division saw its turnover skyrocket by 80.6% year-on-year to reach EUR 10.3 million, up from EUR 5.7 million. During H1 2026, Fennica Gaming successfully expanded its footprint into several new international markets, including Italy, Canada, two German states, Mexico, the Czech Republic, and Iceland.
Preparations for Finland’s 2027 Licensing Market
Looking ahead, Veikkaus is actively preparing for the structural shift of the Finnish gambling market, which is scheduled to transition to a multi-license system on July 1, 2027. In May, the company established two separate subsidiaries for the upcoming framework and officially submitted license applications covering both exclusive operations and the competitive market.
Executive Insights
Olli Sarekoski, CEO of Veikkaus, commented on the positive results and future outlook:
“Veikkaus’ first year has progressed positively and in line with our expectations: we are back on the path of growth. It is great to see that our investments in digital business and technical capabilities are already paying off in the current operating environment. The growth of our domestic business’ online sales has exceeded the general market development in Finland, and in the first half of the year 64.5% of the gaming margin came from the digital channel.”
Regarding Fennica Gaming’s international trajectory, Sarekoski added:
“Fennica Gaming’s growth has continued in international markets, and the company has progressed in new distribution partnerships and customer relationships according to our plans. In the first half of the year, Fennica Gaming has expanded its operations to several new markets: Italy, Canada, two German states, Mexico, the Czech Republic and Iceland.”
On upcoming regulatory reforms, Sarekoski noted:
“Veikkaus has excellent conditions to succeed also in the new licensing market. We are constantly developing our services and products so that we can offer our customers an entertaining and safe gaming environment. Utilizing technology and internationalization are key here.”
