Veikkaus reports revenue decline in Q3

The Finnish operator Veikkaus has reported that gross gaming revenue in the third quarter was down 2.1%.

Finland.- Veikkaus has released the financial report detailing operations from the third quarter of the year. During that period, Veikkaus totalled €1.2 billion in gross gaming revenue (GGR), which is a 2.1% setback when compared to the same period a previous year. Profits totalled €762.2 million, which is a 1.3% rise from 2018.

In the third quarter of the year, almost all Veikkaus games saw their turnover fall, with the exception of Lotto. The latter’s turnover of €267.4 million rose between January and September by 6.7%. Total turnover for January-September also declined by 4.1% to €2.2 billion. Of the turnover, 57.1% came from the points of sale, whereas 42.9% came from the digital channel.

During the latest three-month period, Veikkaus landed the biggest Eurojackpot winning of all times in Finland in August. The €92-million euro jackpot was scooped by a syndicate of fifty shares, located in Siilinjärvi in eastern Finland.

Veikkaus’ President and CEO Olli Sarekoski said: “Veikkaus’ year has been challenging business-wise so far. Our turnover has decreased in almost all games as compared with the previous year.  However, Lotto’s turnover has gone up, thanks to several weeks of record-high rollover jackpots. Working in a cost-efficient way, we have been able to keep the profit of the start of the year at last year’s level.”

Moreover, Veikkaus introduced the chance to use mobile devices for player identification on slot machines in September, following which people have had the option of identifying themselves on slot machines not only by showing their Veikkaus Cards or payment cards linked to their Loyal Customer status but also by using mobile applications or browsers. Increasing the share of identified gaming is one of Veikkaus’ key strategic objectives.