Veikkaus reports revenue decline in Q2

The Finnish gambling monopoly Veikkaus has revealed that its gross gaming revenue decreased by 4% year-on-year in the second quarter.

Finland.- Veikkaus has revealed that its gross gaming revenue (GGR) suffered a 4% decline in the second quarter when compared to the same period last year. The Finnish gambling monopoly registered €844.3 million in revenue and a profit of €501.4 million, a 1% decline.

Veikkaus said that revenue decreased in all of its games in the three-month period ended June 30. However, Lotto was the only vertical that managed to increase revenues by 8% to €187.5 million. This fall happens while there are concerns around Veikkaus’ monopoly in the country.

Moreover, the company also said that total turnover for the first half of the year was €1.5 billion, which represents a 6% fall.

While Veikkaus holds the rights to operate gambling in the country, it doesn’t have the rights to operate online gambling. In that market, the company competes with foreign operators.

Olli Sarekoski, CEO of Veikkaus, said that the prerequisite for the company’s operating capacity is, in any event, a better digital channelling capacity that enables them to direct gaming towards licensed and responsible gaming.

“We want to be able to continue to offer games responsibly, minimising gaming-related harm. We want to ensure gaming revenue continues to be channelled to the benefit of Finns.”