Veikkaus H1 Profit Rises as It Prepares for €1bn Licence Fee

Veikkaus Group has posted positive financial results for the first half of the year, showing growth in both revenue and profit. For the six months ending 30 June, actual sales revenue increased to €471.3m from a prior €466.4m. Net profit experienced a 2% year-on-year uplift, reaching €234.2m compared to €229.6m in the same period last year. This steady performance arrives as the company prepares for a fundamental restructuring of the Finnish gambling market.

Finland is scheduled to launch its new licence-based gambling framework on 1 July 2027. Under the new system, Veikkaus Group will hold an exclusive 10-year licence for lottery products, slot machine games, scratch cards, and land-based table games. The price for this exclusivity is approximately €1bn. A significant portion of this compensation fee is reportedly due for payment on a front-loaded basis by the end of 2026.

Digital Growth and Segment Performance

The group’s gross gaming revenue (GGR) continues to be powered by its online operations. Digital channels were responsible for 64.5% of GGR in the first half, a 3.6 percentage point increase from the previous year. Correspondingly, physical points of sale contributed the remaining 35.5%. The operator’s digital ecosystem is supported by a base of 2,672,000 registered customer accounts.

An analysis by division shows that GGR for Lottery and Land-Based Gaming remained stable at €317.9m, compared to €317.5m in H1 2025. Within this vertical, however, digital GGR from lottery products grew by 9.1% year-on-year. The Betting and iCasino division reported an increase in GGR to €151.6m, up from €146.5m. This growth was bolstered by a 5% year-on-year rise in revenue from its digital-only offerings.

Fennica Gaming Expansion

The group’s business-to-business subsidiary, Fennica Gaming, delivered a standout performance. The division recorded an 80.6% year-on-year surge in revenue, which totalled €10.3m for the half-year period, a substantial increase from €5.7m previously. This result reflects the unit's expanding international presence, which now encompasses the supply of games to 21 markets across three continents.

The strong growth of its B2B arm is a key component of Veikkaus's wider corporate strategy. The company has a stated goal of becoming a competitive international gambling operator by the end of 2030, leveraging both its reformed domestic role and its expanding global business.