Veikkaus Continues To Monopolize Finnish Market
The Finnish gambling market is expected to witness significant transformation in the coming months. In response to stiff competition coming from offshore operators, Veikkaus plans to invest between up to €8 million euros to transform its digital infrastructure.
This state-run Finnish organization is planning to add new online casino games to its internet gambling offerings to address the increasing demand for more variety in its iGaming offerings.
Currently, Veikkaus is the sole authorized entity tasked with providing brick-and-mortar gaming and online casino games in Finland. This exclusive gaming model stays in spite of calls from many stakeholders in the industry asking for reforms and for Veikkaus to be stripped of its ‘exclusive rights’ status.
However, the Finnish government remains stubborn that this monopoly model is what works best for its citizens and provides them with the best protection.
Despite all of these government regulations, there are still offshore gaming operators that are providing online gaming services to the Finnish market. The unregulated offshore gambling market has experienced significant growth over the years. H2 Gambling Capital, a gambling consultancy firm, estimates that the Finnish people have spent more 286 million euros alone on offerings from offshore operators in 2018 and is on target to top the 300 million euros level this year.
Veikkaus has decided to fight back by improving its infrastructure and adding more games to its offerings.
€8 Million Investment
The €8 million that will be invested will be used to secure new games from some of the leading online casino gaming providers in the world. By adding a list of new providers, Veikkaus will be able to significantly expand its gaming portfolio and provide players with the latest and best online casino games in the world. Hopefully, these new games will keep Finns from using the unregulated services of offshore operators.
Jan Hagelberg who is the Head of Casino Games at Veikkaus told local media that these new games will be mostly comprised of online slots and should be up and running in the next few months.
Yggdrasil Gaming and NetEnt are two of the identified digital content providers that Veikkaus will be partnering with for these new games. The investment will not only cover its online casino games but also look to improve its land based offerings. The operation will involve a shift in its business model which will stop table games from being run at restaurants across the country.
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