The governance of Finnish state-owned operator Veikkaus OY has stated that it has completed its unification of gambling enterprises under the Veikkaus brand, which will seek to bring a greater market proposition to Finland’s betting/gaming consumers.
Last June the Finnish Finance Ministry announced that the state-owned gambling enterprises of Ray (slots & games) Fintoto (racing) and Veikkaus (betting) would be merged under the single entity of Veikkaus OY.
The unification of assets has been led by newly appointed Veikkaus OY Group Chief Executive Olli Sarekoski who took leadership of the company in July 2016.
Completing its unification, Veikkaus governance stated that Finnish charities and social programs would benefit greatly from the new enterprise, which would be a more effective vehicle for fundraising.
Presenting its Finland gambling report, Veikkaus OY estimates that the Finnish gambling market is valued at circa €3.5 billion a year.
Last week, Veikkaus governance presented the final results of Ray, Fintoto and Veikkaus as independent assets.
Ray and Veikkaus would declare respective record-breaking years, as Ray games would declare a turnover EUR 809.4 million, while Veikkaus betting would declare a turnover € 810 million, combined with an underlying corporate profit of €423.5 million.
The growth of the two divisions, has made Veikkaus governance positive that it will be outright market leader for both retail and landbased gambling consumer services