Veikkaus Reports Revenue Decline in Q2 2019

Veikkaus Reports Revenue Decline in Q2 2019

7-4 Veikkaus Reports Revenue Decline in Q2 2019Reading Time: 1 minute


Gross gaming revenue of Veikkaus has fallen 4% year-on-year to €844.3m ($933.3m) in Q2 2019. The total profit also decreases by 1% to €501.4m. The fall comes amid concerns over the future of Veikkaus’ monopoly in the land-based Finnish gaming market.

The operator has blamed “the changing operating environment” for the revenue fall, outlining its plans to invest increasingly in its digital channels.

In August, Veikkaus announced it would be suspending all purchased advertising until the end of September after receiving government criticism of its marketing strategy. Veikkaus also pledged to reduce the number of slot machines and introduce verification technology after a citizen’s initiative called for the removal of slot machines from Finnish shops and kiosks.

“The prerequisite for Veikkaus’ operating capacity is, in any event, a better digital channelling capacity that enables us to direct gaming towards licensed and responsible gaming. We want to be able to continue to offer games responsibly, minimising gaming-related harm, ensuring gaming revenue continues to be channelled to the benefit of Finns,” Olli Sarekoski, CEO of Veikkaus said.

Source: Latest News on European Gaming Media Network
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