January-June 2025: Veikkaus preparing for a multi-license market

The gross gaming revenue from domestic business fell during the reporting period due to several factors. Launch of the new lottery game Milli was delayed from the planned schedule due to regulatory approval coming into effect later than expected, and jackpot levels, particularly in Eurojackpot, were lower than the previous year. Additionally, changes in general consumer behavior and a decrease in purchasing power affected Veikkaus' business.   

The comparable revenue of Veikkaus' international business subsidiary, Fennica Gaming, nearly tripled in January-June compared to the same period last year. In the first half of 2025, Fennica Gaming's game production was bolstered when Veikkaus' game studio operations were transferred under Fennica Gaming. Additionally, the company obtained B2B gaming vendor licenses for Ontario in Canada, Greece, and the United Arab Emirates. The company now operates on three different continents.  
  

January–June 2025 for Veikkaus:    

• Veikkaus Group’s actual sales revenue in January-June 2025 amounted to EUR 466.4 million (-3.6% compared to January-June 2024). The actual sales revenue includes both the gross gaming revenue and turnover from other business activities.    
• Veikkaus Group’s operating profit was EUR 220.6 million (-10.6%), while the profit was EUR 229.6 million (-9.0%).  The most significant factor affecting the profit development was the decline in the gross gaming revenue of the domestic business.  The company paid EUR 55.3 million in lottery tax for the review period, which is EUR 2.4 million less than the corresponding period last year.   
• The parent company Veikkaus Ltd’s revenue from gambling operations, i.e., the gross gaming revenue, was EUR 463.9 million (-3.9%).   
• The parent company Veikkaus Ltd’s operating profit for January-June 2025 was EUR 242.7 million (-2.7%), and the financial profit was EUR 250.5 million (-1.5%).  
• At the end of June, Veikkaus had 2,625,000  registered customers. Their number went up by ca. 25,000 customers during the first half of the year.   
• All Veikkaus games have been subject to the authentication requirement since 1 January 2024.   

- During the first half of the year, we have implemented Veikkaus' strategy as planned and invested in the development of both domestic business and international growth. The beginning of the year has been very promising for our international business subsidiary, Fennica Gaming, says Veikkaus' CFO Regina Sippel.  

- The reform of the gambling system is a great opportunity for Veikkaus. During 2025, we have continued our determined work to ensure that we are ready when the licensing system is launched. Investments in digital competitiveness and customer experience have been at the core of our development, Sippel states.  

Interim report of Veikkaus Ltd January-June 2025  

For more information, please contact:    

CFO Regina Sippel, contacts via Veikkaus’ media service, tel. +358 9 4370 7000.