Veikkaus Reports Solid Digital Growth in H1 2026

Veikkaus shows a clear return to a growth path in the first half of 2026, primarily driven by the performance of digital channels in Finland and the international expansion of its B2B subsidiary Fennica Gaming. The group reported actual sales of €471.3 million from January to June, with an operating profit of €227.7 million and a net profit of €234.2 million. The growth was supported by advancements in digital segments, preparing the company for the upcoming liberalization of the Finnish gambling market in 2027 and the increase in international competition.

Veikkaus Financial Results

Veikkaus' core operations in Finland highlighted an increase in digital revenue. By the end of June, the registered customer base reached 2.7 million, consolidating the operator's position in the local market. 64.5% of gross gaming revenues from the Finnish market were generated through the digital channel, thus outperforming the overall sector performance in the country.

The largest contribution to profits came from digital channels, which generated a 9.1% growth in Lottery and Casino lines, and 5.0% in Betting and iCasino. The transition of the clientele towards online products is reflected in the statements of Olli Sarekoski, CEO of Veikkaus:

"Investments in digital business and technical capabilities are already showing results. The online store has outperformed the general development of the Finnish market, and the digital channel now accounts for 64.5% of gross revenues," commented Sarekoski.

International Expansion of Fennica Gaming

The subsidiary Fennica Gaming, focused on international B2B operations, increased its revenue by 80.6% to €10.3 million from January to June 2026. This growth was achieved by signing relevant distribution agreements and entering new markets during the first half of the year.

Among the countries where Fennica Gaming advanced its presence are Italy, Canada, two German states, Mexico, the Czech Republic, and Iceland. According to Sarekoski, "Fennica Gaming expanded its channels and international business relationships as planned, entering new relevant markets this semester."

Preparation for the Licensing System in Finland

The gambling market in Finland will adopt a licensing system starting from July 1, 2027. Veikkaus continues its adaptation strategy, establishing two new subsidiaries in May to separate exclusive activities and operations geared towards future competition. It has also submitted license applications for both segments to regulatory authorities.

Preparations for the implementation of the multi-license market are advancing according to schedule. Sarekoski indicates that the technological foundation and international focus are key to maintaining competitiveness and providing safe and attractive gaming environments in the new regulatory stage.

"Veikkaus starts with excellent conditions to compete in the new licensing-based system. We focus on continuous service development, leveraging technology and internationalization," said the CEO.

Digitalization as a Strategic Focus

The dominance of digital channels in the semi-annual results confirms the importance of this area for Veikkaus and for other operators in the region. The pace of migration to online and the reinforcement of internal capabilities are determining factors for navigating the future regulatory environment in Finland and sustaining growth in international markets, an aspect closely monitored in the international gambling agenda.

Outlook in a Liberalized Market and Competition

Veikkaus’ preparation for a scenario of increased competition includes boosting content, technology, and B2B partnerships, aimed at consolidating presence both locally and in newly opened markets. As Fennica Gaming scales its global operations, the group seeks to diversify income sources and strengthen its resilience in the face of relevant regulatory changes.