Joonas Karhu, former CEO of Bojoko, founds Huhtikuu to advise on gambling regulation in Finland

The legal sector of gambling in Finland acquires a new player with the launch of Huhtikuu, the legal firm founded by Joonas Karhu, former CEO and co-founder of Bojoko, located in Helsinki. The opening of Huhtikuu directly responds to the imminent regulatory transformation in Finland, which will end the state monopoly of Veikkaus and introduce a multi-licensing system starting in summer 2025.

The vision behind Huhtikuu and its founder

The firm Huhtikuu (April in Finnish) is born under Karhu's direction, who recently obtained LLB and LLM qualifications from the University of Helsinki. Karhu entered the sector by founding Bojoko in 2017 and led the company as CEO from 2021 until its sale to North Star Network, where he remained involved as head of casino. In 2026, he joined Immense Group, the parent company of Videoslots, as General Manager for Finland but left that position to establish his own legal project.

"The idea of creating the firm had been brewing for a while. The arrival of the commercial market was another important factor," Karhu said in statements to EGR. He emphasized that "in Finland, there are not many firms specialized in gaming law," and although he is not a pioneer, his experience drove him to venture out on his own. Currently, Karhu is the sole partner at Huhtikuu, but he seeks to expand the team as new clients arrive.

The new regulatory framework and the emergence of licenses

Finland will replace the Veikkaus monopoly with a multi-licensing system starting in summer 2025, allowing private operators to enter under certain requirements. More than 60 license applications have already been registered, reflecting both international and local interest in the new landscape. The system will also incorporate B2B licenses starting in 2028.

The intelligence firm H2 Gambling Capital projects that online GGR in Finland will reach 2.2 billion euros by 2031, while Veikkaus will maintain its market leadership in the short term. The new regulation aims to create conditions for operators and suppliers, but still leaves areas open to interpretation according to legal experts and the industry players themselves.

Prohibition of affiliates and risks for channeling

One of the most debated points of the multi-licensing framework is the total prohibition of affiliates. Various stakeholders and local specialists warn that the measure could favor the black market, hindering the objectives of channeling to the regulated market. Karhu emphasizes:

"The prohibition on affiliates is going to damage the channeling rate. That is perhaps the greatest factor contributing to channeling." — Joonas Karhu

This restriction generates uncertainty among companies in the sector, particularly for entities accustomed to operating with affiliate strategies.

Projections and future for gambling law in Finland

The regulatory transformation in Finland arrives alongside expected growth for the digital segment. According to H2 Gambling Capital, the country could establish itself as one of the key markets in Northern Europe due to its size and regulatory stability. However, the "version 1.0" of the legal framework leaves open questions that firms like Huhtikuu will seek to interpret and resolve on behalf of their clients.

Karhu emphasizes that the firm's goal is to advise exclusively in the Finnish market, especially with an eye toward the future regulation of B2B providers anticipated for 2028.

Perspectives of the legal and technological sector in Finnish gaming

The emerging regulatory environment fosters demand for specialized legal services, particularly in areas such as licensing, compliance, payments, and channeling. Huhtikuu plans to position itself as a local reference for operators, suppliers, and future players interested in the national market. The growing role of legal advice is evident in the regulatory structure and the volume of license applications already submitted.