Joonas Karhu Launches Huhtikuu, a Gambling Law Firm Focused on Finnish Market

Joonas Karhu, former CEO and co-founder of Bojoko, has established Huhtikuu, a law firm dedicated to Finland’s evolving gambling sector. Based in Helsinki, the firm launches amid the transition to a multi-licence system as Finland abandons its gambling monopoly with Veikkaus in summer 2025. Karhu’s legal and industry background position Huhtikuu at the centre of this regulatory shift.

Finland's Move to a Multi-Licence Gambling Market

Finland will replace its gambling monopoly with a multi-licence system beginning in summer 2025. The new framework enables multiple operators to apply for licences, marking a substantial shift from the previous Veikkaus-controlled model. More than 60 licence applications have already been submitted by prospective industry participants seeking to enter the regulated market, according to figures cited by H2 Gambling Capital. B2B licences will also become available in 2028, further expanding market opportunities for vendors.

Veikkaus will continue to hold a leading market position as the principal operator during the transition. H2 Gambling Capital projects that Finnish online gross gaming revenue (GGR) will reach €2.2bn by 2031, indicating robust growth for the online sector.

Huhtikuu: Focused Legal Expertise for Finnish Gambling Regulation

Huhtikuu, which translates as "April" in Finnish, was launched by Karhu after obtaining both an LLB and LLM from the University of Helsinki. The firm is headquartered in Helsinki and aims to provide specialised legal counsel to operators, suppliers, and other stakeholders navigating the newly regulated Finnish gambling market. Karhu is currently the firm's sole partner but is actively seeking to recruit additional talent as Huhtikuu’s client base grows.

Karhu brings direct experience from multiple facets of the gaming industry. He co-founded the affiliate brand Bojoko in 2017 and became its CEO in 2021. Bojoko was subsequently acquired by North Star Network, where Karhu served as head of casino. In early 2026, Karhu joined Immense Group (parent company of Videoslots) as managing director for Finland before deciding to establish Huhtikuu.

"There aren’t many law firms that focus on gambling law in Finland. I’m not a first mover but having that entrepreneurial spirit from the Bojoko days, I was clear I wanted to try something on my own." — Joonas Karhu, Huhtikuu founder

Regulatory Uncertainties and the Ban on Affiliates

The shift to a multi-licence regime introduces several regulatory ambiguities. Karhu refers to the regulatory package as “very much a 1.0 version,” noting there are significant questions that remain open to interpretation.

A contentious element of the new framework is the prohibition on affiliates. Stakeholders and local experts have criticised the affiliate ban, warning it could undermine the channelisation rate—the percentage of players selecting licensed, regulated operators over unlicensed ones. Karhu considers this prohibition to be the most significant risk to effective market channelisation.

“The affiliate prohibition is going to hurt the channelisation rate. That is perhaps the biggest [contributing] factor to the channelisation rate.” — Joonas Karhu

Huhtikuu’s Market Ambitions and Finland's Legal Landscape

Karhu intends for Huhtikuu to focus exclusively on the Finnish market as it implements its new regulatory structure. With the introduction of B2B licences in 2028 and an expanding online market, he expects regulatory challenges and opportunities for legal counsel to multiply. The Finnish market’s new regulatory regime is expected to present complex compliance issues for both current and future market entrants, particularly given the volume of licence applications and the affiliate ban.

For operators, suppliers, and investors monitoring regulatory changes, Huhtikuu aims to serve as a local source of legal expertise in a changing landscape. Karhu’s combination of industry experience, legal qualifications, and entrepreneurial background positions Huhtikuu at the centre of Finland’s shift towards open market regulation.

Outlook: Sector Growth and Ongoing Debate

Finnish regulators and industry executives will continue to evaluate the effectiveness of the multi-licence system, especially in terms of preventing black market activity. With a forecasted €2.2bn GGR by 2031 and more than 60 licence applications submitted to date, stakeholders expect significant activity as the market adapts. The debate over the affiliate ban and outstanding regulatory questions suggest that the coming years will require specialised legal guidance for both local and international actors seeking entry into the Finnish gambling market.

Further background on regulatory shifts in Europe and their effects on the market is available in the regulation and b2b sections.