In its latest interim report, Betsson Group noted a successful run but faced challenges in Finland.
A subsidiary of BML Group has been blacklisted as unlicensed operators in the country by the Finnish National Police Board (NPB).
This means that the company is prohibited from interacting with banks, payment services and virtual currency providers in Finland.
This comes almost a year after BML Group, which holds a license from the Malta Gaming Authority (MGA), was fined €2.4 million by the NPB for breaching marketing rules granting a gaming monopoly to Finnish state-owned bookmakers, in particular games and lotteries operator Veikkaus.
Betsson appealed the fine in court and, according to reports, lost the case on February 19, 2024.
A government investigation in 2023 into the share of unlicensed operators in the Finnish market found that the volume of illegal betting was between 500 and 550 million euros. This affects Veikkaus’ profits and raises doubts about the monopoly of state ownership.
This led to the introduction of a new politically supported licensing model. Under this model, Veikkaus will retain control of physical casinos, slot machines, brick-and-mortar betting and lotteries. While private operators will be able to provide online sports betting and gaming licenses.
Veikkaus expressed support for this proposal, pointing out the clear need for changes that will strengthen the Finnish budget and ensure the protection of players in the country.
Olli Sarekoski, Veikkaus CEO, expressed: “The report is good and balanced. It is important that the amount of gaming margin outside the exclusive rights system is confirmed to be in the range of €500m to €550m, and thus also in the category we presented based on H2 Gambling Capital’s information.”
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