Veikkaus continues preparations for the upcoming commercially regulated Finnish iGaming market, but it also expressed optimism that a pathway to international success is within reach.
It is laying the groundwork for global expansion through its Fennica Gaming operations, its B2B studio based in Helsinki, which is active in 21 regulated markets across Europe, North America and Latin America.
With stated ambitions in its full-year 2025 report to be ‘a respected and successful international money gaming group by 2030’, Jonas Reuter, Executive Vice-President of Veikkaus International, said investment in iGaming and lottery is paying dividends.
Inside my DNA
Reuter told SBC News: “This has created a special DNA in our type of games. We want to expand internationally around the world, test our wings internationally and form new partnerships.”
Fennica has a presence in the Canadian provinces of Ontario and Alberta, Italy with Sisal and Brightstar Lottery, and the Brazilian online casino market.
Reuter noted that the studio takes care to create curated titles for each regulated market, hoping to find something internationally that will bring an advantage when the Finnish iGaming market opens up to commercial operators next year.
Mr Worldwide
Veikkaus could eventually bring its B2C operations under its international scope, but for now, preparing for the incoming competition in Finland and growing B2B operations globally is the priority.
“To get more of an international mindset in terms of products and how we operate, we need to get out there,” Reuter continued.
“We need to get into partnerships under the regulations we have, which is to act as a B2B provider using the systems and games we’ve built in-house and take them to other markets.
“Through the partnerships, that is how we as a group and as a company learn to operate in the new environment. When we are put against challenges, whether internationally or in the Finnish market, we have international partners we can reach out to and work with.
“I think that is very important for the culture of Veikkaus as a group.”
Talk of the town
Changing regulations in global markets will be a challenge for Veikkaus to navigate, but the operator is confident its culture of compliance, attractive user experience, and B2B DNA will support its future ambitions.
Reuter concluded: “It’s difficult to be competitive enough and efficient enough to compete with the international giants, but I think we are becoming more international, more digital and a company with growth.”
Finland’s iGaming market is set to open up and become a licence-based system from 1 July next year, with 50 licence applications reportedly having been submitted.
Veikkaus supports opening the Finnish iGaming market to commercially licensed operators, as long as it boosts player protection and combats the black market.
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