Scandinavia
Veikkaus: Going International is Key to Growth Strategy
Veikkaus is preparing for a new era, and the preparations will continue this autumn. Preparations are underway to change the gambling system, with a section of the market opening to competition at the beginning of 2026, as laid down in a Government Programme entry.
As a result, some of the digital gambling operations online become part of the international license-based gambling market. However, according to the plans, Lotto and the physical slot machines will remain under Veikkaus’ monopoly.
“Preparing for the shift in the gambling industry and going international are key to Veikkaus’ growth strategy,” Olli Sarekoski, President and CEO of Veikkaus, said.
According to Mr Sarekoski, Veikkaus will make strong investments in new business.
“We are building a future where Veikkaus is Finland’s leading gambling company and a significant operator in the international market,” he said.
Veikkaus’ aim is to achieve a sustainable and lucrative business model that will guarantee the company’s competitiveness even in the future. This will also entail changes to the organisational structure, which will be further discussed in the upcoming cooperation negotiations that will be launched in September.
The negotiations will cover almost the entire organisation, and a total of 825 members of Veikkaus’ personnel. The negotiations may lead to the termination of employment relations of a maximum of ca. 240 people and to material changes to the terms of employment of a maximum of 195 people will change.
The objective is also to reduce the number of gambling locations from 65 arcades to 40–50 arcades. The cooperation negotiations will also concern the potential closure of Casino Tampere.
Veikkaus is aiming at an operating model enabling it to focus on its core business. The goal is to be able to respond to the changes affecting Veikkaus’ mission and operating environment, as well as the gambling industry in general.
“We want to be competitive in the upcoming license-based market and viable in the monopoly market. That is why we need to make operational changes that cover the whole company,” Mr Sarekoski said.
The ongoing transition in the gambling industry, together with the change in the system will take Veikkaus into a new era.
“It will bring with it many parallel changes. We will go through the whole organization from the perspective of lucrativeness and growth. We will also have to make difficult decisions. For some, these changes may mean the termination of their employment relation. We will be caring for and looking after them,” Mr Sarekoski added.
It was a strong year
The Nordic gaming company Paf performed well in 2024, despite a slight decline in earnings. Paf’s open customer segment demonstrates that it is possible to be a sustainable entertainment company with decisive loss limits to prevent excessive gambling.
The Paf Group’s turnover increased from €177.1 million to €183.0 million in 2024, a rise of 3%. However, earnings decreased from €55.1 million to €54.3 million.
“We had a strong 2024, and we can be really pleased with the year. The trend of increased gambling taxes is bringing down earnings, but this was something we were prepared for,” said Christer Fahlstedt, CEO.
Paf’s profit decreased by 1%, primarily due to increased gaming taxes. Paf paid €11.8 million more in taxes in 2024 than in 2023. In particular, the lottery tax increased in Finland from 5% to 12%, and in Sweden from 18% to 22%.
“Paf is well equipped to handle tax increases thanks to our customer base, which generates long-term income from a large number of players who play for smaller amounts. Taxes on gaming companies are necessary, so that other gaming companies also can contribute back to society,” says Christer Fahlstedt.
21.5 million euros in Paf funds
The annual distribution of Paf funds will be €21.5 million. These funds are used for the benefit of society, including social activities, culture, youth work, sports, environmental activities, and more.
“The level of Paf funds that can be maintained year after year, combined with the voluntary measures taken in relation to responsible gaming towards customers, is impressive. There is no other company in the industry that is currently achieving anything similar,” says Jan-Mikael von Schantz, Chairman of the Paf Board.
Entertainment on sustainable terms
In 2024, Paf lowered the loss limit for young customers aged 20–24. Then, in March 2025, the loss limit for young customers was reduced again, and at the same time, the general loss limit for all age groups was lowered to €16,000.
“We want to be a sustainable entertainment company, and our results show that it is possible to achieve strong results without compromising on responsible gaming. I am genuinely surprised and a little disappointed that our state-owned counterpart Veikkaus in Finland has chosen to raise its loss limit this spring. But we are going our own way and they are going in a different direction,” says Christer Fahlstedt.
Open customer segments 2017–2024
The table below shows the development of gaming in different customer segments from 2017 to 2024. The red segment has been at zero in recent years, as Paf’s loss limits have prevented larger losses. The white segment shows the percentage of winning players who ended the year in profit.
“We are increasing revenue from the green segment by 12.3%, which benefits our development towards more sustainable revenue. We would like to see more operators be as open and transparent with their numbers as we are,” says Christer Fahlstedt.
All the numbers in Paf’s customer segments have been reviewed by auditors as part of the financial statement audit.
Read Paf’s full Annual Report for 2024 on aboutpaf.com/corporate/annual-reports.
The post Paf’s results for 2024 appeared first on European Gaming Industry News.
A streamer has accepted a fine of DKK 10,000 for using Twitch to distribute games to game providers without a license to offer games in Denmark.
Twitch is a platform where users share live content, such as gaming, unboxing and gambling.
The streamer has in several cases advertised game providers without a Danish license through his Twitch channels.
The Danish Gambling Authority discovered the violation in 2023 and reported the streamer to the police.
The police have assessed that the streamer has violated the law, and the streamer has been fined DKK 10,000, which was the amount recommended by the Danish Gambling Authority.
This is the second time that the Danish Gambling Authority has reported a streamer for distributing illegal games and has been successful in the case.
Source: spillemyndigheden.dk
The post Spillemyndigheden: Streamer fined DKK 10,000 for illegally distributing games appeared first on European Gaming Industry News.
partnerships
ELA Games Signs Partnership with Danske Licens Spil to Expand Presence in the Danish Market
ELA Games, a modern iGaming development studio, announces its strategic partnership with Danske Licens Spil, one of Denmark’s biggest iGaming operators. The collaboration will see ELA Games’ portfolio hosted on the Tivoli Casino platform, increasing the brand’s presence in the Danish market.
The Tivoli Casino platform, established in 2012, is a key figure in the Scandinavian iGaming landscape and constantly improves its content selection with modern and innovative games. As part of the partnership, Tivoli Casino will host some of ELA Games’ engaging and popular titles, such as Lucky Dwarfs and Madshow Circus. These games, due to their creative mechanics, social features, and visually rich design, will help boost Tivoli Casino’s engagement metrics.
ELA Games has obtained a game supplier license in Denmark, which marks the fourth for ELA Games as it continues its expansion across Europe. Currently, the studio holds game supplier licenses with the MGA (Malta Gaming Authority), the Swedish and Romanian gambling authorities, and now the DGA (Danish Gambling Authority).
Marharyta Yerina, ELA Games’ Managing Director, commented on the new strategic partnership, saying, “Our partnership with Danske Licens Spil enables us to enter the Danish market through the Tivoli Casino brand and highlights our ambitious expansion and sustainable growth. We’re excited to introduce our games to a new target audience, and we hope to create market-specific games that resonate with Danish players to ensure we become a recognisable figure.”
The year 2024 proved to be an extremely successful year for ELA Games, which saw the studio release 15 new games and increase its production output to two games per month. This increase in production saw ELA Games increase its talent by 68%, laying the groundwork for continued success in 2025.
The post ELA Games Signs Partnership with Danske Licens Spil to Expand Presence in the Danish Market appeared first on European Gaming Industry News.
-
Asia4 weeks agoJetapult Strengthens AI Expertise: Onboards Industry Leaders, Oz Silahtar and Dr. Arjun Jain
-
Africa3 weeks ago
Association of Gaming Operators in Kenya Announces New Regulations
-
Conferences in Europe4 weeks ago
Altenar Steps in as General Sponsor of EEGS 2025
-
Press Releases3 weeks ago
Swintt stacks up a pyramid of wins in Egypt King Pearl Upgrade
-
Press Releases4 weeks ago
Colour the world your way in Supa Crew by Swintt’s Elysium Studios
-
Compliance Updates3 weeks ago
MGCB Targets 11 Illegal Online Casinos Operating Without Licenses
-
Cancún4 weeks ago
CONCEPT AND NEW GAMES REVOLUTIONIZE PALACE BINGO & SPORTS BETS IN CANCÚN
-
Africa4 weeks agoReaden Holding Corp Finalises Acquisition of Morrich Lottery Limited
