Finland’s gambling market reform has renewed debate over the future of state operator Veikkaus. Governing parties are either withholding their position or taking a cautious approach to a potential sale, with some members emphasising the need for careful analysis of both market conditions and wider social impacts.
Next parliamentary elections will be held in April 2027 to elect members of Parliament for the 2027–2031 term.
Under the upcoming summer 2027 market liberalisation, Veikkaus will lose its monopoly on online casino and sports betting. The change has raised wider questions about whether the state should continue to own a gambling operator in an open market.
Governing parties cautious on potential Veikkaus sale
The governing parties including the National Coalition Party and Swedish People's Party of Finland (SFP) have taken a cautious stance. SFP has declined to outline its position for the next parliamentary term, citing member Joakim Strand’s role as Minister for Corporate Governance.
The National Coalition Party said decisions on individual companies require careful civil service preparation, taking into account market conditions, wider societal impacts and the state’s role as owner.
The True Finns Party and the Christian Democrats are avoiding a firm stance on the issue but provide broader reasoning.
The True Finns argue that a sale would not necessarily improve long-term public finances and warn against relying on one-off revenue for ongoing spending, comparing it to “selling a cow that produces milk” for a single gain.
The Christian Democrats stress that the decision should not be based only on financial considerations and say that preventing gambling addiction should also be taken into account.
Opposition parties largely open to sale
There is a alignment between the two largest opposition parties, the Social Democrats (SDP) and the Centre Party. The SDP, once a strong defender of the monopoly, shifted its position in recent years.
Party secretary Mikkel Näkkäläjärvi stated: "The state has no particular strategic interest in owning a gaming company at this point." He added that the price would be decisive in any potential sale.
The Centre Party also supports considering a divestment, while the Left Alliance firmly and vocally opposes a sale.
Industry expert values Veikkaus at around €4.5bn amid rising international interest
According to gambling industry expert Jari Vähänen, Veikkaus could be valued at around €4.5bn. He estimates the parts of the business that will face competition, namely digital casino and sports betting, would be worth €1bn to €1.5bn.
Vähänen, who previously held senior roles at the state-owned operator and has worked as a consultant since 2020, said there is already clear interest from international gambling companies in a potential acquisition. He added that major global operators are attracted by the opportunity to become market leaders in Finland by acquiring Veikkaus.
Veikkaus sale unlikely before 2030, according to State Ownership Governance Director General
Maija Strandberg, Director General for State State's Ownership Governance at the Prime Minister’s Office, previously stated a sale of Veikkaus is unlikely before 2030.
She noted that any move to broaden ownership would depend on appropriate legislation, strong company performance and structure, and favourable market conditions. She also stressed that Veikkaus would need to demonstrate its competitiveness in an open market before attracting serious buyer interest.
Around 40 gambling companies are currently interested in obtaining a Finnish licence ahead of market opening
