Fennica Gaming revenue jumps 80.6% as Veikkaus returns to growth

Veikkaus Group increased sales revenue and profit during the first half of 2026, supported by growth across its domestic digital channels and international B2B subsidiary Fennica Gaming.

Sales revenue for January to June reached €471.3m ($548m), up 1.1% from €466.4m in the corresponding period. Operating profit increased 3.2% to €227.7m from €220.6m, while net profit rose 2% to €234.2m from €229.6m.

Digital GGR increased 9.1% within Veikkaus’ Lottery and Land Based Gaming business and 5% across Betting and iCasino. Online channels generated 64.5% of the Finnish operations’ total GGR during the period.

Commenting on the results, President and CEO Olli Sarekoski stated: "Veikkaus’ first half of the year has developed positively and in line with our expectations: we have returned to a growth path. It is great to see that our investments in digital business and technical capabilities are delivering results in the current operating environment.

"The growth of our online store in the Finnish businesses has exceeded the general market development in Finland, and in the first half of the year, 64.5% of gross gaming revenue came from the digital channel."

The operator had almost 2.7 million registered customers at the end of June.

Fennica Gaming generated revenue of €10.3m, representing an 80.6% increase from €5.7m a year earlier. The subsidiary produces games for Veikkaus’ Finnish operations and distributes content internationally.

During the half-year, Fennica expanded into Italy, Canada, Mexico, the Czech Republic, Iceland and two German states. Sarekoski said the supplier had progressed with new distribution partnerships and customer relationships in line with its plans.

Veikkaus is also preparing for Finland’s transition to a licensing system on 1 July 2027, when online casino gaming and sports betting will open to competition.

In May, the group established two subsidiaries for the future market and applied for licences covering both exclusive operations and competitively licensed activities. Veikkaus said preparations were proceeding according to plan.

The company identified technology development and international expansion as central to its strategy for competing domestically and building its presence outside Finland.

The results follow several other developments linked to Veikkaus’ preparations for market liberalisation. Yesterday, the operator opened change negotiations covering Data & AI, two business units and finance teams, with 17 new positions planned and 15 potentially ending. It also joined the Gambling Industry Association Finland earlier this week.