Veikkaus, the Finnish state-owned gambling operator, has posted a return to growth in the first half of 2026 alongside a series of significant strategic announcements.
The company recorded overall sales revenue of €471.3m for H1 2026, up 1% from €466.4m generated during the same period in 2025.
Veikkaus has confirmed it will pay approximately €1bn in compensation to retain its exclusive lottery licence for a ten-year period, with much of that payment due on a front-loaded basis during 2026.
The timing of the revenue upturn is particularly welcome given that substantial financial obligation, which places considerable pressure on the operator’s near-term cash position.
Lottery remains the backbone of the Veikkaus business, accounting for 67.7% of overall revenue, though that figure reflects a shift of just over 1% toward betting and iGaming compared to H1 2025.
Gross gaming revenue from lottery games reached €254.5m for the six months ending 30 June, up from €246.1m in the equivalent period last year, supported by the new Milli game and higher Lotto jackpot levels.
Digital channels are increasingly central to the Veikkaus growth story, with digital-only lottery GGR climbing 9.1% year-on-year and digital now responsible for 64.5% of total GGR, up 3.6% year-on-year.
Fennica Gaming, the international lottery and gaming B2B subsidiary of Veikkaus Group, delivered explosive growth of 80.6% year-on-year, generating €10.3m in H1 2026 compared to €5.7m in H1 2025.
That international expansion has included major strategic activations in Canada and Italy, alongside a strengthened presence across Germany, Mexico, the Czech Republic, and Iceland.
While Veikkaus will lose its exclusive rights over betting and online casino games when licensed competition opens on 1 July 2027, it will retain exclusivity over lottery, slot machines, scratch cards, and physical table games.
The operator is also restructuring its data and AI unit, with 15 existing roles set to end and 17 new roles created in their place as the business prepares for a more competitive landscape.
Reija Airas, EVP of people, culture and communications at Veikkaus, addressed the internal changes directly, stating: “What is essential in this change is that the focus and content of work will change: while some current roles are planned to end, more new roles are being created in terms of number. We want to ensure that we are ready to meet future requirements with our strong expertise.”
Looking further ahead, Veikkaus is also planning to enter the international B2C gambling market before the end of the decade, signalling broader ambitions beyond its traditional domestic role.
