With the new gambling legislation reform underway, Finland’s governemnt could in the future sell a minority stake in Veikkaus.

While it’s quite clear that during this government term (ending April 2027) a sale of Veikkaus cannot realistically happen within the timeframe, it’s equally clear to notice that in the long run there is no strategic reason for the state to remain an owner.

As one commentator recently put it: “Posti might bring in only small change. The real prize is Veikkaus. The state ownership steering unit surely has precise calculations of Veikkaus’ market value – they are not public. Kauppalehti estimated (25 March 2024) that Veikkaus could be worth between €4–10 billion. Even at the lower end, Veikkaus would rank among Helsinki’s largest listed companies.

Taking Veikkaus public would therefore mean introducing a multi-billion-euro giant to the market – even if it were split and the lottery monopoly carved out. It’s still a long road, but the issue will be on the next government’s table.”

Veikkaus Oy prior to new legislation is the Finnish national betting agency. It is owned by the Finnish state, and has an exclusive betting license in Finland. Veikkaus games are estimated to generate nearly one billion euros a year. The revenue is used for the benefit of Finnish society.