Veikkaus, a gambling operator in Finland has released its results for the first half of the year.
Overall, actual sales revenue includes gross gaming revenue and turnover from other business activities. This covers the period between January and June of this year. It has reached €484.8 million or $535.4 million. This represented a 6.8% drop off year-on-year.
Veikkaus says the authentication requirement for physical ticket-based games was introduced in 2023. As a result, there was a 21% decrease in gross gaming revenue specifically.
This led to a 44% decline in this area, following the authentication requirement for scratchcards.
Nonetheless, despite this, Veikkaus’ number of customers increased. This is while the share of the digital channels our of gross gambling revenue rose to 60.5%.
Operating profit for the period reached €246.9 million. This represents a 20.4% drop compared to the same period last year. This decline is assigned to significant investments and a rise in the lottery tax.
Veikkaus Oy’s revenue from gambling operations declined 7% to €482.8 million. This is while it operates profit fell 20.1% to €250.2 million.
Regina Sippel, CFO of Veikkaus, said that during the first half of the year, they implemented Veikkaus’ strategy as planned. They invested in both business development and international growth. Fennica Gaming reached a significant results during the first half of the year, and the future Outlook is bright.
She added that the upcoming overhaul of the gambling system is a great opportunity for Veikkaus. They will continue to invest in business development and focus on providing the best customer experience.
According tot results-based news, Genting Malaysia Berhad has reported its financial results for H1 and second quarter of the year. It shows an 8% revenue rise during the Q2 of 2024.
