Finland’s gambling operator Veikkaus has released its results for the first half of 2024. In total, actual sales revenue, which includes gross gaming revenue and turnover from other business activities, for the period between January and June 2024 reached €483.8m ($535.4m), which represented a 6.8% drop off year-on-year. Looking at gross gaming revenue specifically, the authentication requirement introduced for physical sales ticket-based games last year meant there was a 21% decrease, according to Veikkaus.
Following the authentication requirement for scratchcards, this led to a 44% decline in this area. However, despite this, Veikkaus’ number of customers increased, while the share of the digital channels out of gross gaming revenue rose to 60.5%. Operating profit for the period reached €246.9m, a drop off of 20.4% when compared to the same period last year, while profit was down 19.1% to €252.3m. This has been put down to major investments and an increase in the lottery tax.
Looking at parent company Veikkaus Oy, its revenue from gambling operations declined 7% to €482.8m, while its operating profit fell 20.1% to €250.2m. Veikkaus CFO Regina Sippel said: “During the first half of the year, we implemented Veikkaus’ strategy as planned, investing in both business development and international growth. Fennica Gaming reached significant results during the first half of the year, and the future Outlook is bright. “The upcoming overhaul of the gambling system is a great chance for Veikkaus, and we will continue to Invest in business development, and offering the best customer experience. “In other results-based news, Genting Malaysia Berhad has reported its financial results for H1 and Q2 2024, showing an 8% revenue rise during the second quarter of the year.
