Veikkaus launches international B2B division
Finnish monopoly firm unveils Fennica Gaming and first round of operator partnerships in new business venture
Veikkaus has launched its new B2B division Fennica Gaming as it looks to expand its operational output.
The Finnish monopoly operator elected to launch international B2B operations following the adoption of a new Lotteries Act in Finland.
The launch of the B2B division was given the green light by the Veikkaus board, including CEO Olli Sarekoski and CFO Regina Sippel.
The new company will be led by Timo Kiiskinen, former SVP of new business at Veikkaus.
Fennica Gaming has already partnered with Norsk Tipping and Svenska Spel for series of games.
The division has also linked up with the Lotteries Entertainment Innovation Alliance, having signed a business contract.
Fennica Gaming MD Timo Kiiskinen welcomed the greenlight, coming as it had after “long and thorough” preparations and planning.
“We are living historic moments in our industry. The new company enables us to commercialise the gambling industry expertise that we have in Finland,” he added.
Joni Hovi, Fennica Gaming SVP, added: “We are working passionately to develop our customers’ game business through high-quality gaming content, reliable solutions, and responsible player understanding. In our view, it is always important to think about the players.”
In March, Veikkaus posted a 12.7% downturn in EBITDA for full-year 2021 as the Finnish monopoly operator grappled with the impact of Covid-19.
The firm also handed out almost 200 employee redundancies in late 2021 as part of a restructuring process.