Veikkaus’s GGR Declines by Net Profit Is Stable in H1 2021

By | September 1, 2021

The Finnish monopoly gambling operator, Veikkaus, has published a report on the results of the first half of 2021 in the latest financial news.

In the report, the operator estimates that it won’t be able to gather the projected profit of €778m by the end of the year.

Global pandemic and new gambling regulations led to GGR decrease

In the first six months of 2021, Veikkaus’s total net financial profit was relatively the same as in H1 2020 (€330.2m), declining only by 0.8%. However, the gambling monopoly was only able to collect €527.1m in GGR, compared to 2020’s €607.2m.

The operator attributes a 13.2% fall in gambling profits to the COVID-related restrictions, as the slot machines and arcades were closed for most of 2021. Veikkaus states that it had lost around €150m on the closure of venues. 45% of the gross gaming revenue came from land-based casinos and slot rooms in H1 2021, while 55% of gatherings were from online casino sites.

The gambling reform, implemented in January 2021, has also affected the monopoly’s financial results. In particular, the reduced loss limits and identity verification systems were implemented for slot machines and casino games. In the first half of 2021, near 75% of gambling products by Veikkaus required a mandatory player authentication. The company hopes to increase this rate to 100% by 2023.

GGR collected from gambling products at Veikkaus

Type of games

GGR in H1 2021

Change from H1 2021

Lottery

€316.6m

-4.3%

Casino games

€134.2m

-38.5%

Sports betting

€76.3m

+31.4%

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