Latest News
Liberalization of Finnish Gambling Market Soon A Reality
Foreign gambling companies are now preparing with greater confidence for the liberalization of the Finnish gambling market. A new coalition that is supposed to be lobbying for the liberalization includes seven foreign gambling companies with strong digital businesses in Europe and around the world.
The recently launched Gambling Industry Association’s purpose is to promote the introduction of a responsible and sustainable licensing system in the Finnish gaming market.
The founding members are the following gambling companies: Betsson, ComeOn Group, LeoVegas, Kindred Group, William Hill, Entain and Flutter.
According to the Helsingin Sanomat article, Kuismanen, who was elected CEO of the Gambling Industry Association, is currently working as Chief Economist of the Finnish Entrepreneurs. He will start his new job as early as mid-January 2023. Prior to that, Kuismanen has worked at the European Central Bank and the Ministry of Finance.
What will his role be then? Kuismanen will promote the views of the companies he represents at a time when the new Finnish government is most likely to consider dismantling the Veikkaus monopoly system. In the future, the gaming license system could therefore also be a reality in this Nordic country, that until now has relied on a monopoly.
In a press release from the Finnish Gaming Industry Association, Kuismanen says that Finland needs a reliable licensing system that operates according to common rules and legislation.
Veikkaus Has Already Shown Green Light
Veikkaus, the Finnish gambling monopoly, itself has already taken the view that the monopoly could be at least partially dismantled. You can read more here. Veikkaus’ own view therefore supports the licensing model. This is easy to understand, given that the company’s share of the total market has fallen to 50%. That is a huge amount of money that is constantly flowing abroad.
The licensing model is an excellent common sense solution for Finland, as foreign gambling companies would then have to obtain a separate license for their operations in Finland. This means that taxes would be paid in Finland, but at the same time the company would be able to market itself visibly and would have to operate under the supervision of the authorities.
If the reforms are adopted and the Finnish gambling market becomes open, all physical gaming machines and, for example, the lottery would remain the exclusive property of Veikkaus. Betting and other digital games, on the other hand, would be made available to players by dozens of different companies.
What Does This All Mean?
Reforms to gambling laws are more than welcome in Finland. The system is exceptionally outdated by European and even global standards and no longer reflects today’s notion of a market economy.
Majority of Finnish gaming professionals have long hoped that the gambling market would be liberalized in Finland too. At the moment, half of all money gambled is already going directly to foreign gambling companies. After reform, Finland would receive considerably more tax revenue than it does at present, and the casinos could also be regulated in the way the government wants.
Veikkaus Expanding Its Business Opportunities: Fennica Gaming
Veikkaus was given the opportunity to expand its business from B2C betting and gaming in the domestic market in Finland with the introduction of the Lotteries Act earlier this year. Indeed, a new Lotteries Act was passed in Finland in 2021, which therefore enabled Veikkaus to expand this new business and launch international B2B operations. Not many citizens knew anything about this and a Veikkaus subsidiary was quietly set up.
The new division of the Finnish state-backed betting monopoly will offer international gaming services and products to corporate customers in various areas of betting and gaming.
After long and thorough preparations, the new business was launched very quickly. Fennica was more than enthusiastic about the new business, as it marked the beginning of a completely new era in the history of Finnish gambling. The new company will enable Veikkaus and Fennica to commercialize gambling talent, of which there is plenty in Finland
Fennica Gaming has already signed its first contract with the Lotteries Entertainment Innovation Alliance. This is a joint venture set up by Veikkaus last year, working with Danske Lotteri Spil from Denmark, Française des Jeux from France and Norsk Tipping from Norway.
The Fennica Gaming casino company is helping Norsk Tipping to build an entirely new gaming portfolio in the entertainment category, called Yezz. The idea is to be stylish, innovative and responsible at the same time.
Fennica Gaming Casino Company Focuses on International Market
As part of Veikkaus’ international B2B division, Fennica Gaming offers gaming services and products worldwide, and the two above-mentioned will combine their product portfolio.
The supplier agreements came about as Veikkaus, a Finnish state-backed operator, reached an agreement between its new subsidiary and Lotteries Entertainment Innovation Alliance.
All of Veikkaus’s activities under the surface seem to us to indicate quite clearly that its monopoly position is gradually being abandoned.
Sector And Background Information
The trade press registers show that Fennica Gaming is active in the design and manufacture of software.
The business description states that its business is to sell, rent and develop games and software related to gambling, lotteries and entertainment games.
Fennica Gaming’s website still provides very little information about the company’s activities and products. This is, of course, understandable as it is basically a completely new player in the industry. This is also reflected on the site, as the company claims to have considerable experience in gambling and its multi-channel development.
Fennica Gaming is an independent provider of gaming solutions and services, born out of the extensive heritage of the industry. The backing company Veikkaus is a well-known gaming operator with nine decades of successful experience in the gaming industry.
Latest News
BetMGM Secures Exclusive Online Casino Content Rights to “Family Feud” and “The Price is Right” with Fremantle Partnership
BetMGM, a leading iGaming and sports betting operator, announced a new and exclusive online casino rights partnership with Fremantle, a world leader in creating, producing and distributing entertainment content for over 100 years. The multi-year agreement secures the intellectual property rights for iconic game shows “The Price is Right” and “Family Feud” for slots, table games, and non-traditional casino games. The partnership establishes the foundation for BetMGM to create customized online casino content around both game show brands.
“This partnership unlocks various ways for BetMGM and Fremantle to collaborate and expand our brand. ‘Family Feud’ and ‘The Price is Right’ are two of the most popular game shows in North America, and we look forward to bringing their fun and excitement to our online casino in various exciting ways,” said Adam Greenblatt, Chief Executive Officer of BetMGM.
During select weeks throughout the upcoming seasons, BetMGM will be featured as a sponsor with exclusive, never-before-seen partnership integrations for “Family Feud” and “The Price is Right”. Throughout 2025 BetMGM and Fremantle will reveal additional details on these planned partnership activations.
Suzanne Lopez, COO of Fremantle North America, said: “Our exclusive deal with BetMGM and our premier game show IP represents a significant milestone for us both. This innovative collaboration paves the way for in-game branding across diverse online casino categories, while also providing opportunities for integrated TV sponsorships. It’s all about enhancing how fans of ‘The Price Is Right’ and ‘Family Feud’ connect with the shows in fresh, immersive ways.”
The company’s award-winning online casino is home to over 3500 titles across North American markets and one of the largest state-by-state exclusive jackpot networks. BetMGM’s jackpot network currently consists of more than 20 game titles including popular games such as MGM Grand Millions, Bison Fury, and Loot’En Khamun and the Dead Sea Scrolls.
Canada
BetConstruct Becomes the First iGaming Company to Offer Both B2B and B2C Licenses in Canada through Affiliate Entity
BetConstruct, a global pioneer in iGaming and sports betting solutions, has announced a significant milestone in the gaming industry. Through its affiliate entity, BetConstruct has become the first iGaming company authorized to facilitate the issuance of both Business-to-Business (B2B) and Business-to-Consumer (B2C) licenses. This remarkable achievement was made possible by obtaining a direct license authorization from the Tobique First Nation in Canada.
The Tobique First Nation, renowned for its innovative and forward-thinking regulatory approach, has entrusted BetConstruct’s affiliate entity with the authority to oversee applications and facilitate the issuance of licenses from its jurisdiction. This partnership underscores shared values of innovation, transparency, and a commitment to responsible gaming practices.
This historic development places BetConstruct at the forefront of the Canadian iGaming market, redefining the opportunities available to gaming operators. By leveraging its affiliate entity’s licensing capabilities, BetConstruct empowers businesses to navigate a streamlined and transparent regulatory environment, unlocking new opportunities for growth and innovation.
“At BetConstruct, we’ve always strived to push the boundaries of what’s possible in iGaming. This landmark achievement with the Tobique First Nation reflects our unwavering dedication to creating opportunities for our partners while upholding the highest standards of responsibility and integrity in gaming,” said Vigen Badalyan, Co-Founder of BetConstruct.
The issuance of dual licenses under the watchful eye of BetConstruct’s affiliate not only highlights BetConstruct’s commitment to supporting its partners but also reinforces the company’s role as a trusted leader in the global iGaming landscape.
This milestone signals a new era for regulated iGaming, as BetConstruct takes bold steps to establish a robust ecosystem for operators and consumers alike. With its direct license authorization from the Tobique First Nation, BetConstruct is setting a new standard for innovation, consumer protection, and sustainable growth in Canada and beyond.
Canada
Great Canadian Entertainment and Petroglyph Development Group Announce Closing of the Acquisition of Casino Nanaimo and Elements Casino Victoria
Great Canadian Entertainment and Petroglyph Development Group Ltd. announced that PDG has closed the previously announced acquisitions of Casino Nanaimo and Elements Casino Victoria from Great Canadian, in historic transactions for both parties. PDG is a wholly owned corporation of Snuneymuxw First Nation (the “Nation”) and is dedicated to realizing the economic potential of the Nation.
The transactions, originally announced on June 24, 2024, for Casino Nanaimo and September 10, 2024, for Elements Casino Victoria, have received all required approvals from the regulatory authorities.
“We are thrilled to have completed these transactions. An incredible amount of work has been undertaken by our corporate team, our on-site teams at both properties, and PDG to achieve this successful closing. I am grateful for their efforts, as well as everyone at the B.C. Lottery Corporation and the Gaming Policy Enforcement Branch, who were thoughtful, diligent, and thorough in facilitating these closings,” said Matt Anfinson, Chief Executive Officer of Great Canadian.
“We look forward to working closely with PDG during the transition period to support the continued successful operation of Casino Nanaimo and Elements Casino Victoria,” Anfinson added.
“We celebrate the closing of our two casino acquisitions and our continued progress toward building a strong Snuneymuxw economy. For decades, Snuneymuxw leadership has worked tirelessly toward this moment, recognizing the connection between a strong economy, self-determination, and the foundation of nationhood. Today, we honour the achievements of those who came before us by securing businesses that will strengthen our Nation for generations to come. Thank you to the PDG and Great Canadian teams for your exceptional work. We look forward to a rewarding partnership with the B.C. Lottery Corporation, driving economic growth for the Nation and Province,” said Chief Mike Wyse.
Erralyn Joseph, President of PDG, said: “This measured acquisition marks an important milestone for PDG as we continue growing a corporate enterprise that reinvests directly into the prosperity of our Nation. With a strong operating plan focused on risk mitigation and yielding sizable returns, PDG continues to generate sustainable wealth for Snuneymuxw. With every step we are realizing our socio-economic potential and influence at a local, national, and global level. On behalf of the Board of Directors, we are pleased to share this news and remain committed to advancing economic growth in support of all residents connected to Snuneymuxw territory.”
“Acquiring these assets marks a pivotal shift for Snuneymuxw and Vancouver Island. This transition will fuel the Island’s economy, strengthening the Snuneymuxw Nation and ensuring the benefits stay local,” said Ian Simpson, Chief Executive Officer of PDG.
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