Finnish National Lottery operator Veikkaus has released a statement concerning heightened competition in the digital market, and has seen revenue fall after posting their financial details from the second quarter of 2018. This comes after a series of improved gaming restriction controls were released that has hit a number of online operators.
Turnover for Veikkaus has fallen by 0.3% to $1.853 billion, although overall profit has increased by 2.5% to $505.5 million. Veikkaus explained in a statement that 42.9% of all of its sales were made through digital channels, and the figure is relatively flat as compared to the 42% that was reported in 2017. The latest statements come after a full year since Veikkaus completed a three-way merger with Finland Slot Machine Association, as well as Fintoto.
Olli Sarekoski, CEO and president of Veikkaus, told reporters that the company is currently in the midst of a transitional period, and explained that a new gaming restriction concept had reduced growth of their digital GGR in the first six months of this year.
In August last year, Veikkaus rolled out a new online store in an attempt to enhance their digital business in the country, and all games provided by the operator and its three businesses were now linked under a single account for players.
Despite the loss in revenue, Veikkaus is the dominant operator in terms of Finnish GGR, with a total of 89% control of the market, but Sarekoski has confirmed that more changes are coming in the future.
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