This article is an overview of the original feature published by Kauppalehti on July 7, 2025. Read the full article here in Finnish.
Finland is on the verge of a historic shift in its gambling industry. Kauppalehti, leading business publication in Finland, recently explored this transformation in an in-depth article, outlining the impacts of the new licensing model for online gambling and spotlighting companies already preparing for the change — including Finnplay.
For decades, Veikkaus has held a monopoly on gambling in Finland. Now, the government is preparing to open the online gambling market to licensed operators. This major reform is expected to be approved in autumn 2025, with the new system launching in 2027. According to Finland’s Competition and Consumer Authority (KKV), an estimated €800 million in gambling revenues are currently flowing to foreign operators — funds that could soon be redirected to the domestic market under the new regulatory regime.
As one of the local technology providers already active in several regulated markets, Finnplay was highlighted in the article as a key player preparing for the shift. Managing Director Jaakko Soininen noted that the opening of the Finnish market is the company’s single most important strategic opportunity over the next three years.
Finnplay’s core offering — a compliant, modular gaming platform — enables operators to manage player accounts, meet regulatory requirements, and maintain operational integrity. The company operates exclusively in regulated markets such as Sweden, Estonia, and the Netherlands, and has already signed letters of intent with several potential partners in Finland.
The article also shared Finnplay’s strong financials from 2024, with revenue growing 37% to €15.5 million and a net profit of €5.1 million, supported by a high operating margin of 41%.
The Kauppalehti feature also discussed other supporting players in the gambling ecosystem, including platform providers, game developers, payment processors, and legal consultancies — all of which will play a crucial role in enabling a healthy and compliant market.
Estimates suggest 30–40 operators may enter Finland, primarily international brands. However, many are expected to run operations remotely, with only the most competitive surviving the post-launch phase.
KKV estimates the size of Finland’s licensed iGaming market to fall between €500 million and €1 billion in gross gaming revenue. The article also mentioned that player behaviour is expected to shift, with more users channelling their gameplay into regulated environments — following the trend seen in Sweden, where the market grew by 30% after similar reforms.
While the market opening is welcomed, experts in the article also highlighted the importance of addressing gambling-related harm. Legal experts and public authorities stressed that any successful licensing model must also include effective player protection mechanisms.
At Finnplay, we share this view. As a company operating solely in regulated markets, we believe a responsible and transparent ecosystem is key to long-term success.
For the full original article in Finnish, please click here.