Veikkaus’ year 2017: The first year of the new Veikkaus went according to expectations
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Veikkaus’ financial result for the year 2017 turned out as expected, amounting to EUR 1 021.3 million. During its first year of operations, Veikkaus invested especially in the smooth functioning of the gaming operations, integration of the game systems and ways of operating, as well as the development of responsible gaming tools. The new Veikkaus was born when the three former gaming operators Veikkaus, RAY, and Fintoto were integrated at the beginning of 2017.
The profit of the new Veikkaus exceeded the projected amount to be distributed to the beneficiaries, recorded in the State Budget 2017, which was EUR 1 003.5 million.
– The first year of the new Veikkaus was successful in spite of the challenges associated with the integration, and we were able to generate the projected profit to our beneficiaries, says Veikkaus’ President and CEO Olli Sarekoski.
The share of identified gaming of all playing of Veikkaus games went up to 40.6% (+1.6 percentage points). Increasing identified gaming is one of Veikkaus’ core strategic objectives.
– Identified gaming helps us to offer our customers even more responsible tools for gaming management. Last year we renewed the Veikkaus Card, which now enables our customers to play identified even on slot machines, says Sarekoski.
In 2017 we also adopted tools for the management of online gaming, which are unique in an international setting; and the Loyal Customer Programme, which has two million members, was supplemented with new features supporting responsible gaming. Further, Veikkaus made a decision to launch a strategic project, which aims at as extensive identification as possible on decentralised slot machines starting from 1 January 2023.
The Finnish gaming market totalled ca. EUR 1 978 million in terms of GGR in 2017. This meant a growth of one percent. Veikkaus’ share of the total market was ca. 90%. There is competition especially in the field of digital gaming, where even foreign operators are active.
Gaming moving increasingly over to digital channels
One of the year’s most significant achievements was the launch of the new online store veikkaus.fi, and the integration of the old operators’ game accounts. Veikkaus.fi online service had an average of 525 000 buying customers a week, and a total of 1.3 million customers during the year. Mobile gaming is increasing in popularity, and at the end of the year, 44% of the digital sales came from gaming on mobile appliances.
Among the game groups, our customers favoured especially Slot Machines and Instant Games, and Skill Games. The games to increase their popularity most were fixed odds betting games, table games, and digital slot machine games. The launch of Kulta-Jaska 2 slot machine game was particularly successful, both on slot machines and at veikkaus.fi. The popularity of the new Lucky game, Kaikki tai ei mitään, also exceeded expectations.
Financial profit to society
Veikkaus’ direct financial profit to society during the year under review can be calculated to amount to a total of EUR 1 273.8 million. The company returned EUR 537.8 million to the Ministry of Education and Culture, EUR 436.3 million to the Ministry of Social Affairs and Health, and EUR 40.6 million to the Ministry of Agriculture and Forestry. Further, the company paid EUR 212.8 million in lottery tax to the State, and the financial result was affected by the cost impacts of a total of EUR 46.3 million of VAT paid.
Best regards,
Pipsa Öhman
Communications Specialist
Veikkaus Oy
Postal address: PL 1, FI-01009 Veikkaus, Finland
Tel. +358 9 4370 8157
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Veikkaus is a Finnish gaming company with a special mission. We want people to play our games safely and with moderation.
Almost all adult Finns play our games; we have over two million loyal customers.
Thanks to the players, over one billion euros a year are accumulated for the common good. The gaming revenue is used to offer people chances for better lives.
CHANCES. VEIKKAUS.