State-run Finish gambling monopoly Veikkaus is planning to invest up to 8 million euros in expanding its online casino gaming operations.
The company has been facing stiff competition from offshore online casino operators, as such, it has announced fresh investments to diversify the online gaming portfolio and cater to the varied tastes of casino players in the country.
While there have been voices to privatize gambling operations in the country, the government stands firm against any such moves citing consumer protection as their top priority.
The state-run operator holds exclusive license to run both land-based and online casino and gambling operations in Finland.
Despite the monopoly, offshore online casino operators have been tapping into the Finnish market and have managed to acquire a percentage of the market share. With the new investments, the state-run casino is eyeing at combating these challenges and retaining its market share.
According to reports published the Finnish newspaper Hämeen Sanomat the company is already in talks with the online casino content providers and the players can expect to see new games soon.
The unregulated online casino and gambling market has taken quantum leaps in the past few years. H2 Gambling Capital, a gambling consultancy firm estimates that Finnish players wagered over €286 million euros on offshore websites. This market is expanding and could cross €300 million this year.
Veikkaus Head of Casino Games Jan Hagelberg stated in a statement to the press that the online slots would be amongst the first to go live. The company has already inked partnership deals with Sweden’s Yggdrasil Gaming and NetEnt for content distribution.