Finnish Gambling Operator Dismisses Reports Of €11B Turnover

Finnish Gambling Operator Dismisses Reports Of €11B Turnover

Veikkaus, the state-owned Finnish gambling monopoly has rejected the media reports which claimed that the players in Finland have wagered to the tune of €11 billion (or $12.22 billion) on the operator’s gambling machines.

The media reports drew a lot of flak for Veikkaus as it has already been facing criticisms for being lax in implementing measures to reign in increasing gambling addiction in the country.

The reports of higher spending on gambling machines saw critics pointing out at Veikkaus’s inefficiency in controlling gambling addiction.

However, the gambling operator dismissed all such reports and said that it misrepresents the actual sales figures.
Regina Sippel, the Chief Financial Officer of Veikkaus said the media’s figures also included the winnings of the players that were then wagered once more without being withdrawn.

The company said that its turnover for 2018 was about €840.3 million which is far from €11 billion according to the media reports.

Amidst criticisms, Veikkaus has confirmed that they are planning to reduce the number of slot machines over the next few years.

The first six months of 2019 have not been great for the state-run Finnish Gambling monopoly Veikkaus. It has been embroiled in controversies and had been facing criticisms for being lax in implementing social responsibility measures.

In its recent financial report, Veikkaus has posted a six percent decline in overall turnover during the first six months of 2019. The gambling monopoly reported a decline in turnover across most of its games. The company posted a turnover of €1,496.4 million for the first half. Turnover of lottery games was also down 6 percent year-on-year to €630.2 million.

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