Finland set to unify its state owned gambling operators

State owned gambling operators Veikkaus, Raha-automaatttiyhdistys (RAY) and Fintoto are set be merged into one unified enterprise.

National news sources have detailed that the decision was undertaken by Finland’s Cabinet Committee on Economic Policy last September following are review of current market conditions.

The merger of the three operators by the cabinet is intended to maintain domestic gambling market exclusivity, with a further core focus on raising more money for national charitable organisations.

Merger initiatives are said to have begun, with the governances of the three operators being tasked with finding corporate synergies, in order ease the merger which will see the formation of a new state owned gambling brand.

Finnish news reports have stated that the new gambling enterprise will look to launch by late 2016.

Finland’s gambling industry is estimated to generate 1.7 billion in revenues per year (period 2014). The region is considered to be one of the most lucrative markets for online gambling operators to target, as Finnish gambling consumers have amongst the highest revenue yields in Europe.

The Finnish government has stated that it aims to maintain monopoly practices for its gambling market, amid the rise in popularity of international online gambling operators targeting its consumers.

The popularity of international operators has led to multiple gambling stakeholders urging the government to stamp-out remote gambling enterprises