Veikkaus reported declining sales in 2024, continuing a long-term downward trend for the Finnish monopoly, which it expects to turn around once the online market launches in 2026.
In its 2024 full-year results published [Wednesday], Veikkaus saw sales revenue decrease 7.3% year-on-year to €956.2 million ($1.02 billion). The group’s operating profit also dropped 19.6% to €466.8 million.
It attributed the operating profit decrease to its “significant investments” and an increased lottery tax of 12%, up from 5% the previous year. In total, the company paid €114.2 million in lottery tax to the Finnish state in 2024.
Gross gaming revenue was impacted by games requiring new certifications, as new rules around ticket-based and scratch card games came into force in 2023 and 2024.
