According to Veikkaus – the Finnish gambling operator owned by the government – a recent situation in the gaming market is marked by profit decrease. The significant fall in the major market segments is caused by only one reason.
Total market profit fell to €1.69 billion from €1.76 billion, as it was announced in primary gambling news. If to consider the decrease by gaming categories, casino profit declined by 3 percent, bookmaking – by 8.5 percent, and the lottery segment – by 4 percent, in comparison with 2018. Veikkaus’ share was approximately €309 million less in 2019.
The gambling operator tried to lower expenditures connected with services operation, marketing costs and other related expenses. However, it didn’t help to cover a big profit gap and to improve the situation on the whole.
What is the major reason for the decrease?
Veikkaus has stated that such revenue reduction is caused by the strict regulations which have been applied to the Finnish gaming industry. The regulations are based on the online gaming restrictions that protect players from negative gambling effects. It was an important step for the operator as these preventive measures showed its responsible attitude towards the gambling industry.
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