Veikkaus GGR Falls 4% in Full-year 2019

Veikkaus, the Finnish monopoly operator, has reported a full-year gross gaming revenue (GGR) of €1.69bn ($1.87bn) for 2019, down 4% year-on-year. The profit for the period was €1bn, a drop of 1%.

Lotto was the best-performing segment, with revenue increasing 9% to €205.2m.

The decline in GGR was mainly due to the decrease in market share, which was 85%, down 1% year-on-year.

“The year 2019 was challenging to Veikkaus business-wise. The provision and marketing of foreign online games increased. This led to a decrease in our market share and a drop in gross gaming revenue. Under these circumstances, the profit we have made by focusing on cost-effectiveness can be considered good,” Regina Sippel, Veikkaus CFO, said.