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Veikkaus GGR Falls 4% in Full-year 2019

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5 years ago

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Veikkaus GGR Falls 4% in Full-year 2019
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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.

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Niji Narayan has been in the writing industry for well over a decade or so. He prides himself as one of the few survivors left in the world who have actually mastered the impossible art of copy editing. Niji graduated in Physics and obtained his Master’s degree in Communication and Journalism. He has always interested in sports writing and travel writing. He has written for numerous websites and his in-depth analytical articles top sports magazines like Cricket Today and Sports Today. He reports gaming industry headlines from all around the globe.

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