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Veikkaus Expects €300M Profit Hit from Covid-19

Veikkaus, the gambling monopoly operator of Finland, is expecting a fall by as much as €300m in its 2020 profits, after reporting a 28.1% year-on-year decline in gross revenue and 33.6% drop in its H1 profit.
Gross gaming revenue for the six months to 30 June fell to €607.2m, with Veikkaus estimating that the total was down by around €200m as a result of the disruption caused by novel coronavirus
The operator’s revenue from casino games falls 46.0% to €243.2m, comprising €137.8m from slots in Veikkaus’ arcade and partner network (down 58.8%) and a €105.4m contribution from other casino games (including online), down 9.1%.
Veikkaus noted that online’s share of revenue grew 11.8% points to 44.1% of the half year total. However, it said this was more down to the retail decline than evidence of players migrating online. Online player numbers were up 21% year-on-year over the six months, it noted.
Revenue from the operator’s online casino games fell marginally year-on-year, to €101.0m. Land based slots’ contribution may decline further, with Veikkaus looking to reduce the number of machines in operation to 10,500 by the end of 2020.
Sports betting revenue across all channels also declined, falling 21.9% to €58.1m. For lottery, the decline was more marginal, with H1 revenue down 4.3% at €305.9m.
“Like many other operators, Veikkaus had an exceptionally challenging spring. Due to the Covid-19 pandemic, our contribution to society will fall significantly below previous levels,” Regina Sippel, chief financial officer of Veikkaus, said.
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Favbet × Spinner: An Exclusive Live Studio That Has Already Gained Recognition in Ukraine

Ukraine now has its first full-fledged Ukrainian-language live product, created by local specialists for local players.
The format combines modern technology with national identity, turning gameplay into a space where native language is heard from the very first moment.
Favbet opened a new opportunity for the market in the live segment. Without waiting for audience demand, the company shaped it itself, introducing its own branded live studio powered by Spinner. This proactive step secured Favbet’s reputation as an innovator that sets standards and creates trends.
The project was entrusted to Spinner — a modern and ambitious B2B provider with Ukrainian DNA and technological expertise, capable of delivering a fully branded studio in the state language. The partnership united shared values, high standards, and a clear understanding that players choose content closest and most relatable to them.
The studio’s atmosphere reflects Ukrainian character and hospitality. Hosts communicate in a relaxed manner, respond in real time, keep conversations flowing, and add light humor. It is a place players come not only for the game but also for live interaction and a sense of community.
Deep customization, Ukrainian-speaking hosts, and instant support create the comfort level every Favbet user deserves. Demand has grown so rapidly that in just one year the number of tables doubled from six to twelve.
Most importantly, these games are available exclusively on Favbet’s website and mobile applications.
Favbet × Spinner made Ukrainian the foundation and raised the quality bar to the level of global best practices.
PARTICIPATION IN GAMBLING CAN LEAD TO ADDICTION. PLEASE FOLLOW RESPONSIBLE GAMING PRINCIPLES.
License for online casino operations dated 20.04.2021 issued to LLC “BC Favbet” under CRGL Decision No. 137 of 05.04.2021 (as amended), and license for bookmaking operations dated 28.12.2022 issued to LLC “BC Favbet” under CRGL Decision No. 433 of 13.12.2022.
The post Favbet × Spinner: An Exclusive Live Studio That Has Already Gained Recognition in Ukraine appeared first on European Gaming Industry News.
Latest News
Cubeia announces Cubeia Platinum Freeroll at SiGMA Poker Tour Malta

Cubeia, a Sweden-based iGaming software solutions provider, is proud to announce the Cubeia Platinum Freeroll as part of the SiGMA Poker Tour in Malta. The exclusive live event takes place on Friday, 5 September at 9PM at the prestigious Portomaso Casino in St. Julian’s.
The tournament will deliver an electrifying poker experience in one of Europe’s leading gaming hubs. Over five nights, players can settle into the high-stakes action, complemented by elevated VIP experiences, world-class accommodation, and unmissable entertainment.
With a substantial €150,000 guaranteed prize pool up for grabs, the Tour will be a standout event during this year’s SiGMA Euro-Med Summit. As part of the tournament, Cubeia’s Platinum Freeroll gives Platinum badge holders special entry to take part in the action. With free entry, a €5,000 prize pool, and limited seating, this freeroll combines high stakes with a truly exclusive player field.
Whether a seasoned pro or a recreational enthusiast, the SiGMA Poker Tour and Cubeia Platinum Freeroll offers competitors the chance to showcase their skills, and immerse themselves in the ultimate poker atmosphere, amongst the global iGaming movers and shakers.
Cubeia’s Head of Poker Simon Isbäck commented: “It’s a privilege to team up with SiGMA to host the Cubeia Platinum Freeroll at the SiGMA Poker Tour. Every opportunity we have to showcase our passion for poker is one we go all in for. Giving Platinum badge holders entry to the exclusive chance to experience live tournaments at one of Europe’s most iconic casinos – certainly not one to fold on!”
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Embrace Your Inner Maverick in Hacker’s Haven

No soft launch. No warnings. Hacker’s Haven is here
DEGEN Studios is live, and we’re not here to play safe. Introducing our debut slot, Hacker’s Haven. You’re not a player, you’re a disruptor. It’s time to plug in, jack up, and start hacking.
Now live through Yggdrasil’s distribution network, Hacker’s Haven offers exhilarating features, huge wins of up to 20,000x your stake, and a real-world inspired design.
Join a mysterious Hacker as he works his magic across the reels. Utilise an arsenal of digital tricks, including Multiplier Wilds, Cascade-triggering Virus symbols, and innovative Free Spins to secure huge wins.
The Hacker is not just a character. He’s one of you. A real-player reimagined on the reels. He embodies everything we stand for: disruption, defiance, and rebellion. This is not just a game. It’s an invitation. A rallying cry for players to embrace their inner maverick and help DEGEN Studios change the game.
DEGEN Studios said: ‘Hacker’s Haven is not just our debut slot, it’s a warning shot. We didn’t come here to follow trends; we came to break them. Our games are ‘built by gamers, for gamers’, and this commitment is on full display in Hacker’s Haven.
“Brace yourselves. This is just the beginning.”
The post Embrace Your Inner Maverick in Hacker’s Haven appeared first on European Gaming Industry News.
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