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Finnish Minister Says State Should Treat Gambling Monopoly Revenues like Alcohol Profits

Published

5 years ago

August 10, 2021

Reading Time: 2 minutes

Antti Kurvinen, Finland’s minister of science and culture, has proposed that revenues from the state-owned gambling monopoly, Veikkaus, be transferred to the state budget.

On Saturday Kurvinen said that the betting agency’s income is declining, and without a change so will the income of charities and other groups that benefit from its profits. Veikkaus revenues are distributed to organisations in the fields of culture, sports, science, and youth work as well as social welfare and health.

Kurvinen proposed making the change from the beginning of 2024.

“My view is that from the beginning of 2024, Veikkaus’ income should be transferred to the state budget in the same way as, for example, Alko transfers its own dividends and income to the state budget, from which they are used for good purposes,” Kurvinen said.

Kurvinen said that he has reached the same position on the matter as a working group chaired by former Bank of Finland Governor Erkki Liikanen, which last spring proposed a comprehensive reform to divert gambling revenues to general government revenue and transfer current beneficiaries to the budget framework procedure.

The need for reform is due to Veikkaus’ declining income. This is due to a drop in slot machine revenues because of the coronavirus pandemic, as well as measures taken to tackle gambling addiction.

“Without a clear change and reform, we will find ourselves in a situation where the income of Veikkaus’ beneficiaries is constantly falling. This is about the income of Finnish science, culture, youth organisations and especially sports and exercise,” Kurvinen said.

According to Kurvinen, the distribution of Veikkaus revenues through the budget would bring predictability to cash flows, which is essential for beneficiaries.

“Recent years have shown that we are in a strange situation here: the success of a Finnish gaming company determines what kind of resources there are, for example, for top Finnish sports and youth sports or for high-level Finnish research. This creates a strange, uncertain situation,” Kurvinen said.

The problem with the new way of distributing Veikkaus, revenues has been that it would make the funding of beneficiaries dependent on political decision-making.

Kurvinen does not deny that the change would increase the role of political decision-making, but said he considers that a lesser evil than the uncertainty and funding cuts that lie ahead if no reforms are made.

“In the long run, however, it would be clearer and less problematic to make political value decisions than for the success of Veikkaus’ business to be the determining factor in how many opportunities there are for young researchers in Finland or how much art is funded in Finland,” Kurvinen said.

Basketball Federation of Ukraine

GGBET UA and FBU Host “Media Slam”: A Landmark Open Media Event for Ukrainian Basketball

Published

13 hours ago

April 10, 2026

Wladimir P.

ggbet-ua-and-fbu-host-“media-slam”:-a-landmark-open-media-event-for-ukrainian-basketball

In a historic move for Ukrainian sports, the Basketball Federation of Ukraine (FBU) and title sponsor GGBET UA recently hosted Media Slam in Kyiv. This inaugural open media event served as a high-level forum to analyze the regular season results of the GGBET SuperLeague and the recent performances of Ukraine’s men’s and women’s national teams.

Since becoming the league’s title sponsor in January 2026, GGBET UA has prioritized transparency and engagement. The event highlighted a significant milestone: the return of fans to stadiums despite the ongoing challenges of martial law, signaling a resilient recovery for the domestic game.

Highlights and Recognition

The “Media Slam” wasn’t just about statistics; it was a celebration of the sport’s current momentum:

MVP Honors: The regular season’s top five players were officially recognized for their outstanding contributions.
Kyiv-Basket Victory: The Ukrainian Cup winners received a formal check in honor of their championship win.
Market Discussion: Stakeholders engaged in a candid dialogue regarding the increasing competitiveness of the league.

Sergii Mishchenko, CEO of GGBET UA, commented:

“We didn’t get involved in Ukrainian basketball just to have our logo on a banner. This is a systematic approach. We see the increasing interest in basketball and want to be a part of that growth. The tougher the competition, the stronger Ukrainian basketball becomes.”

A Strategic Expansion

Basketball marks a major pillar in GGBET UA’s diversifying sports portfolio. Following high-profile partnerships with FC Dynamo Kyiv, FC Polissya Zhytomyr, and the Usyk vs. Dubois 2 rematch, the brand is now cementing its status as a cornerstone of the Ukrainian basketball ecosystem.

The post GGBET UA and FBU Host “Media Slam”: A Landmark Open Media Event for Ukrainian Basketball appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.

BiS Awards 2026

EGT and EGT Digital have been honored with the Best VLT Solution prize at the BiS Awards 2026

Published

14 hours ago

April 10, 2026

Wladimir P.

egt-and-egt-digital-have-been-honored-with-the-best-vlt-solution-prize-at-the-bis-awards-2026

EGT, in collaboration with EGT Digital, has been distinguished for their joint video lottery product for Brazil at the prestigious BiS Awards 2026, highlighting excellence in the country’s rapidly growing gaming and betting industry. The companies took the accolade in the Best VLT Solution category at an official ceremony held on April 7 in Sao Paulo as part of the BiS SiGMA South America event.

The award comes in recognition of the successful debut of VLT terminals in the regulated state of Paraíba, where they had their first large-scale installation at the beginning of this year, generating strong player interest and demonstrating impressive results ever since.

In addition, EGT’s VLT product has been approved in a Proof of Concept (PoC) process under the Rio de Janeiro State Lottery, and will soon be available to the gaming audience in this state as well.

The omnichannel solution, delivered jointly by EGT and EGT Digital, provides a complete Video Lottery Terminal (VLT) ecosystem, featuring land-based equipment, a technological platform, and a rich library of gaming content. Developed according to the international standards, it has been adapted to meet the specific requirements of the Brazilian market and its regulatory framework.

Celina Guedes, Regional Director Brazil at EGT, commented: “It is an honor to us to be acknowledged by the BiS Awards competition, which is a benchmark for outstanding achievements in the sector. Our complete omnichannel VLT solution is designed to perform across different industry segments and is about to unleash its enormous potential in the near future. The prize is proof that we are able to fulfil the ever-increasing demands placed on providers and even set new higher standards in the extremely competitive gaming ecosystem in Brazil and the Latin American region as a whole.”

The post EGT and EGT Digital have been honored with the Best VLT Solution prize at the BiS Awards 2026 appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.

8bit Binks

S8UL Esports Triumphs in VCSA 2026 Split 1: A Grand Final Masterclass

Published

14 hours ago

April 10, 2026

Wladimir P.

s8ul-esports-triumphs-in-vcsa-2026-split-1:-a-grand-final-masterclass

In a heart-pounding display of tactical precision and mental fortitude, S8UL Esports has been crowned the VALORANT Challengers South Asia (VCSA) 2026 Split 1 Champions. The victory came after an intense five-map Grand Final against Revenant Xspark, where S8UL emerged victorious with a 3-2 scoreline, solidifying their dominance in the regional VCT ecosystem.

With this win, S8UL takes home the lion’s share of the prize pool—INR ₹9,00,000—and sets a high benchmark for the remainder of the 2026 season.

The Road to the Trophy

S8UL’s journey through Split 1 was a testament to their growth following the 2025 season. Their path to the podium included:

League Phase Dominance: Consistent performance against seven of South Asia’s elite teams.
Semifinal Sweep: A commanding 2-0 victory over Asterisk, showcasing a roster peaking at the perfect moment.
The 5-Map Thriller: A back-and-forth Grand Final against Revenant Xspark that tested the limits of both skill and composure.

Strategic Growth and Leadership

The victory highlights the successful vision of Mithul “8bit Binks” Nayak, the driving force behind this revamped roster. Under the leadership of veteran captain Ganesh “SkRossi” Gangadhar, the team displayed evolved coordination and the ability to clutch out decisive rounds under immense pressure.

“Winning Split 1 gives us confidence, but we know the season is long,” said SkRossi. “I’m proud of how the team stayed focused in the crucial moments.”

Impact on the VCT Ecosystem

VCSA Split 1 serves as the critical pathway for South Asian teams to climb into the VALORANT Champions Tour (VCT). By securing the first title of the year, S8UL not only establishes themselves as the team to beat but also positions themselves favorably for international qualification opportunities in Split 2 and beyond.

Animesh ‘Thug’ Agarwal, Co-Founder and CEO of S8UL, noted: “The team showed incredible composure in a high-pressure final. This result is a testament to the work they’ve been putting in behind the scenes. We’ve always believed in this roster.”

The post S8UL Esports Triumphs in VCSA 2026 Split 1: A Grand Final Masterclass appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.