Deregulation and reregulation of national gaming laws is taking place in many European countries and Sweden is now, finally, becoming one of them. Finland, isn’t, but that doesn’t stop NetEnt to find a way to expand its horizon in the country. To do so, NetEnt has signed a customer agreement with Finnish state-owned Veikkaus, the largest and only licensed gambling operator in Finland both offline and online.
NetEnt’s expansion in Northern Europe
Deregulation and reregulation of national gambling laws is taking place in many countries and NetEnt closely monitors the development in these countries. Established in Sweden, it’s no secret that NetEnt looks forward to the new gaming legislation in Sweden.
NetEnt obviously welcomes the re-regulation in Sweden. Expansion in locally regulated markets is an important part of NetEnt’s business and sustainability strategy. These regulated markets accounted for 35 percent of revenues in the third quarter and this number continues to growth with the number of countries regulating online gaming still growing.
Besides NetEnt being pleased that its country of origin becomes part of their business strategy, the company truly believes that this development creates a better environment for both players and iGaming companies. The new gaming law means that all qualified operators have to obtain a casino license with all companies being forced to obey certain laws and rules which will be closely monitored by a gaming authority as this is the case in many European countries.
The Swedish gaming commission presented its proposal for new gaming legislation in March 2017, and according to the government, the new legislation shall be introduced in the beginning of 2019.
Sweden will be the second of the Nordic countries that regulated online gambling and the second country in the region NetEnt is having a license as it was in 2012 that the Danish market was regulated. Not long after, NetEnt was certified. NetEnt’s games are offered through several operators, including Danske Spil.
However, it’s not only Sweden that is responsible for NetEnt’s growth in the Nordic iGaming market as it was in September this year that the NetEnt Games went live with Norsk Tipping (Norway’s state lottery) while NetEnt recently announced that Finland’s state-owned gaming operator Veikkaus is in the pocket as well.
2018 has been a great year for NetEnt’s presence in Northern Europe and several developments took place in the second half of the year:
NetEnt games live with Norsk Tipping
Following completed integration, a selection of NetEnt’s award-winning online casino games went live with Norsk Tipping, the state lottery in Norway. The games were provided through an agreement with IGT.
NetEnt selected as supplier to ATG for the re-regulated market in Sweden
NetEnt enters into an agreement to supply its award-winning online casino games to Sweden’s main horse racing operator AB Trav och Galopp (ATG), as the new Swedish gambling law takes effect on January 1st, 2019.
Contract signed with Finland’s national gaming operator Veikkaus
NetEnt announces that the company has entered into a license agreement with Finland’s state-owned gaming operator Veikkaus. NetEnt will supply a broad range of its popular digital games to Veikkaus’ online casino.
NetEnt signs contract with Svenska Spel ahead of Swedish market re-regulation
NetEnt signed a customer deal with Svenska Spel Sport & Casino AB to supply a wide selection of its online casino games as the re-regulated gambling market in Sweden opens on January 1, 2019.
All the above operators are members of the important World Lottery Association (WLA), world’s largest professional association of state lottery and gaming organizations from over 80 countries on 6 continents. With NetEnt becoming an associate WLA member in March 2016, the company became able to reach a larger player base and generate additional revenues in the years to come and the above customer agreements signed are the proof of that.
NetEnt’s deal with Veikkaus
Even though not all Nordic countries regulated online gambling, NetEnt seems to have a focus to strengthen its position in all of its online casino markets anyway. NetEnt reached an important milestone signing the online casino supplier agreement with Veikkaus.
Thanks to the deal, NetEnt will supply a wide range of online casino games to Veikkaus’ online casino. A great move forward for NetEnt in Finland with Veikkaus being the largest and only licensed gambling operator in the Nordic country. The deal involves an amazing 2 million customers who will soon be able to enjoy NetEnt’s great portfolio of online casino games.
Henrik Fagerlund, MD NetEnt Malta and Chief Product Officer of NetEnt, says: ”We are very proud to enter this collaboration with Finland’s largest gaming operator Veikkaus. The deal is an important milestone for our presence on the Finnish market and I am convinced that our thrilling games will be much appreciated by Veikkaus’ players.”
The commercial launch of NetEnt’s online games with Veikkaus is planned to take place in the first half of 2019. The agreement involves a period of four years and the total estimated revenue value for NetEnt over this period is in the range of € 5 and € 9 million.
“We are delighted to partner with NetEnt, known for its iconic games and innovative gaming solutions. NetEnt’s games have been proven to perform well and are constantly asked by our loyal customers. We are excited to be able to offer them soon in our online casino”, says Jan Hagelberg – Veikkaus Vice President, Casino Games.