Finland grants its first 12 gambling licences: biggest name still missing 

Finland has issued the first twelve licences for its future online gambling market. Among the licence holders is SuomiVeto, the company founded by former BetCity owners Joey Singels and Melvin Bostelaar. State-owned gambling operator Veikkaus is not yet on the list. However, the newly licensed operators cannot start operating immediately: the market will not open until July 1, 2027. 

First licences confirmed following information request 

By October 26, 2026, Finland’s National Police Board had received a total of 79 licence applications. Of these, twelve had been approved and none had been rejected. This was revealed through information obtained by iGaming Business from the Finnish regulator. 

Several companies had previously announced that their applications had been approved. The response to the information request has now also confirmed the total number of licences issued. 

The twelve licence holders named are Hippos ATG Oy, Sunflower Gaming Limited, Granturo Finland Ltd, Skill On Net Ltd, SuomiVeto Oy, Cloudberry Ent Limited, SixthSpin Limited, KuuFlip Limited, RocketLily Ent Limited, Nivei Ursi Limited, YTBlue Limited and Buccone Trading Limited. Granturo Finland belongs to Wildz Group. 

The list contains the companies’ legal names, which do not necessarily match the brand names players will eventually see on websites and in advertisements. The absence of rejected applications also does not mean that all remaining applications will automatically be approved. 

Former BetCity owners take the next step 

SuomiVeto is particularly noteworthy for Dutch readers. The company is backed by Joey Singels and Melvin Bostelaar, who were previously involved in building and selling BetCity. 

Gambling Club previously reported on SuomiVeto’s plans for Finland and its partnership with Bragg Gaming Group. This partnership is intended to provide the company with the technical foundation for its new gambling offering. 

Obtaining a licence marks an important milestone for SuomiVeto. The company can continue its preparations knowing that its application has been approved. However, this does not mean that the platform can immediately open to Finnish players. 

Their experience with BetCity gives the founders knowledge of a market opening in which commercial operators begin operating under a national licensing system. Whether SuomiVeto can use that experience to establish a strong position in Finland will only become clear after the market opens. 

Hippos ATG also gains access to the new market 

Another notable name is Hippos ATG Oy. The company is a joint venture between Swedish horse racing betting operator ATG and Finnish equestrian organisation Suomen Hippos. 

Alongside international casino companies, the list therefore includes an operator with strong roots in horse racing. Hippos ATG had already announced its licence approval. The information provided by the National Police Board confirms that it belongs to the first group of approved companies. 

The varied backgrounds of the licence holders show that the reform is attracting different types of operators. Which brands will actually be available from the first day, and what games and betting products they will offer, will become clearer as their preparations progress. 

Why Veikkaus is not yet on the list 

The absence of Veikkaus has attracted attention. The state-owned company currently holds an exclusive position and has also submitted an application for the future competitive market. 

However, there is no reason to interpret its absence from this list as a rejected application. As of the reporting date, the regulator had not recorded any rejections. The first twelve licence approvals represent an interim update. 

Meanwhile, Veikkaus is preparing for a changing commercial environment. Once other licensed companies are allowed to operate, it will face online competitors seeking to attract Finnish customers. 

This transition is not unexpected. Gambling Club previously described how Veikkaus is preparing its digital operations for competition. Technology, digital expertise and modernising its gambling offering were among the main priorities. 

A licence does not mean operators can launch immediately 

For players, the most important detail is the effective date. According to the Finnish police’s official explanation of the gambling reform, the new licences cannot take effect before July 1, 2027. Operators may only begin their activities once their licences become valid. 

Veikkaus will retain its exclusive rights in mainland Finland until June 30, 2027. A company receiving a licence under the new system therefore cannot use it to enter the market early. 

The reform distinguishes between gambling activities that will be opened to competition and those that will remain subject to an exclusive licensing system. Online casino games and sports betting are among the activities being liberalised. Lotteries, scratch cards, land-based slot machines and land-based casino games will remain under a monopoly model. 

Finland aims to bring more gambling under national supervision 

The Finnish government has linked the market opening to two objectives: preventing and reducing gambling-related harm, and bringing a greater proportion of gambling activity under national regulatory supervision. 

The latter is generally referred to as channelisation. It measures the extent to which players use operators subject to their own country’s laws and regulatory oversight. 

Issuing more licences does not, in itself, show whether this objective is being achieved. After the market opens, research will be needed to determine where players actually choose to gamble. 

This question is also relevant in Belgium. Gambling Club previously investigated why players turn to illegal gambling websites. The findings highlight why the appeal of unlicensed gambling cannot be explained by a single factor. 

This context also shows why opening the Finnish market to competition does not automatically mean that illegal gambling services will disappear. 

New regulator takes over in July 2027 

During the transition period, the National Police Board is responsible for processing licence applications. From July 1, 2027, the Finnish Supervisory Agency will take over licensing and regulatory supervision. 

That date will therefore mark both the opening of the market to commercial licence holders and the transfer of regulatory responsibilities. 

Until then, approved companies must prepare their organisations and systems for the new market.