Finland’s main opposition parties are split on whether the state should sell Veikkaus, the national gambling operator, as the country prepares to open its online market to licensed private operators on 1 July 2027.

The Social Democratic Party and the Centre Party have both signaled that a sale deserves consideration once the licensed market is in place. Liike Nyt has gone further, calling for full privatisation and a stock exchange listing. The clearest opposition to any divestment comes from the Left Alliance, which argues that Veikkaus remains a dependable source of public revenue.

Mikkel Näkkäläjärvi, SDP Party Secretary, said: “The state has in this situation no particular strategic interest in owning a gaming company.”

Government coalition parties have taken a more cautious line. The National Coalition Party said a civil-service review is needed before any decision can be made. The Swedish People’s Party declined to comment, noting that Minister Joakim Strand holds responsibility for ownership steering. The Finns Party and the Christian Democrats stopped short of backing or outright rejecting a sale, but cautioned against directing any one-off proceeds toward recurrent public spending. Both parties also said gambling-harm prevention must remain central to whatever ownership decision is eventually reached.
 

Valuation Draws Private Interest

Commercial interest in a potential transaction is already visible. Jari Vähänen, an industry consultant who previously held a senior role at Veikkaus, said several gaming companies had approached him to ask whether the business might become available. He valued the entire Veikkaus group at up to €4.5 billion, based on a 10-times multiple applied to the company’s annual gaming surplus of €450 million. On his estimate, the digital operation alone could be worth between €1 billion and €1.5 billion, with the remaining monopoly business accounting for roughly €3 billion.

Vähänen also flagged risks to that valuation. He said the outcome depends significantly on whether Veikkaus can carry its existing customer base into the licensed regime, placing the size of the legacy database at up to 2.5 million customers. Starting the open-market phase with that base would give Veikkaus an immediate scale advantage over new entrants. He also noted that the company’s returns have nearly halved over five years, which limits the time available to resolve the ownership question. A prolonged delay increases the risk of further value erosion once competition begins.

Government ownership officials have signalled that a near-term sale is not in prospect. Maija Strandberg, director at the Government Ownership Steering Department, pointed to 2030 as a more realistic horizon and said several preconditions would need to be met first, including legislative changes, sound corporate governance and a market environment that supports a transaction. 

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