ATG accuses Veikkaus of unfair market practices

As Finland prepares to shift from a state-run gambling monopoly to a multi-license model in January 2027, major industry stakeholders are already grappling over the future dynamics of this newly liberalized market. In a notable and potentially contentious move, Sweden’s prominent horse racing and betting company, AB Trav och Galopp (ATG), has raised allegations against Finland’s state-run gambling operator, Veikkaus, claiming it is engaging in conduct that undermines fair competition. These claims, if substantiated, could have serious implications for the Finnish government’s plans to introduce a regulated, open, and fair gambling market.

In a detailed public statement, ATG has alleged that Veikkaus is exploiting its current monopolistic authority to solidify a privileged position ahead of the de-monopolisation scheduled for 1 January 2027. These actions, ATG claims, include attempts to lock in long-term exclusive partnerships and the strategic migration of user bases to entities that may receive future licenses—potentially undermining fair market access for new entrants.

The background: Finland’s transition from monopoly to open market

Currently, Finland maintains a legal gambling monopoly, with Veikkaus operating as the sole licensed provider of gambling services across the country. This system is set to change after increasing pressure from the European Union and internal industry stakeholders advocating for a fairer, more competitive market structure.

On 1 January 2027, Finland intends to launch a new gambling licensing framework. This reform is designed to allow foreign and domestic operators to apply for licenses and operate within a regulated, multi-licensed environment. The goal of the reform is to reduce offshore gambling, increase consumer protection, and improve transparency across the sector.

However, the transition process is far from smooth, particularly as Veikkaus faces scrutiny over its conduct in the pre-reform period.

ATG’s allegations: Preferential positioning and broken partnerships

ATG has raised several concerns about Veikkaus’s actions in the lead-up to the market’s liberalisation. Most notably, ATG claims that Veikkaus terminated a 15-year partnership that previously allowed mutual access to horse racing content between Finland and Sweden. This decision, ATG asserts, has directly blocked Finnish access to Swedish horseracing content and vice versa, isolating both markets unnecessarily and reducing consumer choice.

ATG alleges that the termination was prompted by ATG's refusal to agree to a new long-term deal extending until 2030—well beyond the 2027 liberalisation date. The Swedish operator argues that agreeing to such terms would effectively tie its operations to Veikkaus under an outdated monopolistic framework, undermining its competitive position in the forthcoming open market.

The Swedish operator also claims that Veikkaus is actively securing long-term exclusive contracts with Finnish sports leagues and TV production companies. These contracts, according to ATG, may effectively limit competitors’ access to key content and marketing opportunities once the market opens, thus entrenching Veikkaus's market dominance post-monopoly.

Alleged customer migration strategy

Perhaps the most serious allegation leveled by ATG is that Veikkaus is preparing to transfer a large portion of its customer base—reportedly around one million registered users—from its monopoly operations to a new corporate structure that would apply for a license under the post-2027 regime.

While such a move may appear to be a standard business continuity strategy, ATG contends that it may amount to an unfair attempt to bypass the market-opening process. The concern is that by transferring its monopoly-era user base to a newly licensed entity, Veikkaus could enjoy an undue competitive edge, effectively carrying forward the benefits of its former monopoly into a supposedly level playing field.

ATG is urging regulators and lawmakers in both Finland and the European Union to investigate whether such transfers are permissible under competition law and whether they compromise the fundamental goal of creating a truly competitive marketplace.

Legal backdrop and recent enforcement actions

These allegations come shortly after Veikkaus was fined €2.9 million by Finnish authorities in November 2024 for violations related to advertising restrictions. The company had reportedly exceeded the legal limits on marketing its services, a misstep that may further erode public trust in its ability to responsibly navigate the transition to a multi-license regime.

Amid increasing regulatory scrutiny and the forthcoming restructuring of Finland's gambling sector, Veikkaus has named Jyri Lassi as its newly appointed General Counsel. The appointment is widely interpreted as part of a broader legal and compliance overhaul intended to ensure that the company aligns with evolving standards. However, critics argue that recent conduct suggests the company is still leveraging its institutional advantages to shape the future competitive landscape in its favor.

Broader implications for the Finnish gambling market

If ATG’s allegations are accurate and substantiated by regulatory review, they could fundamentally challenge the legitimacy of Finland’s licensing transition process. The purpose of the reform is to create equal opportunity for all qualified operators, but strategic pre-positioning by the incumbent state monopoly could frustrate those goals.

Industry observers have long cautioned that dismantling entrenched monopoly systems requires careful oversight. Even with new laws in place, old power structures often persist unless explicitly addressed. Exclusive contracts and preemptive market maneuvers are common tools used by former monopolies to maintain dominance under new regulatory frameworks.

A cross-border regulatory concern

The cross-border nature of this dispute further complicates matters. Sweden and Finland, both EU member states, are bound by internal market rules that prohibit anti-competitive conduct and mandate equal treatment of service providers across member states. ATG’s claims could potentially rise to the level of an EU competition law complaint if not resolved domestically.

It remains unclear whether ATG intends to lodge an official complaint with Finland’s competition regulators or pursue the issue at the level of the European Commission. However, the company has signaled its intent to continue monitoring the situation closely and to take legal steps if necessary.

The growing concern of unlicensed gambling

Separately, ATG has also drawn attention to the persistent issue of unlicensed gambling activity in Sweden. In its Q1 report for 2025, the operator highlighted the growing volume of offshore wagering and the challenges regulators face in curbing illegal market activity. These concerns mirror those in Finland, where similar enforcement difficulties are expected if the new regulatory framework is not carefully implemented.

ATG warns that unless fair competition and transparent licensing practices are established, legitimate operators may be discouraged from entering the Finnish market, thereby pushing players toward unregulated alternatives. This could jeopardize consumer protection goals and diminish the financial returns that the government expects from the licensing process.

Conclusion

The dispute between ATG and Veikkaus illustrates the complex and politically sensitive nature of transitioning from a monopoly to a multi-license gambling regime. It is a test not only of Veikkaus’s corporate conduct but also of the Finnish government's ability to deliver a fair and credible reform.

As 2027 approaches, the Finnish authorities must ensure that their regulatory structures promote open competition while also safeguarding consumers. Allegations of anti-competitive behavior must be addressed swiftly and transparently, not only to maintain stakeholder confidence but also to align with Finland’s obligations under European law.

Whether ATG’s warnings serve as a wake-up call or an early sign of systemic failure will depend on how regulators and lawmakers respond. What remains clear is that the stakes—for businesses, consumers, and the integrity of the Finnish gambling market—are exceptionally high.

FAQs

What is Finland’s current gambling market structure?
Finland operates under a legal monopoly model, with Veikkaus as the only licensed gambling operator in the country.

When will Finland liberalise its gambling market?
Finland plans to open its gambling market to licensed competition on 1 January 2027.

What is ATG’s main allegation against Veikkaus?
ATG claims Veikkaus is abusing its monopolistic position to gain an unfair advantage ahead of the market’s opening by signing exclusive deals and migrating customers.

Why did Veikkaus end its partnership with ATG?
According to ATG, Veikkaus ended their horseracing partnership because ATG refused to sign a long-term deal extending to 2030.

What are the risks of Veikkaus transferring customers to a new entity?
Such transfers may give Veikkaus a competitive advantage by carrying over its monopoly-era customer base into the new regulated market.

Has Veikkaus faced regulatory penalties recently?
Yes, Veikkaus was fined €2.9 million in November 2024 for breaches related to advertising restrictions.

Who is Jyri Lassi?
Jyri Lassi is the newly appointed General Counsel at Veikkaus, likely brought in to guide the company through legal reforms.

What are the concerns about unlicensed gambling in Sweden?
ATG’s Q1 report indicated that unlicensed gambling remains prevalent in Sweden, posing risks to consumer protection and legal oversight.

Can this dispute impact EU competition law?
Yes, if unresolved, the matter could escalate to the European Commission as a potential breach of internal market rules.

What does this mean for other gambling operators in Finland?
The situation may discourage new entrants unless the Finnish government ensures a level playing field and prevents anti-competitive behavior.