Hippos ATG, a collaboration between Swedish operator ATG and the Finnish racing association Suomen Hippos, has received a gambling license ahead of Finland's anticipated market opening. As part of a significant regulatory reform, Finland will transition from a state-owned monopoly to a more liberalized online gambling market, allowing private operators to enter starting July 1, 2027.
The granted license, which Hippos ATG Oy will hold for the next five years, was confirmed through an image shared on social media.
Mikael Bäcke, CEO of Hippos ATG, expressed pride in their efforts to establish a compliant company and operational model aligned with the new Finnish legislation. “We have always been confident that we will meet the conditions for the licence. A positive decision is the most important prerequisite for entering the market, so this is a significant moment for us,” he stated. Bäcke emphasized that with the favorable news, the focus can now shift more intensively to refining their products.
Hippos ATG marks the second licensing success in Finland's new landscape, following the Malta-based Wildz Group, which was the first to announce its license approval on October 15. The Finnish National Police Board, responsible for the licensing process, has yet to officially confirm any outcomes, prompting inquiries from iGB for further clarification.
ATG (AB Trav och Galopp) serves as Sweden's horse racing monopoly operator and formed the joint venture with Suomen Hippos in 2025. The partnership plans to utilize the ATG brand for its Finnish operations, leveraging its strong brand recognition. Additionally, the company intends to employ ATG's in-house gaming platform for a cost-effective operation, as articulated to iGB last year.
To date, approximately 80 companies have submitted applications for Finnish gambling licenses. While some analysts voice concerns about potential market oversaturation given Finland’s limited population, the existing large grey market is expected to be addressed by this reform.
Antti Koivula, Chief Compliance Officer of Hippos ATG, foresees challenges as the market develops. During a presentation at SBC Lisbon in September, he highlighted the advantageous position current monopoly operator Veikkaus and established offshore operators may have due to their existing customer databases, leaving new entrants with significant challenges as they establish themselves from the ground up.
