Hippos ATG, a collaboration between Swedish gambling operator ATG and the Finnish racing association Suomen Hippos, has received approval for a gambling licence as Finland prepares to launch its market. The country is set to open its online gambling sector to private operators starting July 1, 2027, marking a significant shift from its previous state-controlled monopoly.
The licence granted to Hippos ATG Oy is valid for five years, as confirmed in a social media post that displayed the licence.
Mikael Bäcke, CEO of Hippos ATG, expressed the company's diligent efforts to build a new entity in Finland tailored to the forthcoming regulatory requirements. "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," Bäcke said.
With the licence secured, Hippos ATG will concentrate on the development of its product offerings and finalizing operational structures in preparation for the launch.
The joint venture is the second to announce a successful licence application, following Malta-based Wildz Group, which reported its approval on October 15.
While the National Police Board of Finland, responsible for overseeing the application process, has not officially confirmed any outcomes yet, around 80 companies have reportedly applied for gambling licences. Market analysts have raised concerns regarding potential oversaturation in light of Finland’s relatively small population. However, the existence of a substantial grey market presents opportunities that could be addressed through regulation.
Antti Koivula, Chief Compliance Officer of Hippos ATG, pointed out during a presentation at SBC Lisbon in September that the competition landscape may be challenging as the market opens. Established operators like Veikkaus, together with offshore companies, may have extensive customer databases which can provide them a competitive edge over newcomers starting from the ground up.
