Hippos ATG, a joint venture formed by Swedish operator ATG and the Finnish racing association Suomen Hippos, has received a gambling license in advance of Finland’s planned market launch. This development comes as Finland prepares to liberalize its state monopoly on gambling, allowing private operators to enter its online gaming market starting July 1, 2027, as part of a significant regulatory overhaul.
The license granted to Hippos ATG Oy is valid for five years, as confirmed by a photograph of the license shared on social media.
Mikael Bäcke, the CEO of Hippos ATG, commented, "We have worked hard to build a completely new company in Finland and its operating models from the very beginning to meet the requirements of 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. After this excellent news, we can focus even more strongly on the products themselves and on finalizing the operational entity."
With this announcement, Hippos ATG becomes the second operator to secure a license, following the Malta-based Wildz Group, which was the first to declare its successful application for a Finnish license on October 15.
The National Police Board of Finland, overseeing the licensing process, has yet to officially confirm the results of any license applications. iGB has sought comments regarding the status of the applications.
ATG (AB Trav och Galopp) holds the position of Sweden’s horse racing monopoly operator and revealed its partnership with Suomen Hippos in 2025. It later stated its intention to carry the ATG brand during the market launch in 2027, capitalizing on the brand's recognition. The company indicated last year to iGB that it will utilize ATG's proprietary gaming platform, touting it as a "cost-effective solution."
Currently, around 80 companies have submitted applications for Finnish gambling licenses. Some industry analysts have voiced concerns regarding potential market oversaturation given Finland's limited population. Nevertheless, there exists a significant grey market, which is expected to be addressed by the upcoming regulatory changes.
During a presentation at SBC Lisbon in September, Antti Koivula, the chief compliance officer at Hippos ATG, anticipated an uneven competitive landscape as the market evolves. He noted that current monopoly operator Veikkaus, along with offshore-licensed entities already active in the market, possess customer databases that may provide them with a competitive advantage over new entrants starting without such resources.
