Wildz Group has officially become the first operator to announce its licensing approval for online gambling services in Finland, ahead of the market opening scheduled for July 1, 2027. This marks a significant milestone as Finland revamps its gambling regulations, transitioning from a state-owned monopoly to a more competitive market.
Currently, online gambling in Finland is managed under a government monopoly led by Veikkaus, but the upcoming changes will allow private operators to enter the market. The application process for licenses commenced in March 2023, with an anticipated processing period of six months. As of September 22, 2023, the National Police Board had received a total of 75 applications, surpassing initial expectations.
Wildz Group, headquartered in Malta, operates various casino brands across multiple regulated markets. A representative for the company expressed pride in obtaining Finland's first online gambling license, highlighting the achievement as both a remarkable milestone for the company and a testament to the dedication of their team throughout the application journey. "We look forward to working closely with the Finnish regulator to achieve the highest possible level of channelisation, ensuring that the new licensing regime is a success and delivers on its objectives," they stated.
However, the National Police Board, responsible for overseeing the licensing process, has yet to confirm the outcomes of Wildz's and other applications. It remains uncertain when or if the board will disclose the list of successful licensees or the status of other applications.
The licensing process comes with a €29,000 ($33,500) processing fee, and while there is no limit on the number of applications, analysts have warned that the market could become oversaturated, given Finland's relatively small population and the high number of interested operators alongside Veikkaus.
As Finland prepares to shift away from its longstanding monopoly system—following Sweden's full liberalisation in 2019—the anticipation for upcoming market developments continues to grow. Lasse Rantala, a board member at Wildz Group, noted on LinkedIn that the new license will officially take effect on July 1, 2027, and expressed gratitude for his team's efforts as preparations for the market launch progress.
