Hippos ATG, the joint venture between Sweden's AB Trav och Galopp (ATG) and Finnish trotting federation Suomen Hippos, has been granted a five-year licence under Finland's new Gambling Act, clearing the way to launch on day one when the country ends Veikkaus's online monopoly on 1 July 2027.
Key takeaways
- Licence granted and announced on 19 October 2026, covering horse betting, sports betting and online casino.
- Hippos ATG is the second operator to publicly confirm a Finnish award, after Malta-based Wildz Group on 15 October.
- Applications have climbed to around 80; the National Police Board has not yet published an official list.
- 60% of profits flow back to Finnish horse sport and breeding via Suomen Hippos.
"A big day for us"
ATG confirmed the decision on 19 October, the same day the licence was issued. The Helsinki-headquartered company will trade under the ATG brand and run on the Swedish operator's existing gaming platform, which it has described as a cost-effective route into Finland. Horse racing and sports betting will be live from the first day of the regulated market, alongside online casino — a vertical ATG already runs in Sweden and Denmark.
"We have always been convinced that we meet the requirements to obtain a licence. A positive decision is the most important prerequisite for being able to establish ourselves in the market, so this is a big day for us."
— Mikael Bäcke, CEO, Hippos ATG
Bäcke stressed that the application was far more than paperwork. "Applying for a licence is not just about filling in a form," he said. The team built an entirely new Finnish company from scratch, with dedicated processes for responsible gambling, anti-money-laundering, information security, technical compliance, internal control, risk management and corporate governance. With the licence secured, he said, the focus now shifts to the products themselves and to finalising operations ahead of launch.
How Finland's new licensing system works
The gambling reform was signed into law in January 2026. Until the end of June 2027, mainland Finland remains under the Lotteries Act, which gives state-owned Veikkaus the exclusive right to run and market gambling. From 1 July 2027, online betting and casino gaming open to licensed competition. Veikkaus will keep exclusive rights over lotteries, pools, physical slot machines and land-based casino games. The government hopes the new regime will draw players away from the sizeable offshore market and towards authorised operators.
| Milestone | Date / detail |
|---|---|
| ATG–Suomen Hippos JV agreement | 7 April 2025 |
| Gambling reform signed into law | January 2026 |
| Licence applications open | March 2026 |
| Wildz Group confirms licence | 15 October 2026 |
| Hippos ATG licence granted | 19 October 2026 |
| Market opens to licensed operators | 1 July 2027 |
| Gaming software licence required | From 1 July 2028 |
| Licence validity / fee | 5 years / €29,000 |
The National Police Board (NPB) processes applications and supervises gambling until the end of June 2027, when a new Finnish Supervisory Agency takes over both roles. Licences can cover betting games, online slot and casino games, and electronic money bingo. Under the transitional rules, no licence can take effect before 1 July 2027.
A regulator working through a backlog
Interest in the Finnish market has outstripped early forecasts. According to Finnish broadcaster Yle, the NPB had received 75 applications by 22 September, up from 50 in June, and later reports put the total at around 80. The regulator has extended its target processing time to six to eight months and warned that some files may take longer. Hippos ATG's own compliance team had estimated that the full process, including technical integrations, would take around ten months.
So far, only Wildz and Hippos ATG have gone public with their awards, and the NPB has yet to release its first official list of successful applicants. In the meantime, the regulator has reiterated that prohibition orders and conditional fines remain available against unlicensed operators promoting gambling to Finns.
Affiliate ban worries new entrants
Not everything about the new framework sits well with Hippos ATG. Chief Compliance Officer Antti Koivula has criticised Finland's prohibition on affiliate marketing, warning that it hands an edge to Veikkaus and offshore brands that already have Finnish customers, while newcomers must build an audience under tighter rules.
"Prohibiting traditional customer acquisition channels such as affiliates… I don't see that as a good option, it's really bad."
— Antti Koivula, Chief Compliance Officer, Hippos ATG (SBC Summit Lisbon, September 2026)
Koivula has also argued that many affiliates operate responsibly and carry out meaningful responsible-gambling work of their own, and said he remains concerned about how the marketing rules will be enforced.
A horse-racing model built for reinvestment
ATG and Suomen Hippos each own 50% of Hippos ATG, but dividends are split 60/40 in favour of Suomen Hippos. The stated aim is to create lasting economic value for the Finnish horse industry once Veikkaus's monopoly ends.
- ATG — founded in 1974 and owned by Svensk Travsport and Svensk Galopp, it is the Nordic region's largest gambling operator and market leader in horse betting in Sweden and Denmark. It has competed in Sweden's licensed market and operated in Denmark since 2019, and directed around SEK 2.3 billion of surplus to Swedish horse sport in 2024.
- Suomen Hippos — founded in 1973, it runs Finnish trotting, including competition, horse welfare and breeding.
That puts a racing-led brand up against casino specialists such as Wildz from launch day. How much money ultimately flows back to Finnish trotting will depend on how much share the ATG brand can win in a market Veikkaus has controlled for decades.
What it means for the Finnish market
Interest is high, but the prize is shrinking: H2 Gambling Capital figures cited by the Finnish government put the market at around €2 billion in 2017, falling to roughly €1.5 billion in 2023. Some observers question whether a country of Finland's size can sustain dozens of licensees.
- For Finnish players: a locally rooted brand with deep horse-racing expertise will compete with Veikkaus and international operators from launch day.
- For Veikkaus: another well-funded Nordic challenger is now confirmed, though the affiliate ban may help it defend its existing customer base.
- For international operators: licence awards are starting to flow, but with around 80 applicants and a shrinking market, competition for share will be fierce.
- For Finnish horse sport: the 60% profit-return model mirrors ATG's Swedish setup and could become a key funding pillar after the monopoly ends.
Sources: World Casino News, ATG / Hippos ATG announcement, Gaming.net, iGaming Republic.
