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This growth reflects the launch of eInstants and iCasino products across various markets, including Italy, Canada, parts of Germany, Mexico, the Czech Republic and Iceland.
Veikkaus stated that Fennica now operates in 21 markets across three continents and gaming verticals. Fennica secured an UAE online supplier licence last year.
Industry consultant Jari Vähänen, formerly a senior executive at Veikkaus, estimated the entire business could be valued at up to €4.5 billion following the liberalisation of the market.
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Revenue from the US and Canada increased 161% year-on-year (or 176% in constant currency) to €56.9 million.
This was due to its partnership with Hard Rock Bet in Florida, and the strength of its games powered by Past Motor Racing (PMR). These are expected to normalise in subsequent quarters.
North America continues to be a strong and prominent region for Playtech. US general manager Jonathan Doubilet told iGB’s sister publication GGB in June that it had exceeded its expectations in the region.
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The review examined the gaming sector and associated money laundering, terrorist financing and proliferation financing risks.
Spillemyndigheden said it contributed actively to this work and sat on FATF’s gaming sector working group. The regulator confirmed that many of the indicators in the report carry relevance for operators licensed in Denmark.
FATF’s warning on illegal and offshore gambling will resonate in Denmark. Last year, Spillemyndigheden secured a court order to block 178 unlicensed gambling sites, the largest such action in the regulator’s history.
