23rd of June 2011 Author: Glo Wood
New subsidiary to open up paths to new partnerships
According to this week's reports, Finland's state-owned lottery operator Veikkaus plans to expand its operations into Russia, China and the U.S., and having this goal in mind, it has set up a subsidiary which will start working in July and will be re-evaluated in 2013 as to its viability. It is believed that markets outside the EU are being targeted by the company in order to prevent jeopardising its own monopoly.
It has been specified that the plan is not to apply for licenses in the target markets, but to enter partnerships with companies that already operate there.
According to Veikkaus vice president, Olli Sarekoski, "We are seeking bigger entities to enter into business arrangements with - traditional gambling operators, system vendors and media companies looking for new partnerships."
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