The government of Finland has submitted its new gambling legislation to the European Commission (EC) for approval.
The notification to the EC comes ahead of the planned opening of the re-regulated gaming market in Finland, which will be opened to private operators for the first time.
The law submitted to the EC on Friday (1 November) retains the monopoly held by Veikkaus over lottery games and retail betting and casino gaming, with other forms of gambling subject to licensure.
Licences will allow operators to offer sports and horse race betting, as well as online bingo and casino games, when the re-regulated market opens on 1 January 2026.
The licence reserved for state-owned gaming operator Veikkaus will be valid for ten years, with other licences having a five-year term.
The price of the exclusive licence for Veikkaus is yet to be determined.
As a result of the transition to the concession system, the Lottery Act, Lottery Tax Act, Income Tax Act, Criminal Code and some other laws are also proposed to be amended, with the uniform tax rate for gambling activities in Finland under the Lottery Tax Act to be set at 22 per cent.
The Finnish government intends to submit the EC-approved legislation to the Riksdag during the spring session in 2025.