Hippos ATG Oy has announced that it has secured a five-year gambling licence in Finland, becoming the second operator to publicly confirm approval ahead of the country’s regulated online gambling market opening on July 1, 2027.
The joint venture between Swedish gambling operator AB Trav och Galopp (ATG) and Finnish horse racing association Suomen Hippos plans to offer horse racing betting, sports wagering and online casino games.
The announcement follows Wildz Group’s confirmation of its Finnish licence on October 15. However, Finland’s National Police Board (NPB), which oversees the application process, has yet to officially announce any successful applicants.
The approvals come as Finland prepares to replace Veikkaus’s monopoly over online betting and casino gaming with a licensing system allowing private operators to enter the market.
Hippos ATG Prepares for July Market Opening
ATG and Suomen Hippos established their equally owned joint venture in 2025 to participate in Finland’s gambling reform.
The company intends to operate under the ATG brand and use the Swedish operator’s existing gaming platform, which it previously identified as a cost-effective solution for entering the Finnish market.
Hippos ATG CEO Mikael Bäcke welcomed the licence announcement following preparations to comply with the new regulatory framework.
“We have worked hard to build a completely new company in Finland and its operating models from the very beginning to meet the requirements of the new Finnish legislation,” Bäcke said in a public statement reported by iGaming Business.
“We have always been confident that we will meet the conditions for the licence. A positive decision is the most important prerequisite for entering the market, so this is a significant moment for us.
“After this excellent news, we can focus even more strongly on the products themselves and on finalising the operational entity.”
The venture also intends to contribute to Finland’s horse racing and breeding industries through its profit distribution arrangements.
Under the agreement, 60% of profits will be returned to Finnish equestrian sport and horse breeding, reflecting Suomen Hippos’s involvement in the business.
Bäcke explained:
“Our long-term goal is to create lasting economic value for the Finnish horse industry.”
ATG already operates gambling products in Sweden and Denmark, giving the venture an established technology platform and experience in regulated Nordic markets.
Advertising Rules Present Challenges for New Operators
Finland’s new licensing regime will introduce competition in online betting and casino gaming, while Veikkaus retains exclusive rights over the national lottery.
Around 80 companies have submitted applications, reflecting strong interest in the market ahead of its opening.
However, the framework includes restrictions that could affect how new operators attract customers.
Hippos ATG Chief Compliance Officer Antti Koivula has raised concerns about the prohibition on affiliate marketing, arguing that the measure could disadvantage businesses entering Finland without an established customer base.
Speaking at the SBC Summit in Lisbon in September, Koivula said:
“I am still a bit worried about the marketing regulation and especially the enforcement.”
“Prohibiting traditional customer acquisition channels such as affiliates…I don’t see that as a good option, it’s really bad.”
Koivula has previously questioned policymakers’ understanding of affiliate marketing, suggesting that the sector includes businesses that promote gambling responsibly.
“Many affiliates operate in a highly responsible way and do meaningful responsible work themselves.”
He also identified potential competitive advantages for Veikkaus and offshore operators already serving Finnish customers.
These companies possess existing customer relationships, while newly licensed entrants may need to establish their presence under stricter marketing conditions.
Finland’s Gambling Reform Attracts Industry Interest
The transition from a monopoly system to a multi-licence framework aims to bring more gambling activity under domestic regulatory oversight.
Finland currently has a substantial offshore gambling market, and the government expects the new licensing arrangements to encourage players to use authorised operators.
However, industry observers have questioned whether the relatively small Finnish population can support the number of businesses seeking licences.
Historical estimates also indicate that the market has experienced a decline in overall value.
According to H2 Gambling Capital figures cited by the Finnish government, the country’s gambling market reached approximately €2 billion in 2017 before falling to around €1.5 billion in 2023.
The new framework will need to account for these conditions as private operators enter the regulated sector.
Although Hippos ATG and Wildz have publicly announced receiving licences, the National Police Board has yet to release its official list of approved applicants.
Hippos ATG will now concentrate on completing its preparations for the July 2027 opening, when it plans to introduce its products to Finnish customers while supporting the domestic horse racing industry.