Swedish gaming operator ATG has formed a new company targeting coverage of the Finnish harness racing industry alongside Suomen Hippos, the Finnish trotting association.
The move comes after ATG’s disagreement with Veikkaus over a new contract for coverage of the sport in Finland.
InterGame contacted ATG to confirm if the company has ended efforts to renew terms with Finland’s gambling monopoly operator.
Chief corporate communications officer said: "Since Veikkaus terminated the agreement, ATG has presented constructive proposals to break the deadlock. Unfortunately, Veikkaus maintains its position that the agreement must be extended until 2030. Otherwise, they will stop distributing data and video rights for Finnish trotting races to ATG as of April 1.
"Veikkaus has also announced that it will look into reduce the number of Swedish trotting races this spring and, after the Elitloppet [harness racing event], will completely stop offering betting on Swedish trotting races to Finnish customers.
"With that said, we still hope that Veikkaus will change its position for the benefit of Finnish, Swedish and Nordic horse racing industries and the overall interest in trotting in the region."
The new entity, the name of which will be announced at a later date, is geared around the reregulation of Finland’s gaming market, which will overhaul Veikkaus’ monopoly status and implement a multi-licensing system.
As well as offering betting on harness racing, the new company will allow Finnish customers to play online casino games and bet on other sports.
It will be headquartered in the Finnish capital of Helsinki and both ATG and Suomen Hippos will own 50 per cent of the business.
“This is an important and aggressive investment for ATG,” said Mikael Bäcke, head of ATG's operations in Finland.
“Through the collaboration with Suomen Hippos, we get a stable and knowledgeable partner on site in Finland – and together we are building a new, attractive gaming company that both customers and trotting sport win. The goal is to offer a world-class gaming experience.”
ATG will take 40 per cent of the company’s dividends and Suomen Hippos will take 60 per cent, with the aim of ensuring a “a strong, long-term contribution” to the Finnish horse racing industry.
Minna Mäenpää, CEO of Suomen Hippos, labelled the collaboration a “big step” for equestrian sports in Finland.
“Nordic cooperation in trotting is important and will become even more important in the future. This new Finnish betting company gives us the best opportunity to actively influence the future of the horse industry in a responsible way.
“The fact that we also receive the majority of the dividend strengthens our ability to develop the sport.” Veikkaus and ATG both gave differing opinions on why talks broke down.
ATG hit back at claims from Finland’s monopoly operator Veikkaus that the Swedish company is trying to secure a “virtual monopoly” of horse betting in the Finnish market.
ATG said it refused to back the terms of a proposed extension that would run until 2030 due to uncertainties around the re-regulation of the Finnish market in 2027 and the overhaul of Veikkaus’ monopoly into a multi-licensing system.
But Veikkaus claimed that while ATG’s operational management agreed on the terms of that new deal, ATG’s board of directors rejected the move.
