ATG to launch Finland-facing JV when market regulates
Swedish horseracing operator to partner with Finnish Trotting and Breeding Association as it looks to gain a first-mover advantage in the incoming commercial arena
ATG has joined forces with the Finnish Trotting and Breeding Association, Suomen Hippos, to launch a JV operator that will go live in the soon-to-be regulated Finnish market.
Swedish horseracing betting operator ATG and Suomen Hippos will jointly oversee the new business, which will be named and branded at a later date.
Suomen Hippos, which administers horse welfare, breeding and racing operations, was established in 1973.
The JV, which will be 50% owned by each party, will offer horseracing, sports betting and online casino in Finland once the market launches in 2027.
Based out of the capital of Helsinki, the JV said it plans to offer a “world-class gaming experience” as Finland shifts from the Veikkaus monopoly to a multi-licence commercial framework.
Any profit from the JV’s operations will be split 60/40 in Suomen Hippos’ favour, with the aim between the pair to ensure a “long-term contribution to the Finnish horse industry”.
When the market does switch to a commercial arena, Veikkaus will retain a monopoly on land-based verticals, and had originally hoped to hold onto a horseracing monopoly.
This was struck down as part of recent refinements to legislation, which would allow companies wishing to operate in the Finnish market to apply for a licence from next year, should the new blueprint pass in parliament.
Mikael Bäcke, ATG head of Finland, said: “This is an important and aggressive investment for ATG.
“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.
“If you want to make a difference for Finnish horseracing, the choice is obvious. Our new betting company gives the most backing and builds the sport strong for the future.”
Minna Mäenpää, Suomen Hippos CEO, added: “This is 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.”