Suomen Hippos and ATG Establish Joint Venture in Finland
Suomen Hippos and the Swedish betting company ATG have announced the formation of a Joint Venture in Finland. Both parties have signed the shareholder agreement and articles of association, with plans to apply for a gambling license in Finland once the legal framework allows it.
Equal Partnership and Profit Distribution
Suomen Hippos will own 50% of the company, while ATG will hold the other 50%. The profits will be distributed with 60% going to Suomen Hippos and 40% to ATG. The aim is to ensure a long-term strong contribution to the Finnish horse racing industry.
The new company, whose name will be announced later, plans to offer Finnish customers horse racing and sports betting, as well as online casino games, in a modern and responsible manner. The company’s headquarters will be in Helsinki.
Strategic Impact on Finnish Horse Racing
Minna Mäenpää, CEO of Suomen Hippos, highlighted the joint venture’s potential to influence the future of the Finnish horse racing industry.
“We believe that this new joint Finnish company will give us the best opportunity to actively and responsibly impact the future of the horse industry. Nordic cooperation in harness racing is and will continue to be increasingly important, and this solution strengthens our ability to develop the sport and the operational conditions of the horse industry.”
ATG’s Investment and Commitment
Mikael Bäcke, responsible for ATG’s operations in Finland, said:
“This is an important and proactive investment for ATG. In collaboration with Suomen Hippos, we gain a stable and skilled partner in Finland and will build a new, attractive company that benefits both customers and the harness racing industry. Our goal is to offer a world-class betting experience in the licensed market.”
Bäcke also emphasized the positive impact on Finnish horse racing:
“ATG is proud to collaborate with Suomen Hippos in building a sustainable and thriving Nordic harness racing industry. Changes in betting regulations in the licensed market mean that Finnish horse breeding and harness racing will now receive an equal share of betting revenues from both Veikkaus and the new betting company through data and media agreements. Additionally, 60% of all profits made by the joint venture—horse racing, sports, and casino—will be paid back to the industry through dividends. For anyone who wants to support Finnish harness racing, the choice is clear: the new joint venture offers the strongest financial backing for the industry.”