Finnish lottery operator to return more revenues to Ministry of Education

Tanja Karpela

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As a result of the improved profits of the Finnish lottery and pools operator Veikkaus, the government will be able to distribute more money for arts, youth work, and sports during the current year.
      According to Minister of Culture Tanja Karpela (Centre), Veikkaus is to return even more money to the Ministry of Education in the coming years, because the annual surpluses from Veikkaus operations are increasing. Last year, a total of approximately EUR 380 million of Veikkaus's proceeds were allocated to Finnish science, arts, sports, and youth work.
     
According to the supplementary budget for this spring, more money will be allocated for certain projects including for example, the digitisation of Finnish cultural heritage, the Ministry of Education's own action programme Lapset ja media (Children and Media), the rental expenses of Aleksanterin teatteri (The Aleksanteri Theatre, Helsinki's Old Opera House), the repairs of the Bengtskär lighthouse off Hanko, a new organ for St. Petersburg's Finnish congregation, and cultural exports.
     
Veikkaus is the state-owned national lottery and gaming monopoly. The proceeds of its lotteries, instant lotteries, football pools, and fixed- or variable odds betting go to support the arts, sport, science, and youth work. Attempts to dismantle the monopoly - for example by companies such as Ladbrokes - have thus far been firmly rebuffed. Similar licences to operate slot machines and casino activities and off-track totalisator betting on harness racing have been granted to the Finnish Slot Machine Association (RAY) and Fintoto respectively. Between them, the three organisations provide around EUR 800 million in annual funding.


Links:
  Veikkaus
  Ministry of Education

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