Charles Cohen Appointed to Veikkaus Board of Directors
Charles Cohen, the founder and CEO of gaming technology company Department of Trust, has been appointed to the board of Veikkaus, Finland’s state-owned gambling operator. Cohen’s election comes during a pivotal moment for Finland’s gambling sector, as legislative changes loom that could dismantle Veikkaus’ long-standing monopoly in certain verticals.
Cohen’s Extensive Background in Gambling Technology
Cohen brings a wealth of experience to Veikkaus. As the founder of Department of Trust, he has focused on player identity verification and compliance solutions. He also serves on the advisory board for Games Global. Previously, Cohen held senior roles at International Game Technology (IGT), where he worked as Vice President of Mobile, PlaySpot, and North American Sports Betting. His work at IGT was pivotal in expanding mobile and retail sports betting across US markets.
Cohen’s appointment to the Veikkaus board was confirmed during the company’s Annual General Meeting (AGM), where the board expanded to seven members. In addition to Cohen, the AGM re-elected several board members, including Kaisa Olkkonen as chairman and Leena Vainiomäki as vice chairman. Minna Pajumaa, Ossi Lindroos, and Katri Harra-Salonen also retained their positions. Martti Ala-Härkönen, Vice Chair of Digia Plc’s board of directors, was elected as another new member, joining Cohen in the reshuffle. Three former members, Anne Larilahti, Juha Väre, and Christian Cedercreutz, chose not to seek re-election.
Cohen’s Role in Navigating the Regulatory Shift
Cohen’s inclusion on Veikkaus’ board is seen as a strategic move to navigate the forthcoming regulatory changes. Veikkaus chairman Kaisa Olkkonen emphasized that Cohen’s experience would be vital as the company transitions to a more competitive and regulated market:
“Veikkaus’ board of directors is now strengthened with significant experience in the international gambling industry and financial management. Cohen and Ala-Härkönen will bring invaluable expertise to support Veikkaus’ journey of change.”
Cohen’s role will likely involve advising Veikkaus on how to adapt to the new regulatory landscape. This could include strategies for operating within the new competitive licensing system or strengthening its position in the monopolized segments that remain under state control. Cohen’s expertise will play a crucial role as Veikkaus faces these regulatory changes and navigates a new competitive landscape in Finland’s evolving gambling market.