Veikkaus Prepares for a Transformative Era in the Gambling Industry
Veikkaus, a prominent player in the Finnish gambling industry, is gearing up for a transformative era. Significant changes are on the horizon as preparations are underway to revamp the country’s gambling system. A section of the market will open up to competition at the beginning of 2026, aligning with the Government Programme’s directives.
Opening to International Competition
As part of these changes, some digital gambling operations will become integrated into the international license-based gambling market. However, it’s important to note that Veikkaus’ monopoly will persist in certain areas, including Lotto and physical slot machines.
Olli Sarekoski, President and CEO of Veikkaus, emphasizes that these preparations and the move towards international operations are vital components of Veikkaus’ growth strategy: “We are building a future where Veikkaus is Finland’s leading gambling company and a significant operator in the international market”.
Ensuring Competitiveness and Sustainability
Veikkaus aims to establish a sustainable and profitable business model that ensures its competitiveness in the evolving gambling landscape. This pursuit will involve organizational changes, which will be discussed in upcoming cooperation negotiations scheduled for September.
The negotiations will encompass almost the entire organization, affecting around 825 members of Veikkaus’ personnel. These discussions may result in the termination of employment for a maximum of approximately 240 individuals and substantial changes to the terms of employment for up to 195 employees. Additionally, Veikkaus plans to reduce the number of gambling locations from 65 arcades to a range of 40 to 50 arcades, with potential consideration for the closure of Casino Tampere.
A Focus on Adaptation and Competitiveness
The ultimate objective is to create an operational model that allows Veikkaus to concentrate on its core business. This approach aims to equip the company to respond effectively to changes in its mission, operating environment, and the broader gambling industry.
Olli Sarekoski underscores the need for adaptability and competitiveness in both the upcoming license-based market and the ongoing monopoly market: “We want to be competitive in the upcoming license-based market and viable in the monopoly market. That is why we need to make operational changes that cover the whole company”.
Embracing Change in a New Era
The ongoing transition in the gambling industry, coupled with systemic shifts, is ushering Veikkaus into a new era. With these changes come challenges and tough decisions, including potential job terminations. The company is committed to supporting affected employees during this transformative period.
Mr Sarekoski says: “It will bring with it many parallel changes. We will go through the whole organization from the perspective of lucrativeness and growth. We will also have to make difficult decisions. For some, these changes may mean the termination of their employment relation. We will be caring for and looking after them”.
In summary, Veikkaus is embarking on a significant transformation in response to evolving industry dynamics. The company is determined to emerge as a competitive player in the changing gambling landscape while ensuring its long-term sustainability and growth.