Tag Archives: Veikkaus

Veikkaus revamping business around responsible gambling objectives

Finnish gambling operator Veikkaus is revamping its operations to put more emphasis on responsible gambling.  The company plans to reduce its 18,500 slot machines by 40% over the next six years as it looks to address concern over the extent of gambling harm in the country.  The move comes despite Veikkaus announcing a 2.1% drop in gross gaming revenues so …

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Finnish ombudsman seeks to break-up Veikkaus control by state departments

Political debate on how to reform Veikkaus continues, as Finland’s Consumer Ombudsman urges the government to overhaul the gambling monopoly’s operational procedures and governance structures. Speaking to media, Krisi Leivo, Director General of Finland’s KKV Consumer Authority, stated that Veikkaus profits should be directly controlled by the state. Leivo believes that Veikkaus would be a more beneficial state asset if the monopoly …

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Veikkaus appoints 13 new supervisory board members

Finnish gambling monopoly Veikkaus has strengthened its supervisory board after making a dozen of new appointments in a bid to elevate its responsible gambling standards.  The supervisory board is due to be led by chair Jukka Gustafsson and vice chair Jani Mäkelä, and will oversee the company’s corporate governance strategy and the implementation of responsible gambling policies. “[These measures] will …

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SBTech sets out ‘go’ live process for WLA member hat-trick

SBTech

SBTech said that the process of getting new operators live via its sports betting solutions is something that it “refuses to take lightly”. James Coxon, VP of Commercial at SBTech, added that it prioritises getting “fully under the hood of exactly what they want as a business”. He was speaking at last month’s Betting on Sports conference in response to …

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Veikkaus Finland confirms Regina Sippel as inbound CFO

Continuing its executive team restructure, Finnish gambling monopoly Veikkaus has confirmed the inbound appointment of Regina Sippel as new Chief Financial Officer (CFO). A fresh industry executive, Sippel joins Veikkaus leadership team from LSE listed UK travel group Thomas Cook, where she served as CFO of the travel operator’s Northern Europe division. Sippel will be tasked with leading the financial …

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Veikkaus reforms ethics council in response to public pressure

Finland’s under pressure gambling monopoly Veikkaus will re-establish an independent ethics council to make sure that it fulfils its social responsibility mandate across all operating verticals. The ethics council confirmation came after the state-owned operator introduced a raft of new gambling protection measures this week, including significantly reducing the number of slots across its leisure portfolio. Furthermore, adhering to new legislative …

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Veikkaus ‘poor taste’ triggers debate on ‘Phase 2’ of Finnish gambling reforms

Debate on reforming wholesale Finnish gambling laws has arisen, as state-owned monopoly Veikkaus suspends its advertising activity until the end of September, implementing a full scale review of its marketing strategy. Veikkaus’ latest marketing campaign, which depicts a ‘therapist character’, advising patients that ‘cravings for thrills and winnings are normal behaviour’, has been chastised for mocking Finnish mental health services, …

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Veikkaus Finland appoints SBTech to lead end-to-end sportsbook overhaul

Multi-channel sportsbook and systems provider SBTech has won the competitive tender to act as the lead online and retail sports betting systems provider for Veikkaus Finland. This morning, SBTech confirmed that it has won the hotly contested ‘public procurement process’ to service Finnish gambling monopoly Veikkaus, who in 2018 called for a wholesale systems upgrades improving the firm’s digital capacities …

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Digital challenge sees Veikkaus complete stage-1 of corporate transformation

Veikkaus, Finland’s state-owned gambling operator has detailed the successful completion of the initial phase of its ongoing ‘transformation programme’. At the start of 2019, Veikkaus governance announced that it would undertake ‘significant operational restructure’ of its ‘restaurant gambling division’, having identified a number of ‘cost reduction areas’. Competing against a ‘trend of fierce online gambling competition’, Olli Saarikoski, President and …

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Finnish authorities crack down on illegal gambling advertisements

Finland’s Police and Transport and Communications Agency Traficom have confirmed that they are going to work alongside one another to strengthen initiatives which monitor and prevent illegal gambling advertisements on television and radio. As it stands, only Finland’s state-owned Veikkaus is permitted to run and market gambling of any kind across the country, with any other marketing operations pertaining to …

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