Making changes to its executive team structure, Finnish gambling monopoly Veikkaus has announced the appointment of Regina Sippel as new Chief Financial Officer (CFO).
Sippel is coming to Veikkaus from a London Stock Exchange Listed UK travel group Thomas Cook. She was associated with the popular travel company as CFO of the company’s Northern Europe division.
Sippel will be leading the financial management, planning and risk management of the Veikkaus Group.
Recently, Veikkaus confirmed that they would be creating an internal Ethics council. Gambling administrators are tasked with preparing a timeline for constituting the Ethics committee in the company’s next board meeting.
Amidst allegations of being lax in implementing responsible gambling measures, Veikkaus has also revised its guidelines following which now there will a ‘responsibility metric’ in their reward system which is developed to track gamblers who may demonstrate compulsive gambling behavior.
The gambling monopoly is also planning to reduce the number of slot machines over the next few years. There has been a public outcry over Veikkaus’ move to install gambling machines at non-gambling venues including restaurants and gas stations.
The demands for revising the gambling regime and changing the monopoly structure have been gaining grounds. In a recent turn of events, amidst calls for changes to the monopoly status of the Finnish state-run gambling company Veikkaus, Veikkaus executive vice-president Velipekka Nummikoski charged back and said that any changes to the current gambling licensing structure would dramatically impact the funding for social causes and would also lead to an increase in gambling-related harms.