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Finnish Gambling Monopoly Veikkaus Completes First Phase Of Its Corporate Transformation Programme

Finnish Gambling Monopoly Veikkaus Completes First Phase Of Its Corporate Transformation Programme
Finnish Gambling Monopoly Veikkaus Completes First Phase Of Its Corporate Transformation Programme

Finland’s gambling monopoly Veikkaus has completed the first phase of its ongoing transformation program.

Earlier this year, Veikkaus announced that it would be undertaking ‘significant operational restructure’ of its restaurant gambling division. The gambling operator had said that they have identified several ‘cost reduction areas.’

The state-owned gambling operator has been facing stiff competition from overseas online gambling operators. The company has also reduced 300-360 staff working on a part-time contract in its bid to reduce operational costs.

Olli Saarikoski, President and CEO of Veikkaus, said: “Our objective is to ensure Veikkaus’ future in the tightening digital competition, where gaming is shifting strongly towards the digital channel. As a result of the structural changes in retail trade, our point-of-sale network has also been reduced considerably in the past few years.”

Earlier in April, the country’s National Institute for Health and Welfare said that Veikkaus should restrict and restructure its gambling advertising campaigns and policies citing that the company’s adverts do not reveal the risks associated with gambling.

Commenting on responsible gambling initiatives taken by the gambling operator, Saarikoski said that “There has been a lot of public debate over gambling problems. It is good that the responsibility of our operations and the reliability of our games are still seen as significant values. Veikkaus keeps monitoring the development of gambling-related problems regularly and developing measures to control problem gambling.

“At present, Veikkaus is preparing for comprehensive identification on decentralized slot machines, which will be introduced in 2022, enabling the players, for example, to set limits on their own gaming.”

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