Veikkaus CEO Admits Lack Of Focus On Reducing Gambling Harm, Promises A Range Of Measures

Veikkaus CEO Admits Lack Of Focus On Reducing Gambling Harm, Promises A Range Of Measures

Finish gambling monopoly Veikkaus’ President and CEO Olli Sarekoski admits that the gambling operator has been lax in implementing responsible gambling measures in the heat of competition from other gambling operators.

Veikkaus has promised a series of measures including diminishing its marketing expenses, reducing its number of slot machines and also bringing in a system of compulsory identification for customers.

“Public debate has rightfully asked whether it’s right that people in weak positions suffer for the common good. The fact that the money goes to good causes is not enough to justify the problems caused anymore,” said Veikkaus President and CEO Olli Sarekoski.

Veikkaus has already once announced that it is planning to reduce the number of slot machines over the next few years.

Earlier in the year in August, amidst calls for changes to the monopoly status of the gambling monopoly, 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.

While there have been voices demanding liberalization of the Finnish gambling market, Nummikoski said that it would have far-reaching impact as the state-run gambling monopoly puts aside at least 72 percent of its profits for social causes in the country.

He pointed out that if overseas gambling operators are allowed in the Finnish gambling market the percentage of profits that go towards social causes is likely to decline by huge margins.

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