As Finland continues to progress towards gambling regulatory transformation, Veikkaus is making preparations to stay competitive once the legislation comes into effect.
While this will involve new roles being created, job losses will also occur, as the state-owned operator transitions to enter a commercial licensed market in the Nordic country.
Negotiations were held by Veikkaus with 75 employees across three different functions between October and November this year, as plans continue to be drawn out ahead of the new gambling system set to come into play in 2027.
With competition coming into the market, Veikkaus has decided to discontinue 26 existing roles, while 22 new positions were created and 20 employment relationship changes were made.
“Our strategic direction requires changes from us, which have now been implemented through these negotiations,” commented Reija Laaksonen, EVP, People, Brand & Communications at Veikkaus.
“These decisions are always difficult from a human perspective, but they are necessary for Veikkaus’ future competitiveness.”
Future of Veikkaus
Ahead of the Finland gambling market opening up for commercial operators, sports betting and online casino licences will be issued, but Lotto, Eurojackpot and physical slot machines will remain under Veikkaus’ monopoly.
Yet, the future of the state-owned operator could be in the balance, as last month, Finland’s Director General of Ownership Steering, Maija Strandberg, stated that Veikkaus could be publicly listed in 2027.
Strandberg said during an interview with MTV News: “Of course, we continuously consider whether we have companies in our portfolio that would be appropriate to list. Veikkaus’s name has been circulating, but regarding Veikkaus, I say: it is not yet timely. The current legislation does not allow a listing and Veikkaus as a company is not yet ready for listing.
She added: “The matter can be considered after the year 2027. If the government adheres to this investment programme overall, then we cannot avoid the sale of listed companies as well.”
Jari Vähänen, Co-Founder & Partner at The Finnish Gambling Consultants, said during a recent SBC Webinar that Veikkaus could follow the path of FDJ United in France, abiding by current legislation that states the exclusive licence holder should be directly controlled by the state, which doesn’t necessarily mean they have to be owned by the state.
Delays ahead?
Finland’s licensed regulated market is currently scheduled to launch in January 2027, but delays could be on the horizon.
Within its report on the government’s gambling legislation proposal, one of a myriad of changes requested from the country’s Administrative Committee was a six-month postponement to its implementation, entering into force on 1 July 2027.
Today (10 December), Finland’s gambling bill and the report from the administrative committee will be discussed in a plenary session of Parliament.
