Revamping Veikkaus: A New Era for Finland’s Gambling Monopoly
In a bold move to reshape its future, Veikkaus, Finland’s state-run gambling entity, is undertaking significant technological upgrades while actively recruiting top talent from the industry. This strategic transition aims to bolster its competitiveness in an evolving market.
A Mission to Disprove Critics
In an exclusive interview with iGB, Jarkko Nordlund, the Executive Vice President for iCasino and sports wagering at Veikkaus, expressed his determination to challenge skeptics. “There’s a widespread expectation that Veikkaus will stumble, but I am committed to reversing that narrative,” he stated.
Leading a newly formed digital division, Nordlund is set to launch offerings tailored for Finland’s forthcoming open gambling environment. With the market set to welcome private competitors in January 2027, Veikkaus aspires to carve out a formidable position for itself.
Facing Financial Headwinds
Despite this ambitious outlook, Veikkaus has faced ongoing financial challenges, with a 7.2% decline in group revenue reported for 2024. The operating profit plummeted 19.5%, driven in part by significant investments in digital initiatives—a crucial step prior to entering a more competitive marketplace.
Industry stakeholders have raised concerns about Veikkaus’s ability to keep pace with grey market competitors, highlighting the need for a strategic overhaul. In response, the company is prioritizing technological innovation and a revamped product suite.
Embracing Cutting-Edge Technology
Nordlund detailed the ongoing transition to advanced platforms in pivotal areas such as player account management (PAM), sports betting, and customer relationship management (CRM). The company also plans to roll out new mobile applications in the upcoming year.
“There’s untapped potential in our technological capabilities,” he acknowledged. “The competition is intense, and come market opening, we must be prepared to stand out. Our goal is to fundamentally shift our current approach.”
Attracting Top-Tier Talent
As part of its transformation, Veikkaus has been proactive in recruiting industry veterans, including Andreas Reimblad, a former director at Kindred, who now heads the online sportsbook revitalization.
Recent additions also include Fatemeh Daneshzadeh, who previously served as product excellence manager at Kindred and joined Veikkaus as VP of Digital Channels. Nordlund emphasized that while he seeks experienced individuals from the gaming sector, he is also considering talent from diverse entertainment fields, such as television and music.
“We are curating a talent pool that melds international expertise from across the entertainment landscape, including professionals from Netflix and Bolt, to enhance our competitive edge,” he noted.
By blending the wisdom of seasoned Veikkaus employees with fresh insights from new recruits, the company aims to leverage the best aspects of various entertainment sectors, ensuring it is well-equipped to face the future head-on.