Veikkaus CEO Olli Sarekoski said that the gambling company is ready to face international competitors as the Finnish iGaming market is likely to undergo significant changes.
The opening of the Finnish commercial iGaming market is scheduled for 1 July 2027 and gaming operator applications are already being accepted. However, Veikkaus will keep the exclusive rights only for Lotto, Eurojackpot, and land-based slot machines.
Veikkaus considers the introduction of foreign operators as an opportunity to get rid of the black market and speed up progress.
Sarekoski commented:
The Finnish gambling system is now entering a new era. Our journey towards the multi-license system and beyond is based on continuous development, the ability to renew ourselves, and the desire to do things better every day. One of our greatest strengths is our people at Veikkaus: how we approach change, how we support one another, and how we move Veikkaus forward together. In 2025, we took significant steps in this work and will continue in the same determined direction. We have also strengthened our organization with top-level recruitments as we prepare for international competition.
Notwithstanding these optimistic estimates, the shift to a commercial market has resulted in job losses at Veikkaus. During October and November 2022, the gambling company was talking with 75 employees from 3 departments. Finally, 26 positions were eliminated, 22 new jobs were created, and 20 employment terms were changed.
Reija Laaksonen, Executive Vice President of People, Brand & Communications at Veikkaus, said:
Our strategic direction requires changes from us, which have now been implemented through these negotiations. These decisions are always difficult from a human perspective, but they are necessary for Veikkaus’ future competitiveness.
Sarekoski thinks that Veikkaus probably already has at hand “a very good basis for success: strong game products, a well-known and trusted brand among Finns and skilled employees, ” after a 2025 performance that was in line with what the company expected and the really strong results in the second half of the year for betting and iCasino, with anticipation of growth in 2026. Veikkaus sales revenue in 2025 totaled 936.3 million euros (2024: 959.1 million euros), including lottery (497.4 million), land-based operations (142 million), iGaming (292.4 million), and gaming as a service (4.4 million). Operating profit was 431.6 million (2024: 461.6 million) and total profit 447.2 million (2024: 471.5 million).
Sarekoski said:
Our vision is to be a respected and successful international money gaming group by 2030. Our purpose – we passionately drive better gaming – guides us on this journey. We want to act ambitiously in line with our values and build sustainable and successful business both in Finland and internationally.
Still, there is uncertainty lingering over Veikkaus’s future. Maija Strandberg, the Director General of Ownership Steering in Finland, mentioned last November that the company could be floated on the stock market in 2027.
Strandberg told 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. 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.
Recently, Nordic Law Partner Jon Hautamki and Associate Trainee Niko Hannolainen shared a thorough review of the regulatory amendments and market changes. Some of the topics discussed were duty of care marketing technical standards, software licensing, AML, and upcoming reforms.
Nordic Law concluded:
The success of the entire gambling reform depends on whether licensed operators can win players back from the offshore market. Several regulatory tracks are developing on top of the Gambling Act, but their cumulative effect on channelization has not yet been considered.
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