Veikkaus: Failure is not an option

Veikkaus, the long-standing Finnish gambling monopoly, is at a turning point in its history. The country is opening its market in January 2027, and the company is preparing to face formidable competition from the private sector.

The countdown has begun

In just over a year and a half, Finland will open its gambling market and end Veikkaus’s monopoly. The deadline is fast approaching, and Veikkaus is already preparing for the changes to come.

Its goal? Not just to survive, but to establish itself as a key leader.

Jarkko Nordlund, Executive Vice President in charge of online casino and sports betting, spoke to the iGB website about this.

“Everyone is waiting for Veikkaus to fail. My personal mission is to prove otherwise.”

A declining past, a digital future

Veikkaus has experienced a steady decline in its financial performance in recent years: a 7.2% drop in revenue by 2024, accompanied by a 19.5% decline in operating profit. But behind these figures lies a long-term investment strategy in digital technology. The company was quick to reassess its strategy in the face of a loss of competitiveness against gray market operators.

“We hadn’t really activated our technological and product capabilities. But competition is fierce, and when the market opens up, we have to be ready.”

An ambitious technological transformation

To make this strategic shift, Veikkaus is completely modernizing its digital infrastructure. A new player account management (PAM) system, a redesigned sports betting platform, and a next-generation CRM are currently being deployed. In addition, the development of new mobile applications is planned for next year.

This technological overhaul will provide players with a seamless and modern user experience.

Recruitment: Veikkaus’s secret weapon

As a sign of its determination, Veikkaus has stepped up its recruitment of talent from the online gaming industry. Last July, the company hired Andreas Reimblad, former director of Kindred, to lead the transformation of its sports betting offering. More recently, Fatemeh Daneshzadeh, former head of product excellence at Kindred, was appointed vice president of digital channels.

But Veikkaus isn’t limited to the gaming sector. The company also draws on other areas of entertainment: television, music, and digital platforms.

“We’ve recruited international experts. Some come from Netflix, Bolt, and other digital giants.” 

Hybrid culture under construction

The new face of Veikkaus will rely on a subtle balance between former employees from the company’s historical culture and new talent. A synergy that Nordlund aims to transform into strength:

“We want to create a corporate culture that borrows the best of both worlds.”

The stated ambition is clear: to become a leading digital operator, capable of competing with the best European players as soon as the market opens.

An intriguing strategy… and one that could pay off.

While some observers doubt Veikkaus’s ability to reinvent itself in the face of well-established gray market players, others applaud the seriousness and scope of the plan implemented. The coming months will be decisive, and 2027 promises to be a true life-size test for the Finnish giant.

For now, one thing is certain: Veikkaus is not giving up. It is actively preparing its transformation and intends to defy the predictions.