In view of the imminent opening up of the Finnish online gambling market, Veikkaus is embarking on an ambitious transformation. Buoyed by new talent, modernised technological tools and an offensive strategy, the company hopes to win back a market it has long dominated. Here’s how Veikkaus is preparing its return to the top in a rapidly changing iGaming landscape.
Veikkaus, Finland’s longstanding public gambling monopoly, is preparing to move into a regulated market where competition will finally be allowed to operate legally. This opening, scheduled for January 2027, is intended to channel players into a controlled environment. But for Veikkaus, this means competing with international players who have already been well established in the Finnish grey market for a decade.
Despite its long-standing dominant presence (20-30% of the local iGaming market), Veikkaus has seen a significant decline in revenues, exacerbated by the reform of the lotteries law in 2022 and a fall in consumer purchasing power. Nevertheless, the operator is cautiously optimistic and is actively preparing its transformation in order to assert itself in this new competitive landscape. Jarkko Nordlund and Andreas Remblad spoke to iGB about this.
New management for a new era
The strategic shift began with the arrival of Jarkko Nordlund as EVP iGaming in September 2023. A former executive at MTV, Universal Music and Canal+, Nordlund sees online gaming as a natural extension of the entertainment industry.
‘For me, this industry is part of the same entertainment portfolio as television, music or streaming.’ Jarkko Nordlund
His aim: to modernise the player experience and build a competitive iGaming offering capable of competing with the global giants.
An in-depth overhaul
At the heart of Veikkaus‘ strategy: a new sportsbook developed in partnership with OpenBet, replacing SBTech’s ageing technology (abandoned since its takeover by DraftKings). At the helm of this transformation is Andreas Reimblad, formerly of Kindred, who was recruited in July 2024 as VP Sports Betting.
“We wouldn’t have succeeded without change. We had to make concrete adjustments to offer a better experience.” Andreas Reimblad
OpenBet offers Veikkaus a unique capability: autonomous management of odds on local sports such as pesäpallo or floorball, thanks to a team of in-house traders. A secret weapon in a niche market that the major international operators do not prioritise.
Powerful tools to attract players
In addition to the sportsbook, Veikkaus is introducing a new PAM platform, a modernised CRM, redesigned mobile applications and a new website. All of these tools are designed to enhance the user experience and restore the appeal of a brand that is often perceived as outdated.
Another key objective is to increase the player return rate, historically low under the monopoly. Veikkaus has gradually raised it to improve the perception of its offering and make its games more competitive.
“It’s no secret that monopolies often offer lower earnings. We’ve changed that.” Andreas Reimblad
Capitalising on a historic brand
Veikkaus benefits from a major asset: brand awareness that is unrivalled in Finland. Its slot machines can be found in supermarkets, and its name is associated with reliability. But this image can also be a hindrance in a digital world where innovation is paramount.
‘Our brand is strong, but we need to be more entertaining.’ Jarkko Nordlund
The challenge, then, is to change perceptions without abandoning the founding values: local roots, reliability and social responsibility.
A database to enhance?
One of the key debates surrounding the Finnish reform concerns access to Veikkaus’ historical customer database. While Sweden has imposed active consent from players for cross-selling in 2019, the exact arrangements for Finland remain unclear. Veikkaus, which is already active online, hopes to retain its iGaming audience without a forced transition.
“The question is: how do we define our customer base? These operational details are crucial.” Jarkko Nordlund
Recruitment: attracting tomorrow’s talent
To drive this transformation, Veikkaus has launched an ambitious recruitment campaign. The latest notable arrival is Fatemeh Daneshzadeh, former Product Manager at Kindred, now VP Digital Channels. The aim is to attract profiles from both iGaming and digital entertainment (Netflix, Bolt…).
‘We have recruited international experts and tech profiles from related industries.’ Jarkko Nordlund
The desired mix: combining historic in-house expertise with the freshness of external talent to create a new corporate culture.
An operator resolutely focused on the future
Veikkaus is giving itself the means to achieve its ambitions: modernisation, expertise, agility, everything is being done to make 2027 a new beginning. For Reimblad, the positioning is clear: where the giants see Finland as a small market, Veikkaus is focusing 100% of its efforts there.
“For others, Finland is a secondary market. For us, it’s everything.” Andreas Reimblad
With strong local roots, a massive customer base, up-to-date technology and a clear vision, Veikkaus intends not only to survive liberalisation, but to become its undisputed leader.