David Williams | 07 Sep 2018
In international casino news, Veikkaus, the Finnish national betting agency, has appointed a new executive team. The new team, appointed by the organisations Board of Directors, took on their new responsibilities at the beginning of September amidst other organizational revisions.
Company CEO, Olli Sarekpksi has said that they are preparing the company for the rapidly changing environment in which it operates, and the expanding international competition. The organizations revamp is not expected to lead to any reductions in staff, and all changes have been discussed with staff representatives.
The Executive Team shuffle follows a disappointing second-quarter report on the company performance. However, the company sites a shift to digital channels as the reason for the change in management. Part of Veikkaus’ strategy is the identification of decentralized slot machines and this shift has required a new management strategy.
The Executive Team members are:
The second quarter report shows a 0.3% drop in turnover, despite this, the company still declared a 2.5% increase in profits. 42% of the turnover is from the digital channels. Company representatives have cited the campaign to encourage responsible gambling for the reason behind the decrease in turnover.
The organization plans to secure its future market segment in the digital sales arena. Internationally this is the industries most competitive sector thus the revised strategy.
The changes are not unexpected as Veikkaus announced the new strategy at the beginning of the year. With the amalgamation with three other companies, it now claims to hold 90% of the Swedish market. However, the company recognizes the growth within the digital arena and its need to keep up with international competition.
The Veikkaus monopoly supports thousands of NGO’s that provide services to Fins for the common good. The new Executive Team is tasked with ensuring that the company is able to continue doing so.