Finland’s state-run gaming company, Veikkaus, is preparing for big changes as the nation gets ready to move from a monopoly system to a licensing model. Veikkaus is likely to renegotiate contracts with a significant section of its workers as a result of the transition, which is expected to result in significant job layoffs.
As Finland moves towards a new regulatory framework, Veikkaus anticipates a major restructuring. The company plans to renegotiate contracts with approximately 580 to 620 employees. This adjustment may result in up to four redundancies and between 10 and 37 changes to employment contracts. Last year, Veikkaus projected that between 185 and 215 employees could be laid off as part of its operational adjustments. Additionally, Veikkaus had already closed its Casino Tampere property and shut down 19 game arcades, reflecting earlier shifts in its business model.
Adapting to a Multi-License Market
The shift to a licensing model, set to officially begin in 2027, will end Veikkaus’ exclusive monopoly. As one of the future licensees, Veikkaus is actively preparing for this transition. The company is focusing on optimizing its operations and adopting a product-based approach to stay competitive. While the changes may lead to job losses, Veikkaus is also looking to capitalize on the new market dynamics. The company is hopeful that the shift will bring about positive changes, including the creation of new roles and opportunities.
Heli Lallukka, EVP of People & Culture at Veikkaus, expressed the company’s commitment to maintaining its leadership position. “We want to turn Veikkaus into a company that is a major operator both in Finland and beyond,” Lallukka said. She added that Veikkaus aims to be a source of pride for Finns and plans to invest in its future to remain a top player in the evolving market.
Finland’s new licensing model will see gambling operators apply for licenses starting in 2026, with a dedicated gambling regulator overseeing the industry. In 2028, B2B licenses will also be introduced, further shaping the landscape for gambling in Finland.
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