‘Veikkaus won’t fail’ says online EVP, as it prepares to compete

The digital division of Veikkaus, Finland’s state-run gambling monopoly, is undergoing a significant technological overhaul and actively recruiting top industry talent in preparation for heightened competition.

In an exclusive interview with iGB, Jarkko Nordlund, Executive Vice President of Veikkaus’ forthcoming independent online business, expressed his commitment to disproving skeptics of the organization.

Nordlund heads the division that will be restructured to deliver competitive offerings to consumers in Finland’s emerging open gambling market.

“There are many who anticipate Veikkaus will falter. It’s my personal objective to defy these expectations,” Nordlund stated emphatically.

As Finland’s online gambling market opens to private operators in January 2027, Veikkaus aims to secure a dominant position upon this transition.

However, the company has recently experienced a downturn in both revenue and profit. Group revenue, including both business-to-consumer (B2C) and business-to-business (B2B) segments, dropped by 7.2% year-on-year in 2024.

Operating profit also saw a significant decline of 19.5% in 2024, largely attributed to ongoing investments in its digital business ahead of the market’s opening.

Industry stakeholders have raised concerns about Veikkaus’s ability to remain competitive against grey market operators.

In a bid to strengthen its market position, Veikkaus is undertaking a comprehensive technological and product revamp. Nordlund revealed that the company is transitioning to advanced platforms for Player Account Management (PAM), sports betting, and Customer Relationship Management (CRM).

Furthermore, Veikkaus is poised to introduce new mobile applications in the upcoming weeks.

“We have yet to fully exploit our technological and product capabilities, but with fierce competition on the horizon, we must adopt a proactive stance. Our goal is to challenge the prevailing mindset surrounding our current market position,” he remarked.

Strategic Talent Acquisition at Veikkaus

Last July, Veikkaus recruited former Kindred director Andreas Reimblad to spearhead the transformation of its online sportsbook.

The company is actively seeking experienced professionals from various sectors to enhance its digital operations.

Recent hires include Fatemeh Daneshzadeh, previously a product excellence manager at Kindred, who joined as Vice President of Digital Channels in April.

Nordlund indicated that while he is focused on acquiring experienced talent within the gambling sector, he is also exploring expertise from adjacent fields, notably entertainment—particularly in television and music.

“Our recruitment strategy involves attracting international talent, including professionals from digital giants like Netflix and Bolt,” he noted.

The organizational ethos will combine the expertise of both legacy Veikkaus personnel and fresh talent, creating a dynamic workforce that leverages the best practices from across the entertainment industry.

This aggressive talent acquisition strategy comes in response to a warning issued in September about potential renegotiations impacting the contracts of 620 employees. This initiative is part of an internal restructuring aimed at preparing the online business for competition against grey market operators.

At that time, Heli Lallukka, EVP of Human Resources, stated: “Our focus is on building an operational model that allows us to concentrate on our core business. These planned adjustments will better position us to navigate shifts in Veikkaus’s mission, operating environment, and the broader gambling landscape.”