Parliament of Finland accepts betting refinements
The Parliament of Finland accepted the Lottery Act from the first reading which obliges to control offshore operators more strictly and adds more safeguards for Veikkaus, the...
Veikkaus to lay off 200 staff as part of restructuring
As part of Veikkaus’s ongoing restructuring efforts, the company will be laying off approximately 200 of its employees in the near future.
The company’s restructuring efforts are being implemented in preparation for the expansion of the Finnish gambling market, where Veikkaus is currently the only firm allowed to offer a variety of gambling services. The country will be adopting a license-based non-monopoly system for its gambling industry starting in 2026.
As part of this restructuring, the firm initially estimated that it would have to lay off at most 240 people and modify the employment terms of almost 200 employees. However, following the completion of the restructuring plan, Veikkaus will be making around 185-215 redundancies, while a maximum of 150 employees will experience significant changes to their employment contracts. This still represents about a quarter of the firm’s total workforce of just over 800 members.
In addition to the layoffs, the company will also be splitting into three main operating divisions, with two business units being responsible for its Finnish offerings. One of the aforementioned two will be operating Veikkaus’s slot terminals, chance games, and arcades, while the other one will be responsible for its traditional wagering and casino operations. The third business unit, on the other hand, will be tasked with the company’s international operations.
Lastly, Veikkaus added that as part of this restructuring, it will also be shutting down its land-based establishment in Tampere, along with 19 of its gambling terminal locations in mid-December.
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