Veikkaus, the Finn state gambling monopoly, has begun to move towards a regulated marketplace where its three distinct units will compete along with other private operators. It has announced it will lay off 25 percent of its workforce, iGaming Business reported November 13.
Veikkaus said that it would cut anywhere from 185-215 positions out of 825, and change employment status for 110-150 employees. It will also close Casino Tampere December 9, less than two years after opening it. The arcade, one of 65 gaming venues operated by Veikkaus, has about 80 employees. Another 19 gaming arcades will close by the end of the year.
These layoffs are not as severe as earlier thought when it was estimated that as many as 240 jobs would be cut.
The three units will each be led by a senior vice president. Nora Vähävirta, chief operating officer of business operations, will be in charge of games of chance, slot machines and arcades.
Jarkko Nordlund, who joined the company as executive director several months ago, will direct domestic online casino and betting operations.
Another recent hire, Jonas Reuter, will lead international business.
Veikkaus will retain its monopoly status for lottery and retail slots.
The government’s goal is to reduce financial and social harms by encouraging more consumers to use licensed operators. Currently about half of the gambling activity in Finland is with unlicensed operators.
