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Finland moving towards licensing system

Veikkaus CEO, Olli Sarekoski, stated in Veikkaus interim report on August 29, 2022, that if the sharply declining trend of Veikkaus markets share cannot be stopped, Finland will have to start thinking about bringing all gambling under the same regulatory regime. Veikkaus VP, Velipekka Nummikoski, repeated Sarekoski’s statement in an interview on September 7, 2022. Nummikoski underlined that Veikkaus is ready to give up its monopoly in Finland and presented license regime in a positive light. In the past Veikkaus has been a strong supporter of its own monopoly demanding stronger action from the government to protect their monopoly position. Considering that, Veikkaus recent statements meant 180 degrees turn.

Veikkaus statements started a snowball effect and the tone has already started to change in the beneficiaries’ statements and in the media. Most importantly, the political parties are now open to consider the change. In Social Democratic Party’s (19,3% support in the latest poll) newspaper’s poll in September all the other parliamentary parties, except one minor party, the Christian Democratic Party (3,3%), were open to consider a change. Soon after that the current poll-leaders, the National Coalition Party (24,2%), came out with a public statement according to which they strongly support dismantling the Veikkaus monopoly during the next parliamentary term (i.e., 2023-2027). The ball is now rolling and the pace will increase after the parliament elections in Finland are held in April 2023.

The draft law is pending in the parliament

The draft law severing the link between gambling proceeds and the Veikkaus beneficiaries is currently pending in the parliament. It is expected to pass with flying colours as the parliamentary parties had already in February reached preliminary agreement on the matter.

A Member of the Finnish parliament lied after receiving 120,000 euros from PAF

Finnish MP was caught lying in his declaration of affiliation given to the Finnish parliament, after receiving EUR 120k as licensing income from PAF. What makes the matter even more awkward is that the MP represents a governmental party and he participated in the Lotteries Act reform process.

The art collection of Veikkaus

Veikkaus art sale was another thing that hit the headlines in Finland during the past few weeks. They were accused of transparency problems and art dumbing though the most interesting detail, why Veikkaus had an art collection in the first place, was not covered.

 

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