Veikkaus announces leadership change in Finland gambling

Veikkaus, Finland’s state-owned gambling operator, has revealed a notable shift in its leadership structure. Deputy CEO Velipekka Nummikoski will transition to a new role within the company, focusing on projects under CEO Olli Sarekoski. This move reflects Veikkaus’ ongoing strategic adaptation as Finland’s gambling regulatory landscape evolves.

According to the company, Nummikoski will leave his current position at the beginning of 2026. At present, Veikkaus has no plans to immediately replace him, signaling an internal focus on continuity and strategic planning rather than rapid external recruitment.

In the meantime, Veikkaus director Tuomo Puumala will assume the public affairs responsibilities previously managed by Nummikoski. This shift ensures that public relations and stakeholder engagement efforts continue uninterrupted during the transition.

CEO Sarekoski praises Nummikoski’s contributions

Speaking about the leadership change, Veikkaus CEO Olli Sarekoski highlighted Nummikoski’s long-term impact on the company and Finland’s gambling sector.

“I want to thank Nummikoski for many years of excellent work on the executive team for the benefit of Finnish gambling companies, and thereby all Finns,” Sarekoski said. “His contribution, for example in the creation of the new gambling law, has been extremely significant.”

Sarekoski emphasized that Nummikoski’s work has been pivotal not only for Veikkaus but also for the broader regulatory and operational framework governing gambling in Finland. His efforts have helped shape policy that balances economic opportunity with social responsibility, reflecting the state’s approach to managing gambling activities.

Nummikoski reflects on his tenure

In a statement marking his departure from the deputy CEO role, Velipekka Nummikoski expressed pride in his achievements and the opportunity to influence Finland’s gambling system.

“Being a member of Veikkaus’ executive team has, in many ways, been the fulfilment of a dream,” Nummikoski said. “I have had the opportunity to be actively involved in shaping Finland’s gambling system — first through the merger of the gambling companies, and ultimately through the reform of the entire gambling system. In short, I have been able to make history.

“Now is a good moment to pass the baton forward, as the legislative reform is in its final stage in Parliament and a new era in Veikkaus’ business is about to begin.”

Nummikoski’s statement underscores the broader significance of his role in modernizing Finland’s gambling operations, which includes both the consolidation of state-owned operators and the implementation of new regulatory frameworks.

Finland’s multi-licensing gambling bill moves forward

The leadership announcement coincides with an important legislative milestone in Finland. On December 5, Finland’s Administrative Committee completed its deliberations on the country’s multi-licensing gambling regulation bill, representing a key step in the modernization of gambling legislation.

The new bill is intended to introduce a multi-licensing system for gambling operators in Finland, expanding the market while strengthening consumer protections and regulatory oversight. This legislative reform reflects Finland’s effort to balance economic growth in the gambling sector with robust social safeguards, including measures designed to prevent gambling addiction and financial harm.

Opposition proposals spark debate

Despite broad support for the bill, certain proposals have emerged from opposition parties, sparking debate within Parliament. Antti Koivula, chief compliance officer at Hippos ATG with extensive legal experience in the Finnish market, provided analysis of the recent committee report.

Koivula noted that the Administrative Committee recommended a slight delay to the bill’s schedule and suggested “minor tweaking” of marketing regulations. Specific proposals from opposition parties include:

• Raising the legal gambling age to 20
• Introducing two-factor authentication for all gambling accounts
• Enforcing a blanket ban on promotional bonuses
• Implementing centrally shared deposit and loss limits across all operators

Koivula emphasized, however, that these proposals currently represent dissenting opinions rather than actionable law. “Fortunately, this is only the opposition’s dissenting opinion. These proposals will not materialise, at least not during the current parliamentary term,” he stated on LinkedIn.

He also cautioned that the political landscape may shift after the 2027 parliamentary elections, potentially impacting future regulatory developments. “However, we shall see what happens in the next governmental term, beginning after April 2027 elections, if the current opposition parties are back in government,” Koivula added.

Implications for Veikkaus

The combined impact of leadership changes and evolving legislation places Veikkaus at a pivotal juncture. The company faces the dual challenge of maintaining operational stability while adapting to a regulatory framework that could allow increased competition in the Finnish gambling market.

Passing public affairs responsibilities to Tuomo Puumala ensures that Veikkaus’ engagement with regulators, policymakers, and other stakeholders remains strong during this period of transition. Meanwhile, Nummikoski’s continued involvement in strategic projects under Sarekoski will allow the company to leverage his expertise in shaping long-term initiatives.

For Veikkaus, the broader context is one of modernization and preparation. The multi-licensing framework will open the Finnish market to new operators, requiring Veikkaus to enhance its digital offerings, strengthen compliance measures, and refine customer protection protocols. This period of adaptation is likely to be critical in defining the company’s market position in the years ahead.

Regulatory and social considerations

Finland’s gambling reform is notable for its attention to social responsibility. The new legislation aims to improve player safety and transparency, with mechanisms for monitoring and restricting harmful gambling behaviors. These measures are designed to balance the economic potential of the gambling sector with public health and consumer protection priorities.

At the same time, industry stakeholders recognize the potential for increased competition under a multi-licensing system. Operators will need to demonstrate responsible marketing practices, robust technological safeguards, and transparent operational procedures. Veikkaus’ leadership restructuring appears aligned with these goals, ensuring continuity while positioning the company to respond effectively to regulatory changes.

Looking ahead

As Veikkaus prepares for a new era under its executive team, the company must navigate a complex combination of regulatory change, operational transition, and competitive pressures. Nummikoski’s departure from the deputy CEO role marks the end of a significant chapter, but his continued involvement in strategic projects signals ongoing commitment to innovation and regulatory compliance.

The Finnish gambling market stands on the threshold of transformation. The upcoming multi-licensing regime promises to create new opportunities while reinforcing safeguards for consumers. Veikkaus’ proactive leadership adjustments, combined with parliamentary deliberations on the legislation, reflect a careful, measured approach to change — one that prioritizes stability, compliance, and long-term market positioning.

Conclusion

Veikkaus’ leadership reshuffle, with Velipekka Nummikoski moving to strategic projects and Tuomo Puumala taking over public affairs, comes at a critical moment for Finland’s gambling industry. The multi-licensing gambling bill, though still subject to political debate and minor modifications, signals a new era in regulation and market structure.

The company’s measured response demonstrates both respect for its outgoing executive’s contributions and a strategic focus on ensuring continuity during a period of legislative transformation. Finland’s gambling sector is poised for significant evolution, and Veikkaus’ leadership changes position it to navigate this transition effectively, maintaining regulatory compliance, operational stability, and a commitment to social responsibility.

FAQs

What role did Velipekka Nummikoski hold at Veikkaus?
Velipekka Nummikoski was the deputy CEO of Veikkaus before transitioning to strategic projects within the company.

When will Nummikoski leave his current position?
Nummikoski is scheduled to leave his deputy CEO role at the beginning of 2026.

Who will take over Nummikoski’s public affairs responsibilities?
Tuomo Puumala, director at Veikkaus, will assume the public affairs duties previously held by Nummikoski.

What is the significance of Finland’s multi-licensing gambling bill?
The bill introduces a multi-licensing system for gambling operators, aiming to balance market growth with strong consumer protections.

What opposition proposals were suggested regarding the bill?
Proposals included raising the legal gambling age to 20, implementing two-factor authentication, banning bonuses, and centralizing deposit and loss limits.

Will the opposition proposals take effect immediately?
No, these proposals are currently dissenting opinions and are unlikely to be implemented during the current parliamentary term.

What has been Nummikoski’s contribution to Finland’s gambling sector?
Nummikoski has played a key role in merging gambling companies and shaping the new gambling law, significantly influencing the regulatory framework.

How does Veikkaus plan to manage the leadership transition?
Veikkaus has appointed Tuomo Puumala to handle public affairs while Nummikoski continues strategic projects under CEO Olli Sarekoski.

What social responsibilities are emphasized in the new gambling law?
The law focuses on player safety, transparency, and measures to prevent harmful gambling behaviors.

How could the gambling market change after 2027?
If the opposition parties return to government after the 2027 elections, some previously proposed changes could be revisited, potentially affecting regulatory rules and market conditions.