International edition
September 28, 2020

To develop gaming operations beyond the European Economic Area

Veikkaus Solutions looks for lotteries and gaming technology partners

(Finland).- Veikkaus has recently founded a subsidiary called Veikkaus Solutions, which sets out to explore international business opportunities with the objective of finding partners with whom to develop gaming operations beyond the European Economic Area.

T

he partners may include lotteries and gaming technology suppliers, and Veikkaus Solutions will pursue gaming licenses in different countries jointly with them.

According to juridical accounts, Veikkaus cannot operate beyond the Finnish borders for reasons of competition legislation; however, through a separate subsidiary, such activities are legal and do not jeopardize Finland's own gaming system. Due to the EU Internal Market regulations, the subsidiary's operations shall only take place beyond the European Economic Area (EEA).

 

“Thanks to our expertise and good reputation, Veikkaus is a popular partner among the operators in the gaming business. Our way of operating that combines responsibility, efficiency, and innovation is exemplary and can serve as the basis for partnerships everywhere”, Veikkaus CEO, Risto Nieminen, said.

It is strategically important to Veikkaus and Veikkaus' beneficiaries to be involved in the development of the gaming business. Involvement provides the best tools for continuous success. Veikkaus aims at becoming the world's leading gaming company; to achieve that aim, we need to see our operations in a wider perspective than that of just Finland.

 

“We want to learn new things that are being done in the gaming market worldwide – of course we do not know everything. In other words, we want to develop our operations in the domestic market by learning from international experiences,” says future CEO of Veikkaus Solutions Jari Vähänen.

 

First phase lasts until the end of 2013

 

Veikkaus Solutions will start its operations at the beginning of July.  The objective is to obtain licenses for selling lottery games during 2013 at the latest. At this phase, two Veikkaus’ current employees besides CEO Jari Vähänen will move to the new company.

They are Director of International Business and Partnership Joni Hovi and Business Development Manager Annukka Ruuhela.  Jari Vähänen will move to the subsidiary from his current post as Veikkaus’ Vice President, Development. Vähänen has extensive experience in the gaming business of about two decades; his most recent responsibilities in Veikkaus have covered international affairs and business development.

Veikkaus has an active role in the European and worldwide gaming business. Veikkaus’ CEO Risto Nieminen is CEO of the World Lottery Association WLA and holds a strong position in the European Lotteries.  In June 2011, Veikkaus organized an EL Congress in Helsinki, with the objective of opening a new vision to the future, and providing new ways of developing lottery businesses in an efficient and sustainable way.

 

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